Kelowna, British Columbia—Citation Growth Corp. (CSE:CGRO) (OTCQX:CGOTF) (“Citation” or “Company”), a licensed multi-state Cannabis cultivator, producer and retailer, is providing details of its upcoming virtual Annual General Meeting (“AGM”) to be held on Thursday April 23, 2020 at 1:30 p.m. (Mountain Time).

Listening to The Virtual AGM

All shareholders will be able to listen to the virtual AGM and view the Company’s slide presentation as guests via audio webcast at:

https://78449.themediaframe.com/dataconf/productusers/cgc/mediaframe/37250/indexl.html

Participant / Guest (Toll-Free): 877-407-2991 (Event 14)
Participant / Guest (Toll): 201-389-0925 (Event 14)

Please dial in/log in at least 15 minutes prior to the start time of the AGM on April 23, 2020.

To Vote or Ask Questions At The Virtual AGM

Citation’s Notice of Meeting, Management Information Circular (the “Circular”) and the accompanying form of proxy (collectively the “Meeting Materials”) were mailed on or about March 18, 2020. If you have not yet received your Meeting Materials, please contact your broker if you are a non-registered shareholder or contact Computershare if you are a registered shareholder. In order to streamline the virtual meeting process, the Company encourages shareholders to vote in advance of the meeting using the Voting Instruction Form or the Form of Proxy mailed to them with the meeting materials no later than 1:30 p.m. Mountain Time on April 21, 2020. Shareholders wishing to attend the AGM may continue to do so by logging into the webcast or calling the number above, and instructions will be provided as to how shareholders entitled to vote at the AGM may participate and vote at the AGM.

All shareholders wishing to have a question addressed at the virtual AGM can also submit them in advance to ir@citationgrowth.com. Citation is committed to addressing appropriate questions submitted by shareholders either live during the AGM or in advance, as timing and circumstances permit.

About Citation Growth Corp.

Citation Growth Corp. (CSE:CGRO) (OTCQX:CGOTF) is a publicly traded company that has been investing in the development of the medical and recreational cannabis space since 2014. Citation has expanded its operating portfolio over time to include cultivation, production and retail offerings in key North American legal jurisdictions such as Nevada, California, Washington and British Columbia. For more information, please visit www.citationgrowth.com.

For Further Information:

Erik Anderson, President and CEO
1-877-438-5448 Ext 713
eanderson@citationgrowth.com

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

Cannabis Industry Involvement:

The Company owns marijuana licenses in California and Nevada. Marijuana is legal in each state; however, marijuana remains illegal under United States federal law and the approach to enforcement of U.S. federal law against marijuana is subject to change. Shareholders and investors need to be aware that federal enforcement actions could adversely affect their investments and that the Company’s ability to support continuing U.S.-based operations and its access private and public capital could be materially adversely affected.

The Company’s business is conducted in a manner consistent with state law and is in compliance with applicable state licensing requirements in the U.S. The Company has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with U.S. federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the U.S.

Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale and possession of cannabis under the Cannabis Act (Canada), readers are cautioned that in the U.S., cannabis is largely regulated at the state level. Notwithstanding the permissive regulatory environment of medical cannabis at some of the state level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. Strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under the U.S. federal law, nor will it provide a defense to any U.S. federal proceeding, which may be brought against the Company. Any such proceedings brought against the Company may materially adversely affect its operations and financial performance in the U.S. market.

Forward-Looking Statements:

This news release contains forward-looking statements or information that relate to our current expectations and views of future events. These statements relate to future events or future performance. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate”, “objective”, “may”, “will”, “might”, “should”, “could”, “can”, “intend”, “expect”, “believe”, “estimate”, “predict”, “potential”, “plan”, “is designed to”, “project”, “continue”, or similar expressions suggest future outcomes or the negative thereof or similar variations. Forward-looking statements may also include, among other things, statements about the future business strategy; expectations of obtaining licenses and permits; expectations regarding expenses, sales and operations; future customer concentration; anticipated cash needs and estimates regarding capital requirements and the need for additional financing; total processing capacity; the ability to anticipate the future needs of customers; plans for future products and enhancements of existing products; future growth strategy and growth rate; future intellectual property; changes in laws and regulations; regulatory approvals and other matters; and anticipated trends and challenges in the markets in which the Company may operate.

Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for our products; anticipated costs and ability to achieve goals; the Company’s ability to complete any contemplated transactions; historical prices of cannabis; and that there will be no regulation or law that will prevent the Company from operating its businesses; the state of the economy in general and capital markets in particular; present and future business strategies; the environment in which the Company will operate in the future; the estimated size of the cannabis market; and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, the reader should not place undue reliance on these forward-looking statements.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: management estimated future capital expenditure costs, revenue, and timeframes for operations; business, economic and capital market conditions; the ability to manage the Company’s operating expenses, which may adversely affect the Company’s financial condition; the Company’s ability to remain competitive; regulatory uncertainties; market conditions and the demand and pricing for our products; exchange rate fluctuations; security threats; the Company’s relationships with its customers, distributors and business partners; the Company’s ability to attract, retain and motivate qualified personnel; industry competition; the impact of technology changes on the Company’s products and industry; the Company’s ability to successfully maintain and enforce its intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of litigation that could materially and adversely affect our business; the Company’s ability to manage its working capital; and the Company’s dependence on key personnel. The Company is not a positive cash flow company and it may not actually achieve its plans, projections, or expectations (the Company has a history of losses).

The securities of the Company are considered highly speculative due to the nature of the Company’s businesses.

