Chalice Brands Ltd. Announces Change of Auditor

Portland, OR – October 4, 2022 -- Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF) (the “Company” or “Chalice Brands”), a premier consumer-driven cannabis company specializing in retail, production, processing, wholesale, and distribution, today announces that former independent auditor of the Company Baker Tilly US, LLP ("Former Auditor") tendered its resignation effective September 28, 2022 and the Company has appointed M&K CPAS PLLC ("Successor Auditor"). The resignation was at the request of the Company. The Company had incorrectly reported that the Former Auditor had resigned effective August 10, 2022 and made disclosures in that respect on August 10, 2022. The Company’s public disclosure of the effective dates of the resignation of Former Auditor and the appointment of the Successor Auditor is incorrect, which dates should each be September 28, 2022.

In accordance with National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102"), the Company will file a Change of Auditor Notice (the “Notice”) on SEDAR, together with letters from both the Former Auditor and Successor Auditor, with each letter confirming agreement with the statements contained in the Notice, as applicable. The Company is encouraged with our progress with the Successor Auditor and expects to issue audited financial statements for the year ended December 31, 2021, in October 2022.

About Chalice Brands Ltd.

Chalice Brands is a premier consumer-driven cannabis company specializing in production, processing, wholesale, distribution and retail, with 16 owned dispensaries in and around Portland, Oregon. The Company is committed to developing a dynamic portfolio built around the recognized brands of Chalice Brands, including Chalice Farms, Left Coast Connection, Homegrown Oregon and Cannabliss & Co., with a focus on health and wellness. Visit investors.chalicebrandsltd.com/ for regular updates.

 

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