Vencanna Ventures Shifts to Semi-Annual Reporting Amidst Operational Adjustments

Calgary, Alberta — August 28, 2026 — Leads & Copy — Vencanna Ventures Inc. has provided a summary of its financial results as of April 30, 2026, detailing a transition to semi-annual financial reporting and outlining operational and financial performance. The company announced its election to adopt semi-annual financial reporting (SAR) under the Coordinated Blanket Order 51-933, a pilot program from the Canadian Securities Administrators that permits eligible venture issuers on the Canadian Securities Exchange (CSE) to move from quarterly to semi-annual financial reporting, aiming to reduce administrative and financial burdens.

Under SAR, Vencanna will file interim financial reports and related management's discussion and analysis on a semi-annual basis. The company's fiscal year-end remains April 30, and it will continue to file annual audited financial statements and semi-annual interim financial statements for the period ending October 30, while remaining subject to timely disclosure requirements for material changes.

The company's operations are primarily in the cannabis industry, which is illegal under U.S. federal law. However, Vencanna states it is not aware of any non-compliance with applicable state laws by itself or its investees.

Vencanna's business shifted from a merchant capital firm to a U.S.-based cannabis operating company following the acquisition of The Cannavative Group in an all-share transaction on April 30, 2024. Cannavative, along with its subsidiaries Cannavative Farms LLC and Cannavative Extracts LLC, operates as a licensed manufacturer and distributor of recreational cannabis flower and extracted products in Nevada.

The company also partnered with New Jersey entities: TGC New Jersey LLC, CGT New Jersey LLC, and October Gold LLC. While TGC exited its lease and CGT assigned its retail lease, October Gold was unsuccessful in securing a retail site, and no further activity is anticipated with these entities. Vencanna holds a 95% interest in Vencanna NJ LLC, which was awarded a Class 5 Retail license in Bellmawr, NJ. The company has entered into a definitive agreement to sell its 95% membership interest in Vencanna NJ for $1,250,000, plus approximately $135,000 in cash reimbursement and an earnout of up to $250,000. A $250,000 deposit was released to the company on May 1, 2026, and the transaction is proceeding.

In Nevada, cannabis sales reached over $723 million in calendar year 2025, according to the State of Nevada Department of Taxation, despite an 11% decrease from the previous year attributed partly to declining tourism. Cannavative has focused on streamlining operations, including relocating to a smaller facility, reducing headcount, and improving logistics, to maintain competitive pricing amidst ongoing price compression and market consolidation. The company continues to assess the viability of the Nevada market.

For the three months ended April 30, 2026, revenues were $488,879, with a cost of sales of $408,784, resulting in a profit margin of 16%. The company recorded a comprehensive loss of $476,932, or $0.00 per common share, for the period. Cost of sales and expenses decreased relative to prior quarters. For the year ended April 30, 2026, revenues were $1,880,330, and the company recorded a comprehensive loss of $1,851,914, or $0.01 per common share. Expenses for the year decreased significantly due to lower transaction-related and operating costs following streamlining initiatives, including reductions in amortization, lease-related expenses, marketing, office, professional fees, and salaries.

Vencanna Ventures Inc. was established as an investment issuer in September 2018, transitioning from an oil and gas issuer to a merchant capital firm. In April 2024, the acquisition of Cannavative marked its transition to an operating company focused on the cannabis value chain in the United States.