Delta 9 announces the renewal of its normal course issuer bid for common shares and convertible debentures

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WINNIPEG, Manitoba, November 02, 2021 (GLOBE NEWSWIRE) – DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: DLTNF) (“Delta 9†or the “Companyâ€) today announced that the Toronto Stock Exchange (“TSXâ€) has approved the renewal of the public tender offer. normal operations (the “OPRAâ€). Pursuant to the public tender offer, the Company may purchase: (i) up to a total of 6,827,032 ordinary shares of the Company (the “ordinary sharesâ€), representing 10% of the free float of the ordinary shares as at 29 October 2021; and (ii) up to an aggregate amount of $ 1,180,000 in principal amount of the Company’s 8.5% unsecured convertible debentures (the “Debenturesâ€), representing 10% of the free float of the Debentures as at October 29, 2021.

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Purchases of Common Shares and Debentures under the issuer bid may be made through the TSX and other Canadian trading systems beginning November 5, 2021 and ending November 4, 2022 , or at an earlier date if the Company purchases the maximum number of common shares and debentures available under the tender offer. The Company will pay the market price at the time of acquisition for all Common Shares and Debentures purchased through the TSX. All Common Shares and Debentures purchased directly by the Company under the Offer will be canceled.

As at October 29, 2021: (i) there were 105,514,768 common shares and $ 11,800,000 in debenture principal issued and outstanding; (ii) 37,244,443 common shares and no debentures were held by the senior officer and directors of the company; and (iii) the Company’s free float was 68,270,325 common shares and $ 11,800,000 in debenture principal.

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The average daily trading volume for the common shares and debentures for the six-month period ended September 30, 2021 was 94,232 common shares and $ 10,309 in debenture principal. Daily purchases will be limited to 23,558 Common Shares and $ 2,577 in Debenture Principal, with the exception of bulk purchase exceptions.

The Company has requested approval of the public tender offer because it believes that, from time to time, the market price of the Common Shares and Debentures may not fully reflect the value of the Common Shares and Debentures. The Company believes that, in such circumstances, the purchase of common shares and debentures represents an accretive use of capital.

For more information, contact:

Investor and media contact:
Ian Chadsey VP Corporate Affairs
Mobile : 204-898-7722
E-mail: [email protected]

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About Delta 9 Cannabis Inc.

Delta 9 Cannabis Inc. is a vertically integrated cannabis company focused on bringing the highest quality cannabis products to market. The company sells cannabis products through its wholesale and retail channels and sells its cannabis grow pods to other companies. Delta 9’s wholly owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9 shares trade on the Toronto Stock Exchange under the symbol “DN” and on the OTCQX under the symbol “DLTNF”. For more information, please visit www.delta9.ca.

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Forward-looking information disclaimer

Certain statements contained in this press release are forward-looking statements, which reflect management’s expectations regarding the Company’s future business plans and other matters. Forward-looking statements consist of statements which are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. The forward-looking statements contained in this press release include statements relating to the Company’s intention to purchase Common Shares and Debentures in connection with the public tender offer. These statements are subject to risks and uncertainties which may cause actual results, performance or developments to differ materially from those contained in the statements, including all risk factors set forth in Delta 9’s annual information form. dated March 31, 2021 which has been filed. on SEDAR. No assurance can be given that any of the events anticipated by forward-looking statements will occur or, if they do occur, what benefits the Company will derive from them. Readers are urged to carefully consider these factors when evaluating the forward-looking statements contained in this press release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof and the Company disclaims any intention or obligation to publicly update any forward-looking statement, whether as a result of new information, future events or results or otherwise, except as required. by the applicable securities. laws.