CANNTAB ANNOUNCES APPOINTMENT OF RICHARD GOLDSTEIN AS INTERIM CEO

TORONTO, Aug. 2, 2022 /PRNewswire/ - Canntab Therapeutics Limited (CSE: PILL.CN)(OTCQB: CTABF) (FRA: TBF1.F) (the "Company" or "Canntab"), the leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic application, announces that it has appointed Richard Goldstein, currently serving as Canntab's CFO, as interim CEO of Canntab, effective July 31, 2022.

Mr. Goldstein replaces the outgoing CEO of the Board Larry Latowsky who stepped down to pursue other opportunities. Mr. Latowsky will continue to serve as an advisor to the board of directors of Canntab and oversee the direction and development of business with First Nations communities across Canada per agreements previously announced.

The board of directors of Canntab has commenced a formal search for a permanent CEO. Further announcements will be made as and when appropriate.

Canntab is a Canadian phytopharmaceutical company focused on the manufacturing and distribution of a suite of hard pill cannabinoid formulations in multiple doses and timed-release combinations. Long referred to as Cannabis 3.0 by the Company, Canntab's proprietary hard pill cannabinoid formulations provide doctors, patients and consumers with medical grade solutions which incorporate all the features one would expect from any prescription or over the counter medication sold in pharmacies around the world. These include once a day and extended-release formulations, both providing an accurate dose and improved shelf stability.

Canntab holds a Cannabis Standard Processing & Sales for Medical Purposes License and a Cannabis Research License.

Canntab trades on the Canadian Securities Exchange under the symbol PILL, on the OTCQB under the symbol CTABF, and on the Frankfurt Stock Exchange under the symbol TBF1.

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the future plans and goals of the Company; the Company's proprietary hard pill cannabinoid formulations providing doctors, patients and consumers with medical grade solutions which incorporate all the features one would expect from any prescription or over the counter medication sold in pharmacies around the world; the Company's product offerings including once a day and extended-release formulations, both providing an accurate dose and improved shelf stability; and the Company's search for a permanent replacement CEO.

Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's ability to continue as a going concern; the continued commercial viability, adoption and growth in popularity of the Company's products; continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; the Company continuing to develop products; continued growth of the Company; the Company hitting its future plans and goals; the Company's proprietary hard pill cannabinoid formulations providing doctors, patients and consumers with medical grade solutions which incorporate all the features one would expect from any prescription or over the counter medication sold in pharmacies around the world; the Company's product offerings to continue to include once a day and extended-release formulations, that provides an accurate dose and improved shelf stability; and the Company's ability to attract and engage a qualified and suitable candidate to serve as its permanent replacement CEO.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; risks associated with potential governmental and/or regulatory action with respect to the Company's operations; competition within the industry; risks that the Company will be unable to execute its plans and/or meet its goals; risk that the Company will not grow as anticipated; risks that consumers will not purchase its products; the Company's proprietary hard pill cannabinoid formulations' inability to provide doctors, patients and consumers with medical grade solutions which incorporate all the features one would expect from any prescription or over the counter medication sold in pharmacies around the world; the Company's product offerings to no longer include once a day and extended-release formulations, that provides an accurate dose and improved shelf stability; and the inability of the Company to attract and engage a qualified and suitable candidate to serve as its permanent replacement CEO.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

SOURCE Canntab Therapeutics Limited