Important factors that could cause actual results to differ materially from the Company’s expectations include, consumer sentiment towards the Company’s products and cannabis generally; risks related to the Company’s ability to maintain its licenses issued by governments in good standing; uncertainty with respect to the Company’s ability to grow, store and sell cannabis; risks related to the costs required to meet the obligations related to regulatory compliance; risks related to the extensive control and regulations inherent in the industry in which the Company operates; risks related to governmental regulations, including those relating to taxes and other levies; risks related an early stage business and a business involving an agricultural product and a regulated consumer product; risks related to building brand awareness in a new industry and market; risks relating to restrictions on sales and marketing activities imposed by governments; risks inherent in the agricultural business; risks relating to energy costs; risks relating to product liability claims, regulatory action and litigation; risks relating to recall or return of products; and risks relating to insurance coverage; global economic climate; equipment and building failures; increase in operating costs; decrease in the price of cannabis; security threats; government regulations; loss of key employees and consultants; additional funding requirements; volatility in the securities of the Company; changes in laws; technology failures; failure to obtain permits and licenses; anticipated and unanticipated costs; competition; risks associated with the substantial obligations of being a public company; and failure of counterparties to perform their contractual obligations. This list is not exhaustive of the factors that may affect the forward-looking statements. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements.

Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to the reader or any person resulting from the use of the information in this news release by the reader or its representatives or for omissions from the information in this news release.

Kelowna, British Columbia—Citation Growth Corp. (CSE:CGRO) (OTCQX:CGOTF) (“Citation” or “Company”), a licensed multi-state Cannabis cultivator, producer and retailer, is pleased to announce that it has executed a letter of intent (“LOI”) with Indigenomix International (the “Purchaser”), a private Saskatchewan-based business, dated April 8, 2020. Under the terms of the LOI, Citation will sell their 40 acres of land and two constructed buildings in Celista, BC and also include its late-stage Health Canada License to Cultivate application. Citation’s management team anticipates the execution of a definitive agreement (the “Definitive Agreement”) by June 15, 2020 with the closing of the transaction (the “Closing”) anticipated to follow shortly thereafter upon the satisfaction of such terms and conditions precedent to the Closing, which are customary for transactions of this nature.

“We believe the accretive benefits derived from the sale of the Celista Property and late-stage application will help us continue our focus on the Nevada and California markets as well as give us a substantial non-dilutive capital injection into the company,” commented Erik Anderson, CEO of Citation. “We also feel that our strong synergies with the Indigenomix group will create a dynamic strategic partnership going forward as we share our proprietary organic growing methodologies and decades of scientific research and development.”

Upon completion of the Proposed Transaction, the Company will begin to fund the aggressive expansion of their Apex facility in North Las Vegas, Nevada and also finalize plans to build out cultivation facilities on their land in Desert Hot Springs, California.

Citation anticipates that the cash injection will:

• provide the company with the capital needed to further expand the Apex facility in North Las Vegas in a staged approach that will result in an additional 70,000 sq ft of hybrid greenhouses being constructed on site;
• provide the company with the ability to expand the extraction lab at Apex to handle the additional yield and focus on bringing high-value concentrates and extracts to the Nevada market under the Diamante brand and potential white-label (toll extraction) partnerships
• complete its plans to build out more than 20,000 sq ft of cultivation in California, increase focus on its award-winning dispensary in Desert Hot Springs, Green Leaf Wellness, and expand its presence in the state as a vertically integrated player.

“We believe the upgrades to our lighting system in our Apex North Las Vegas facility will combine with our award-winning genetics library and refined growing methodologies acquired in the FSM acquisition to more than double our yields as well as decrease our power consumption, leading to better margins and increased profitability,” stated Anderson.

Terms of the Proposed Transaction

Citation will turn over the already constructed buildings as well as the land in Celista to the Purchaser. Citation will also facilitate the transfer of the Late-Stage Health Canada Application to the Purchaser. Citation agrees that certain employees will assist the Purchaser to help finalize the Health Canada application and operationalize the facility. In return the Purchaser will pay Citation $8.5 million.

Additional details regarding the Proposed Transaction will be provided in a comprehensive press release if and when the parties enter into the Definitive Agreement. The Definitive Agreement will incorporate the principal terms of the Proposed Transaction described herein and may be modified by agreement between the Company and the Purchaser prior to finalizing the Definitive Agreement. In addition, more detailed terms and conditions of the structure and nature of the Proposed Transaction will be made available after receiving further tax, legal, securities, regulatory and financial advice from the respective advisors. The Proposed Transaction is subject to due diligence by the Purchaser as well as the customary conditions for a transaction of this nature, which include all necessary security-holder and corporate approvals, third-party consents, permits, including those of government authorities, and the approval of the CSE, if required.

Current Equity and Debt Financings

Citation also advises that the second tranche of the previous announced financing is set to close at the end of the month. The Company confirms that there was director participation in the first and second closing of the financing, namely Alnoor Nathoo, Director and Erik Anderson, CEO and Director.

The company is also in talks with a few parties regarding the proposed non-dilutive debt financing on the Apex Property in North Las Vegas.

About Citation Growth Corp.

Citation Growth Corp. (CSE:CGRO) (OTCQX:CGOTF) is a publicly traded company that has been investing in the development of the medical and recreational cannabis space since 2014. Citation has expanded its operating portfolio over time to include cultivation, production and retail offerings in key North American legal jurisdictions such as Nevada, California, Washington and British Columbia. For more information, please visit www.citationgrowth.com.

For Further Information:

Erik Anderson, President and CEO
1-877-438-5448 Ext 713
eanderson@citationgrowth.com

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

Cannabis Industry Involvement:

The Company owns marijuana licenses in California and Nevada. Marijuana is legal in each state; however, marijuana remains illegal under United States federal law and the approach to enforcement of U.S. federal law against marijuana is subject to change. Shareholders and investors need to be aware that federal enforcement actions could adversely affect their investments and that the Company’s ability to support continuing U.S.-based operations and its access private and public capital could be materially adversely affected.

The Company’s business is conducted in a manner consistent with state law and is in compliance with applicable state licensing requirements in the U.S. The Company has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with U.S. federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the U.S.

Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale and possession of cannabis under the Cannabis Act (Canada), readers are cautioned that in the U.S., cannabis is largely regulated at the state level. Notwithstanding the permissive regulatory environment of medical cannabis at some of the state level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. Strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under the U.S. federal law, nor will it provide a defense to any U.S. federal proceeding, which may be brought against the Company. Any such proceedings brought against the Company may materially adversely affect its operations and financial performance in the U.S. market.

Forward-Looking Statements:

This news release contains forward-looking statements or information that relate to our current expectations and views of future events. These statements relate to future events or future performance. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate”, “objective”, “may”, “will”, “might”, “should”, “could”, “can”, “intend”, “expect”, “believe”, “estimate”, “predict”, “potential”, “plan”, “is designed to”, “project”, “continue”, or similar expressions suggest future outcomes or the negative thereof or similar variations. Forward-looking statements may also include, among other things, statements about the future business strategy; expectations of obtaining licenses and permits; expectations regarding expenses, sales and operations; future customer concentration; anticipated cash needs and estimates regarding capital requirements and the need for additional financing; total processing capacity; the ability to anticipate the future needs of customers; plans for future products and enhancements of existing products; future growth strategy and growth rate; future intellectual property; changes in laws and regulations; regulatory approvals and other matters; and anticipated trends and challenges in the markets in which the Company may operate.

Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for our products; anticipated costs and ability to achieve goals; the Company’s ability to complete any contemplated transactions; historical prices of cannabis; and that there will be no regulation or law that will prevent the Company from operating its businesses; the state of the economy in general and capital markets in particular; present and future business strategies; the environment in which the Company will operate in the future; the estimated size of the cannabis market; and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, the reader should not place undue reliance on these forward-looking statements.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: management estimated future capital expenditure costs, revenue, and timeframes for operations; business, economic and capital market conditions; the ability to manage the Company’s operating expenses, which may adversely affect the Company’s financial condition; the Company’s ability to remain competitive; regulatory uncertainties; market conditions and the demand and pricing for our products; exchange rate fluctuations; security threats; the Company’s relationships with its customers, distributors and business partners; the Company’s ability to attract, retain and motivate qualified personnel; industry competition; the impact of technology changes on the Company’s products and industry; the Company’s ability to successfully maintain and enforce its intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of litigation that could materially and adversely affect our business; the Company’s ability to manage its working capital; and the Company’s dependence on key personnel. The Company is not a positive cash flow company and it may not actually achieve its plans, projections, or expectations (the Company has a history of losses).

The securities of the Company are considered highly speculative due to the nature of the Company’s businesses.

Important factors that could cause actual results to differ materially from the Company’s expectations include, consumer sentiment towards the Company’s products and cannabis generally; risks related to the Company’s ability to maintain its licenses issued by governments in good standing; uncertainty with respect to the Company’s ability to grow, store and sell cannabis; risks related to the costs required to meet the obligations related to regulatory compliance; risks related to the extensive control and regulations inherent in the industry in which the Company operates; risks related to governmental regulations, including those relating to taxes and other levies; risks related an early stage business and a business involving an agricultural product and a regulated consumer product; risks related to building brand awareness in a new industry and market; risks relating to restrictions on sales and marketing activities imposed by governments; risks inherent in the agricultural business; risks relating to energy costs; risks relating to product liability claims, regulatory action and litigation; risks relating to recall or return of products; and risks relating to insurance coverage; global economic climate; equipment and building failures; increase in operating costs; decrease in the price of cannabis; security threats; government regulations; loss of key employees and consultants; additional funding requirements; volatility in the securities of the Company; changes in laws; technology failures; failure to obtain permits and licenses; anticipated and unanticipated costs; competition; risks associated with the substantial obligations of being a public company; and failure of counterparties to perform their contractual obligations. This list is not exhaustive of the factors that may affect the forward-looking statements. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements.

Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to the reader or any person resulting from the use of the information in this news release by the reader or its representatives or for omissions from the information in this news release.

CALGARY, LAS VEGAS AND DESERT HOT SPRINGS – March 31, 2020 – Citation Growth Corp. (CSE:CGRO) (OTCQX:CGOTF) (“Citation” or the “Company”), a licensed multi-state cannabis cultivator, producer and retailer, has confirmed it will go ahead with the previously announced Annual General Meeting (“AGM”) on April 23rd at 1:30 p.m. MST; however, due to persisting issues as a result of the COVID-19 pandemic, the AGM will be conducted as a live web broadcast to shareholders rather than being held in person.

“We believe that it’s important to proceed with the AGM as planned,” confirmed CEO Erik Anderson, “but due to the unprecedented effect of COVID-19, we will be forced to host the AGM via video webcast rather than in person. We feel this is the safest and most corporately responsible decision to make at this time and we’re excited to share our progress with our shareholders.”

Citation’s Voting Instruction Form (“VIF”) has been mailed out by Computershare for shareholders to vote by mail, phone or by Internet on or before 1:30 p.m. Mountain Time on Tuesday, April 21, 2020. As part of the webcast, arrangements are being made to allow for a Question and Answer period during the virtual AGM.

In related news, Citation has confirmed the appointment of Shane Dungey to its Board of Directors and is excited by the new relationships he brings from the capital markets space. Mr. Dungey was announced to Citation Board on March 12, 2020 and will be present to take questions at the AGM.

Citation also announces it has completed the first tranche of a non-brokered private placement (the “Private Placement”) of 2,783,793 unites at $0.15 per unit for gross proceeds of $417,569. Each unit consists of one common share and one share purchase warrant. Each warrant is exercisable into one common share at an exercise price of $0.22 per share for a period of eighteen months expiring September 30, 2021. The warrants are subject to an accelerated expiry date if the trading price of the Company’s common shares closes at or above $0.50 per share for a period of ten consecutive trading days. The proceeds from the Private Placement will be used for general working capital purposes. All securities issued under the Private Placement are subject to a four month hold period expiring July 31, 2020. The Company will continue to raise additional capital for specific growth projects in the second and final tranche of this financing.

