CANN GROUP LIMITED — Capital/Financing Update 2020

Jul 22, 2020

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23 July 2020

ASX Market Announcements Office ASX Limited Level 4 North Tower, Rialto 525 Collins Street Melbourne Victoria 3000

Attention: Ms Melissa Kostopoulos

Dear Melissa

Shares issued under Institutional Placement Notice under section 708A(5)(e) of the Corporations Act 2001

This notice is given by Cann Group Limited (ACN 603 949 739) ( Issuer ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ).

The Issuer today issued [32,953,920] fully paid ordinary shares ( Shares ) at an issue price of A$0.40 per Share to sophisticated and professional investors under the institutional placement announced by the Issuer on 17 July 2020.

The Issuer advises that:

• (a) the Shares the subject of this notice were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

• (b) this notice is being given under section 708A(5)(e) of the Corporations Act;

• (c) as at the date of this notice, the Issuer has complied with:

  • (i) the provisions of Chapter 2M of the Corporations Act as they apply to the Issuer; and

  • (ii) section 674 of the Corporations Act; and

• (d) as at the date of this notice, there is no information that is "excluded information" within the meanings of sections 708A(7) and 708A(8) of the Corporations Act.

Yours sincerely

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Geraldine Farrell Company Secretary Cann Group Limited

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