Delta 9 Announces the Renewal of its at-the-Market Equity Offering Program

(via TheNewswire)

Winnipeg, MB -TheNewswire -October 24, 2023 -Delta 9 Cannabis Inc.(TSX:DN) (OTC:DLTNF)(“Delta 9”or the “Company”) is pleased to announce that it has established an at-the-market equity program (the “ATM Program”) that allows theCompanyto issue up to $5,000,000 of common shares in the capital of theCompany(the “Common Shares”) from treasury to the public from time to time, at theCompany’sdiscretion.

Distributions of the Common Shares through the ATM Program will be made pursuant to the terms of an equity distribution agreement (the “Equity Distribution Agreement”) dated October 23, 2023 between the Company and Haywood Securities Inc. (the “Agent”).

Pursuant to the Equity Distribution Agreement, the Common Sharesmay be offered and sold by the Agent: (a)in privately negotiated transactions with the consent of theCompanyand, if required, by the Toronto Stock Exchange (the “TSX”);(b)as block transactions; (c) by the Agent, on the TSX or on any other “marketplace” (as such term is defined inNational Instrument21-101–Marketplace Operation) in Canada; or(d)by any method permitted by law that constitutes an “at-the-market distribution” underNational Instrument44-102 –Shelf Distributions.

The volume and timing of distributions under the ATM Program, if any, will be determined in theCompany’ssole discretion. The ATM Program will be effective until the earlier of the issuance and sale of all of the Common Shares issuable pursuant to the ATM Program and November 12, 2025, unless terminated prior to such date by theCompanyor the Agent. As Common Shares sold in the ATM Program will be issued and sold at the prevailing market price at the time of the sale, prices may vary among purchasers during the period of the distribution. TheCompanyexpects to use the net proceeds from the ATM Program for general corporate purposes and working capital needs.

The offering under the ATM Program will be made pursuant to a prospectus supplement dated October 23, 2023 (the “Prospectus Supplement”) to theCompany’sfinal short form base shelf prospectus dated October 12, 2023 for each of the provinces and territories of Canada (the “Base Shelf Prospectus”).

The Prospectus Supplement, the Base Shelf Prospectus, and the Equity Distribution Agreement are available on the SEDAR website maintained by the Canadian Securities Administrators atwww.sedar.com.

Alternatively, the Agent will send copies of the Prospectus Supplement, the Base Shelf Prospectus and Equity Distribution Agreement, as applicable, upon request to Haywood Securities Inc., Haywood Securities Inc., 700 – 200 Burrard St., Vancouver, BC V6C 3L6, or by telephone at (604) 697-7126, or by email at ecm@haywood.com.

No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy the Common Shares, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

For more information contact:

Investor & Media Contact:

Ian Chadsey VP Corporate Affairs

Mobile: 204-898-7722

E-mail:ian.chadsey@delta9.ca

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. TheCompanysells cannabis products through its wholesale and retail sales channels and sells its cannabis grow pods to other businesses.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 9owns and operates a chain of retail stores under theDelta 9 Cannabis Storebrand.Delta 9’s shares trade on the Toronto Stock Exchange under the symbol “DN” and on the OTC under the symbol “DLTNF”. For more information, please visit www.delta9.ca.

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding theCompany’sfuture business plans and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including theCompany’sactual financial results being different from its estimates as well as all risk factors set forth in the annual information form ofDelta 9dated June 30, 2023 which has been filed on SEDAR. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits theCompanywill obtain from them. Readers are urged to consider these factors carefully in evaluating the forward-looking statements contained in this news 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 theCompanydisclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

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