Management has also released an asset-backed debt financing to the market, which will raise growth capital for their Apex facility in North Las Vegas using the existing land and buildings as security. Citation plans to upgrade the grow lights in each flower room and also expand their extraction lab to run 24/7 under two cross-over shifts daily and seek out toll processing arrangements with other local cannabis cultivators in the state.

“This initiative is our largest short-term opportunity to grow revenues substantially,” commented Anderson. “The Diamante Extraction Lab is world class and we look forward to realizing its full potential as we process our own cannabis biomass and also work with other local cultivators to bring high-end 2.0 products such as vape pens, concentrates and extracts to the Nevada market.”

In light of COVID-19, Citation is pleased to report that no interruptions to its operations in Nevada and California have occurred. Sales have been strong at both the wholesale and retail levels due to increased demand in medical and recreational cannabis products. Citation’s proprietary technology and organic growing platform for medical cannabis increases the beneficial medical ingredients in the cannabis plant and removes any secondary negative aspects of man-made chemical compounds, herbicides, fungicides and pesticides, which have been clearly shown as a source of disease-causing DNA corruption.

“The vast amount research indicates that cannabis is one of the safest consumable natural medicative herbs known to mankind,” said Dr. Josef Tyls. “The incredible fit between elements of the cannabis plant and the human endocannabinoid system allows for maximum benefit for healing and minimizes adverse secondary reactions and/or negative by-products which would impede the healing processes.”

Citation’s organic methodology encompasses a recycling design that allows for water recapture, soil remediation, thermal remediation and minimal venting where undesirable waste products and smells are mitigated. The closed loop environmental processes allow for the maximum benefit to the crops while minimizing loads upon nature, while producing the highest quality medical cannabis.

Over the coming months, Citation management plans to share more information about the organic methodologies and technologies deployed by its scientists and growers.

About Citation Growth Corp.

Citation Growth Corp. (CSE:CGRO) (OTCQX:CGOTF) is a publicly traded company that has been investing in the development of the medical and recreational cannabis space since 2014. Citation has expanded its operating portfolio over time to include cultivation, production and retail offerings in key North American legal jurisdictions such as Nevada, California, Washington and British Columbia. For more information, please visit www.citationgrowth.com.

For Further Information:

Erik Anderson, President and CEO
1-877-438-5448 Ext 713
eanderson@citationgrowth.com

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

Cannabis Industry Involvement:

The Company owns marijuana licenses in California and Nevada. Marijuana is legal in each state; however, marijuana remains illegal under United States federal law and the approach to enforcement of U.S. federal law against marijuana is subject to change. Shareholders and investors need to be aware that federal enforcement actions could adversely affect their investments and that the Company’s ability to support continuing U.S.-based operations and its access private and public capital could be materially adversely affected.

The Company’s business is conducted in a manner consistent with state law and is in compliance with applicable state licensing requirements in the U.S. The Company has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with U.S. federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the U.S.

Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale and possession of cannabis under the Cannabis Act (Canada), readers are cautioned that in the U.S., cannabis is largely regulated at the state level. Notwithstanding the permissive regulatory environment of medical cannabis at some of the state level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. Strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under the U.S. federal law, nor will it provide a defense to any U.S. federal proceeding, which may be brought against the Company. Any such proceedings brought against the Company may materially adversely affect its operations and financial performance in the U.S. market.

Forward-Looking Statements:

This news release contains forward-looking statements or information that relate to our current expectations and views of future events. These statements relate to future events or future performance. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate”, “objective”, “may”, “will”, “might”, “should”, “could”, “can”, “intend”, “expect”, “believe”, “estimate”, “predict”, “potential”, “plan”, “is designed to”, “project”, “continue”, or similar expressions suggest future outcomes or the negative thereof or similar variations. Forward-looking statements may also include, among other things, statements about the future business strategy; expectations of obtaining licenses and permits; expectations regarding expenses, sales and operations; future customer concentration; anticipated cash needs and estimates regarding capital requirements and the need for additional financing; total processing capacity; the ability to anticipate the future needs of customers; plans for future products and enhancements of existing products; future growth strategy and growth rate; future intellectual property; changes in laws and regulations; regulatory approvals and other matters; and anticipated trends and challenges in the markets in which the Company may operate.

Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for our products; anticipated costs and ability to achieve goals; the Company’s ability to complete any contemplated transactions; historical prices of cannabis; and that there will be no regulation or law that will prevent the Company from operating its businesses; the state of the economy in general and capital markets in particular; present and future business strategies; the environment in which the Company will operate in the future; the estimated size of the cannabis market; and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, the reader should not place undue reliance on these forward-looking statements.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: management estimated future capital expenditure costs, revenue, and timeframes for operations; business, economic and capital market conditions; the ability to manage the Company’s operating expenses, which may adversely affect the Company’s financial condition; the Company’s ability to remain competitive; regulatory uncertainties; market conditions and the demand and pricing for our products; exchange rate fluctuations; security threats; the Company’s relationships with its customers, distributors and business partners; the Company’s ability to attract, retain and motivate qualified personnel; industry competition; the impact of technology changes on the Company’s products and industry; the Company’s ability to successfully maintain and enforce its intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of litigation that could materially and adversely affect our business; the Company’s ability to manage its working capital; and the Company’s dependence on key personnel. The Company is not a positive cash flow company and it may not actually achieve its plans, projections, or expectations (the Company has a history of losses).

The securities of the Company are considered highly speculative due to the nature of the Company’s businesses.

