Nova Cannabis Announces Leadership Transition

EDMONTON, AB, July 16, 2024 /CNW/ - Nova Cannabis Inc. ("Nova" or the "Corporation") (TSX: NOVC) today announced that Marcie Kiziak, Chief Executive Officer and a Director of Nova, will be stepping down from her role of Chief Executive Officer, effective August 1, 2024. Ms. Kiziak will continue to serve as a Director of Nova until second quarter 2024 financial results are announced. This decision comes in connection with the restructuring announced by SNDL Inc. earlier today.

Ms. Kiziak successfully led Nova through the early years of Canadian federal legalization and worked to build a unique and highly disruptive discount strategy in Cannabis retail. Nova's success prompted a number of retail operators to follow suit, bringing greater value and convenience to consumers. Under her leadership, the Nova team has grown the Value Buds portfolio to more than 100 stores through a combination of organic and inorganic growth.

Taking the reins as Interim Chief Executive Officer will be Grant Sanderson, Nova's current Chief Operating Officer. Sanderson's appointment will take effect upon Ms. Kiziak's departure. The Nova board expresses gratitude for Ms. Kiziak's dedicated service over the years, acknowledging her invaluable contributions to the Corporation's success.

Zachary George, Chair of the Board of Directors of Nova, expressed his gratitude and well wishes: "Marcie has been a cornerstone of Nova for many years, and her dedication has been pivotal to our success. We wish her all the best in her future endeavours."

ABOUT NOVA CANNABIS INC.

Nova Cannabis Inc. (TSX: NOVC) is one of Canada's largest and fastest-growing cannabis retailers with a goal of disrupting the cannabis retail market by offering a wide range of high-quality cannabis products at every-day best value prices. The Corporation currently owns and/or operates locations across British Columbia, Alberta, Ontario, and Saskatchewan, primarily under its "Value Buds" and "Firesale Cannabis" banners. Additional information about Nova Cannabis Inc. is available at www.sedar.com and the Corporation's website at www.novacannabis.ca.

SOURCE Nova Cannabis Inc.

For Further Information: Grant Sanderson, Chief Operating Officer, Nova Cannabis Inc., [email protected]