CANNAPHARMARX, INC.

CANNAPHARMARX, INC. specializes in the acquisition, development, and operation of cannabis cultivation facilities in Canada. The company, originally incorporated in Colorado in August 1998 as Network Acquisitions, Inc., has evolved to focus on producing high-quality medical cannabis and craft products. Its principal executive office is located at 4439 Township Rd 304, Mountain View County, Alberta, Canada T0M 0R0. On January 6, 2022, CANNAPHARMARX, INC. entered into a 20-year operating lease for a 55,000 square foot facility in Cremona, Alberta, Canada. During 2022, this facility was recommissioned into an indoor cannabis farm with 10 growing rooms and one drying and packing room. Currently, the facility operates six of these growing rooms and one drying and packing room. The company plans to increase capacity over the next one to two years to open a second drying and packing room and operate all 10 growing rooms. CANNAPHARMARX, INC. received an operating license from Health Canada on December 9, 2022, and a cannabis license from the Canada Revenue Agency ("CRA") on December 22, 2022. The company commenced cannabis production during the year ended December 31, 2023. It aims to grow by increasing production capacity at the Cremona facility to support sales of cannabis to European markets, specifically Germany and Israel. To achieve this, the company intends to increase the number of growing rooms from six to 10 over the next one to two years, open a second drying and packing room, and build a sales network in Germany and Israel. The company is also applying for European Union Good Manufacturing Practices ("EU-GMP") certification. Currently, its cannabis is sent to a third-party European intermediary for packaging to comply with EU-GMP standards.