Important factors that could cause actual results to differ materially from the Company’s expectations include, consumer sentiment towards the Company’s products and cannabis generally; risks related to the Company’s ability to maintain its licenses issued by governments in good standing; uncertainty with respect to the Company’s ability to grow, store and sell cannabis; risks related to the costs required to meet the obligations related to regulatory compliance; risks related to the extensive control and regulations inherent in the industry in which the Company operates; risks related to governmental regulations, including those relating to taxes and other levies; risks related an early stage business and a business involving an agricultural product and a regulated consumer product; risks related to building brand awareness in a new industry and market; risks relating to restrictions on sales and marketing activities imposed by governments; risks inherent in the agricultural business; risks relating to energy costs; risks relating to product liability claims, regulatory action and litigation; risks relating to recall or return of products; and risks relating to insurance coverage; global economic climate; equipment and building failures; increase in operating costs; decrease in the price of cannabis; security threats; government regulations; loss of key employees and consultants; additional funding requirements; volatility in the securities of the Company; changes in laws; technology failures; failure to obtain permits and licenses; anticipated and unanticipated costs; competition; risks associated with the substantial obligations of being a public company; and failure of counterparties to perform their contractual obligations. This list is not exhaustive of the factors that may affect the forward-looking statements. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements.

Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to the reader or any person resulting from the use of the information in this news release by the reader or its representatives or for omissions from the information in this news release.

CALGARY, LAS VEGAS AND DESERT HOT SPRINGS – March 23, 2020 – Citation Growth Corp. (CSE:CGRO) (OTCQX:CGOTF) (“Citation” or the “Company”), a licensed multi-state cannabis cultivator, producer and retailer, has completed a comprehensive review of all operations in light of the Covid-19 pandemic and is pleased to report that no interruptions to its business will occur at this time.

Citation’s management team met with all staff to begin the week and the operations team put the following proactive measures into place immediately:

– All operations were thoroughly sanitized and additional hygiene protocols were put into place to exceed public health guidelines set out by the states of California and Nevada;
– All employees are self-accessing for Covid-19 using tools provided by various government agencies and anyone displaying symptoms has been asked to seek medical attention and remain at home for 14 days;
– Staff at all facilities will work either in isolation or at a minimum distance of 6 feet from other co-workers and customers at all times;
– Lunch and regular work breaks will be staggered in order to minimize staff contact;
– Non-operational staff, including management, were encouraged to work from home until further notice and all IT security systems were enhanced to allow for remote work.

NEVADA CULTIVATION AND PRODUCTION

Earlier last week, Nevada Governor, Steve Sisolak, instructed all non-essential businesses to cease operations for the next 30 days in response to the state’s public health efforts to contain COVID-19. Licensed cannabis cultivation and production facilities remain open and Citation continues to operate without issue. The staff have all committed to working in compliance with social distancing guidelines and will tend to their duties in near isolation whenever possible. Contingency planning will continue to be reviewed on a daily basis via conference calls with management.

CALIFORNIA RETAIL DISPENSARY

On Thursday, March 19, California Governor, Gavin Newsom, announced a new order for all residents to stay at home and for all non-essential businesses to close. Essential services, including cannabis dispensaries, are allowed to remain open and Citation’s Desert Hot Springs dispensary, Green Leaf Wellness, continues to provide cannabis to patients. Staff has worked tirelessly to sanitize the entire shop, implement a 6-foot barrier between all people inside and not allow more than two customers in the shop at any time. Green Leaf Wellness has seen a big jump in sales since the outbreak of Covid-19 as customers can also utilize an express window at the dispensary with delivery service available should it be needed.

“This is obviously an unprecedented and very trying time for everyone,” CEO Erik Anderson stated. “I am so impressed with how quickly our operations teams in Nevada and California implemented new safety measures to combat the Covid-19 threat. They all put in the extra work to ensure our facilities were properly sterilized and that co-worker and customer interaction is conducted in complete compliance with state guidelines for health and safety.”

Citation will continue to monitor the Covid-19 pandemic and stay proactive with health and safety protocols at all company locations.

About Citation Growth Corp.

Citation Growth Corp. (CSE:CGRO) (OTCQX:CGOTF) is a publicly traded company that has been investing in the development of the medical and recreational cannabis space since 2014. Citation has expanded its operating portfolio over time to include cultivation, production and retail offerings in key North American legal jurisdictions such as Nevada, California, Washington and British Columbia. For more information, please visit www.citationgrowth.com.

For Further Information:

Erik Anderson, President and CEO
1-877-438-5448 Ext 713
eanderson@citationgrowth.com

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

Cannabis Industry Involvement:

The Company owns marijuana licenses in California and Nevada. Marijuana is legal in each state; however, marijuana remains illegal under United States federal law and the approach to enforcement of U.S. federal law against marijuana is subject to change. Shareholders and investors need to be aware that federal enforcement actions could adversely affect their investments and that the Company’s ability to support continuing U.S.-based operations and its access private and public capital could be materially adversely affected.

The Company’s business is conducted in a manner consistent with state law and is in compliance with applicable state licensing requirements in the U.S. The Company has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with U.S. federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the U.S.

Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale and possession of cannabis under the Cannabis Act (Canada), readers are cautioned that in the U.S., cannabis is largely regulated at the state level. Notwithstanding the permissive regulatory environment of medical cannabis at some of the state level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. Strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under the U.S. federal law, nor will it provide a defense to any U.S. federal proceeding, which may be brought against the Company. Any such proceedings brought against the Company may materially adversely affect its operations and financial performance in the U.S. market.

Forward-Looking Statements:

This news release contains forward-looking statements or information that relate to our current expectations and views of future events. These statements relate to future events or future performance. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate”, “objective”, “may”, “will”, “might”, “should”, “could”, “can”, “intend”, “expect”, “believe”, “estimate”, “predict”, “potential”, “plan”, “is designed to”, “project”, “continue”, or similar expressions suggest future outcomes or the negative thereof or similar variations. Forward-looking statements may also include, among other things, statements about the future business strategy; expectations of obtaining licenses and permits; expectations regarding expenses, sales and operations; future customer concentration; anticipated cash needs and estimates regarding capital requirements and the need for additional financing; total processing capacity; the ability to anticipate the future needs of customers; plans for future products and enhancements of existing products; future growth strategy and growth rate; future intellectual property; changes in laws and regulations; regulatory approvals and other matters; and anticipated trends and challenges in the markets in which the Company may operate.

Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for our products; anticipated costs and ability to achieve goals; the Company’s ability to complete any contemplated transactions; historical prices of cannabis; and that there will be no regulation or law that will prevent the Company from operating its businesses; the state of the economy in general and capital markets in particular; present and future business strategies; the environment in which the Company will operate in the future; the estimated size of the cannabis market; and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, the reader should not place undue reliance on these forward-looking statements.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: management estimated future capital expenditure costs, revenue, and timeframes for operations; business, economic and capital market conditions; the ability to manage the Company’s operating expenses, which may adversely affect the Company’s financial condition; the Company’s ability to remain competitive; regulatory uncertainties; market conditions and the demand and pricing for our products; exchange rate fluctuations; security threats; the Company’s relationships with its customers, distributors and business partners; the Company’s ability to attract, retain and motivate qualified personnel; industry competition; the impact of technology changes on the Company’s products and industry; the Company’s ability to successfully maintain and enforce its intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of litigation that could materially and adversely affect our business; the Company’s ability to manage its working capital; and the Company’s dependence on key personnel. The Company is not a positive cash flow company and it may not actually achieve its plans, projections, or expectations (the Company has a history of losses).

The securities of the Company are considered highly speculative due to the nature of the Company’s businesses.

Important factors that could cause actual results to differ materially from the Company’s expectations include, consumer sentiment towards the Company’s products and cannabis generally; risks related to the Company’s ability to maintain its licenses issued by governments in good standing; uncertainty with respect to the Company’s ability to grow, store and sell cannabis; risks related to the costs required to meet the obligations related to regulatory compliance; risks related to the extensive control and regulations inherent in the industry in which the Company operates; risks related to governmental regulations, including those relating to taxes and other levies; risks related an early stage business and a business involving an agricultural product and a regulated consumer product; risks related to building brand awareness in a new industry and market; risks relating to restrictions on sales and marketing activities imposed by governments; risks inherent in the agricultural business; risks relating to energy costs; risks relating to product liability claims, regulatory action and litigation; risks relating to recall or return of products; and risks relating to insurance coverage; global economic climate; equipment and building failures; increase in operating costs; decrease in the price of cannabis; security threats; government regulations; loss of key employees and consultants; additional funding requirements; volatility in the securities of the Company; changes in laws; technology failures; failure to obtain permits and licenses; anticipated and unanticipated costs; competition; risks associated with the substantial obligations of being a public company; and failure of counterparties to perform their contractual obligations. This list is not exhaustive of the factors that may affect the forward-looking statements. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements.

Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to the reader or any person resulting from the use of the information in this news release by the reader or its representatives or for omissions from the information in this news release.

Mr. Dungey is a capital markets veteran, having more than 19 years’ experience in institutional asset management, institutional sales and trading, equity financings, private placements and institutional equity research. He is also cannabis industry expert, combining his years of institutional sales and trading experience with AltaCorp Capital Inc., who was very active in the Canadian cannabis space, with his more recent role as the Vice President of Investor Relations for The Green Organic Dutchman (TGOD).

“We are very pleased to welcome Mr. Dungey to the Board of Directors at Citation Growth,” CEO Erik Anderson stated. “His experience in the cannabis industry goes back many years and, combined with his expertise in capital markets and institutional equity, we feel he is the perfect fit for Citation Growth as we turn the corner to roll out a revised strategy focused on cash flow positive operations in Nevada and California intermingled with exploring profitable growth opportunities in Canada and the US.”

The timing of the appointment was important as Citation recently confirmed that its 2020 AGM will be held in Calgary, AB on April 23rd. For more information, please refer to the “Investors” section of the Company’s website where a copy of the “Corporate Update from CEO March 9, 2020” letter to investors is available for download.

“I am very excited to bring my experience in the capital markets and cannabis space to Citation Growth,” commented Mr. Dungey. “I believe the new management team is on the right path to maximizing opportunities as a multi-state operator in Nevada and California and I am looking forward to exploring growth opportunities throughout North America.”

Previous to joining AltaCorp and TGOD, Mr. Dungey was Vice President, Institutional Sales & Trading at Macquarie Securities, and prior thereto, Tristone Capital and AEGON Capital Management. His volunteer commitments include sitting as Vice President on the Board of Directors for Lupus Canada, Director for the non-profit South West Soccer Association and Play4Kids, a non-profit organization. Mr. Dungey holds a BA (Hons) in Political Science from York University.

About Citation Growth Corp.

Citation Growth Corp. (CSE:CGRO) (OTCQX:CGOTF) is a publicly traded company that has been investing in the development of the medical and recreational cannabis space since 2014. Citation has expanded its operating portfolio over time to include cultivation, production and retail offerings in key North American legal jurisdictions such as Nevada, California, Washington and British Columbia. For more information, please visit www.citationgrowth.com.

For Further Information:

Erik Anderson, President and CEO
1-877-438-5448 Ext 713
eanderson@citationgrowth.com

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

Cannabis Industry Involvement:

The Company owns marijuana licenses in California and Nevada. Marijuana is legal in each state; however, marijuana remains illegal under United States federal law and the approach to enforcement of U.S. federal law against marijuana is subject to change. Shareholders and investors need to be aware that federal enforcement actions could adversely affect their investments and that the Company’s ability to support continuing U.S.-based operations and its access private and public capital could be materially adversely affected.

The Company’s business is conducted in a manner consistent with state law and is in compliance with applicable state licensing requirements in the U.S. The Company has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with U.S. federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the U.S.

Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale and possession of cannabis under the Cannabis Act (Canada), readers are cautioned that in the U.S., cannabis is largely regulated at the state level. Notwithstanding the permissive regulatory environment of medical cannabis at some of the state level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. Strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under the U.S. federal law, nor will it provide a defense to any U.S. federal proceeding, which may be brought against the Company. Any such proceedings brought against the Company may materially adversely affect its operations and financial performance in the U.S. market.

Forward-Looking Statements:

This news release contains forward-looking statements or information that relate to our current expectations and views of future events. These statements relate to future events or future performance. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate”, “objective”, “may”, “will”, “might”, “should”, “could”, “can”, “intend”, “expect”, “believe”, “estimate”, “predict”, “potential”, “plan”, “is designed to”, “project”, “continue”, or similar expressions suggest future outcomes or the negative thereof or similar variations. Forward-looking statements may also include, among other things, statements about the future business strategy; expectations of obtaining licenses and permits; expectations regarding expenses, sales and operations; future customer concentration; anticipated cash needs and estimates regarding capital requirements and the need for additional financing; total processing capacity; the ability to anticipate the future needs of customers; plans for future products and enhancements of existing products; future growth strategy and growth rate; future intellectual property; changes in laws and regulations; regulatory approvals and other matters; and anticipated trends and challenges in the markets in which the Company may operate.

Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for our products; anticipated costs and ability to achieve goals; the Company’s ability to complete any contemplated transactions; historical prices of cannabis; and that there will be no regulation or law that will prevent the Company from operating its businesses; the state of the economy in general and capital markets in particular; present and future business strategies; the environment in which the Company will operate in the future; the estimated size of the cannabis market; and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, the reader should not place undue reliance on these forward-looking statements.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: management estimated future capital expenditure costs, revenue, and timeframes for operations; business, economic and capital market conditions; the ability to manage the Company’s operating expenses, which may adversely affect the Company’s financial condition; the Company’s ability to remain competitive; regulatory uncertainties; market conditions and the demand and pricing for our products; exchange rate fluctuations; security threats; the Company’s relationships with its customers, distributors and business partners; the Company’s ability to attract, retain and motivate qualified personnel; industry competition; the impact of technology changes on the Company’s products and industry; the Company’s ability to successfully maintain and enforce its intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of litigation that could materially and adversely affect our business; the Company’s ability to manage its working capital; and the Company’s dependence on key personnel. The Company is not a positive cash flow company and it may not actually achieve its plans, projections, or expectations (the Company has a history of losses).

The securities of the Company are considered highly speculative due to the nature of the Company’s businesses.

Important factors that could cause actual results to differ materially from the Company’s expectations include, consumer sentiment towards the Company’s products and cannabis generally; risks related to the Company’s ability to maintain its licenses issued by governments in good standing; uncertainty with respect to the Company’s ability to grow, store and sell cannabis; risks related to the costs required to meet the obligations related to regulatory compliance; risks related to the extensive control and regulations inherent in the industry in which the Company operates; risks related to governmental regulations, including those relating to taxes and other levies; risks related an early stage business and a business involving an agricultural product and a regulated consumer product; risks related to building brand awareness in a new industry and market; risks relating to restrictions on sales and marketing activities imposed by governments; risks inherent in the agricultural business; risks relating to energy costs; risks relating to product liability claims, regulatory action and litigation; risks relating to recall or return of products; and risks relating to insurance coverage; global economic climate; equipment and building failures; increase in operating costs; decrease in the price of cannabis; security threats; government regulations; loss of key employees and consultants; additional funding requirements; volatility in the securities of the Company; changes in laws; technology failures; failure to obtain permits and licenses; anticipated and unanticipated costs; competition; risks associated with the substantial obligations of being a public company; and failure of counterparties to perform their contractual obligations. This list is not exhaustive of the factors that may affect the forward-looking statements. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements.

Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to the reader or any person resulting from the use of the information in this news release by the reader or its representatives or for omissions from the information in this news release.

CALGARY, ALBERTA – March 10, 2020 – Citation Growth Corp. (CSE:CGRO) (OTCQX:CGOTF) (“Citation” or the “Company”), a licensed cannabis cultivator, producer and retailer, today provided an update for recent corporate activities and announced a date for its Annual General Meeting.

Erik Anderson, a proven business operator and veteran turnaround expert, was recently appointed as the Company’s President and CEO and to the Board of Directors on February 11, 2020. Under Anderson, the Company is committing to providing regular updates to investors on activities, challenges and accomplishments.

“We have certainly had an eventful start to the year, beginning with and the hiring of a new CFO, Kevin Cornish, and my appointment to the company. Kevin and I have followed an aggressive plan for my first 30 days to review our operations and develop strategic plans. I have visited all of Citation’s facilities, toured our operations and met with our people. We have also made progress in how we will separate Citation from ACC Enterprises to resolve a dispute between the companies. I am extremely positive about the opportunities we have as a business, the products we are creating for customers and the returns we can generate for investors,” said Anderson.

“We have assessed our cannabis cultivation and production facilities in North Las Vegas, Nevada, our Green Leaf Wellness retail dispensary in Desert Hot Springs, California, our land and buildings in Lynden, Washington, and our early-stage cultivation site in Celista, British Columbia. We have developed initial plans that will see us maximize the profitability of these operations, expand select operations where we see strong growth potential and divest certain lesser-performing assets thereby generating additional funds for growth.

“We will move fast and we will move smart as a company. We are making decisions that will make us a more efficient organization and a more effective one. We recently completed a non-brokered private placement to generate additional working capital. We’re also considering debt financing alternatives to provide growth capital for expansion. And I expect to add a new Board member in the very near term to assist us in further developing our approach to funding and corporate development.”

The Company will hold its AGM in Calgary, Alberta on April 23, 2020 at 1:30pm MT at the Sheraton Eau Claire hotel in the Foxglove Room. The Company expects to further outline its plans for concentrating on the free cash flow potential in Nevada and California, the expansion of its U.S. assets that are profitable, the various operational efficiencies being employed, and the options available to complete construction of the Celista facility.

For more information, a copy of the CEO’s Letter to Shareholders is available for download here

About Citation Growth Corp.

Citation Growth Corp. (CSE:CGRO) (OTCQX:CGOTF) is a publicly traded company that has been investing in the development of the medical and recreational cannabis space since 2014. Citation has expanded its operating portfolio over time to include cultivation, production and retail offerings in key North American legal jurisdictions such as Nevada, California, Washington and British Columbia. For more information, please visit www.citationgrowth.com.

For Further Information:

Erik Anderson, President and CEO
1-877-438-5448 Ext 713
eanderson@citationgrowth.com

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

Cannabis Industry Involvement:

The Company owns marijuana licenses in California and Nevada. Marijuana is legal in each state; however, marijuana remains illegal under United States federal law and the approach to enforcement of U.S. federal law against marijuana is subject to change. Shareholders and investors need to be aware that federal enforcement actions could adversely affect their investments and that the Company’s ability to support continuing U.S.-based operations and its access private and public capital could be materially adversely affected.

The Company’s business is conducted in a manner consistent with state law and is in compliance with applicable state licensing requirements in the U.S. The Company has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with U.S. federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the U.S.

Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale and possession of cannabis under the Cannabis Act (Canada), readers are cautioned that in the U.S., cannabis is largely regulated at the state level. Notwithstanding the permissive regulatory environment of medical cannabis at some of the state level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. Strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under the U.S. federal law, nor will it provide a defense to any U.S. federal proceeding, which may be brought against the Company. Any such proceedings brought against the Company may materially adversely affect its operations and financial performance in the U.S. market.

Forward-Looking Statements:

This news release contains forward-looking statements or information that relate to our current expectations and views of future events. These statements relate to future events or future performance. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate”, “objective”, “may”, “will”, “might”, “should”, “could”, “can”, “intend”, “expect”, “believe”, “estimate”, “predict”, “potential”, “plan”, “is designed to”, “project”, “continue”, or similar expressions suggest future outcomes or the negative thereof or similar variations. Forward-looking statements may also include, among other things, statements about the future business strategy; expectations of obtaining licenses and permits; expectations regarding expenses, sales and operations; future customer concentration; anticipated cash needs and estimates regarding capital requirements and the need for additional financing; total processing capacity; the ability to anticipate the future needs of customers; plans for future products and enhancements of existing products; future growth strategy and growth rate; future intellectual property; changes in laws and regulations; regulatory approvals and other matters; and anticipated trends and challenges in the markets in which the Company may operate.

Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for our products; anticipated costs and ability to achieve goals; the Company’s ability to complete any contemplated transactions; historical prices of cannabis; and that there will be no regulation or law that will prevent the Company from operating its businesses; the state of the economy in general and capital markets in particular; present and future business strategies; the environment in which the Company will operate in the future; the estimated size of the cannabis market; and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, the reader should not place undue reliance on these forward-looking statements.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: management estimated future capital expenditure costs, revenue, and timeframes for operations; business, economic and capital market conditions; the ability to manage the Company’s operating expenses, which may adversely affect the Company’s financial condition; the Company’s ability to remain competitive; regulatory uncertainties; market conditions and the demand and pricing for our products; exchange rate fluctuations; security threats; the Company’s relationships with its customers, distributors and business partners; the Company’s ability to attract, retain and motivate qualified personnel; industry competition; the impact of technology changes on the Company’s products and industry; the Company’s ability to successfully maintain and enforce its intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of litigation that could materially and adversely affect our business; the Company’s ability to manage its working capital; and the Company’s dependence on key personnel. The Company is not a positive cash flow company and it may not actually achieve its plans, projections, or expectations (the Company has a history of losses).

The securities of the Company are considered highly speculative due to the nature of the Company’s businesses.

Important factors that could cause actual results to differ materially from the Company’s expectations include, consumer sentiment towards the Company’s products and cannabis generally; risks related to the Company’s ability to maintain its licenses issued by governments in good standing; uncertainty with respect to the Company’s ability to grow, store and sell cannabis; risks related to the costs required to meet the obligations related to regulatory compliance; risks related to the extensive control and regulations inherent in the industry in which the Company operates; risks related to governmental regulations, including those relating to taxes and other levies; risks related an early stage business and a business involving an agricultural product and a regulated consumer product; risks related to building brand awareness in a new industry and market; risks relating to restrictions on sales and marketing activities imposed by governments; risks inherent in the agricultural business; risks relating to energy costs; risks relating to product liability claims, regulatory action and litigation; risks relating to recall or return of products; and risks relating to insurance coverage; global economic climate; equipment and building failures; increase in operating costs; decrease in the price of cannabis; security threats; government regulations; loss of key employees and consultants; additional funding requirements; volatility in the securities of the Company; changes in laws; technology failures; failure to obtain permits and licenses; anticipated and unanticipated costs; competition; risks associated with the substantial obligations of being a public company; and failure of counterparties to perform their contractual obligations. This list is not exhaustive of the factors that may affect the forward-looking statements. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements.

Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to the reader or any person resulting from the use of the information in this news release by the reader or its representatives or for omissions from the information in this news release.

Dear Investors:

I would like to introduce myself as the new President and CEO of Citation Growth Corp. Open
communication is very important to me and I am committed to ensuring that investors, employees and the
market are always aware of our activities, challenges and accomplishments.

Our Q3 2019 financial reports and MD&A (to December 31, 2019) were both posted to SEDAR last week;
however, since much has transpired already in early 2020, I thought you might appreciate a more up-to-date
recap of management activities since the beginning of the New Year.

With over 27 years experience running businesses (both public and private) and having turned companies
around before, my first goal was to travel to each CGRO facility/asset for a site tour and to meet with
everyone who works at Citation. Here are some achievements and findings from my first few weeks on the
job:

  • Hired a new CFO, Kevin Cornish, who is a highly educated executive with cannabis industry
    experience and a background in successful company turn-arounds;
  • Toured the Apex (North Las Vegas) facility and interviewed all staff on four occasions and the
    Pahrump ACC facility on two occasions;
  • Toured the Desert Hot Springs (Palm Springs) dispensary and parcels of land in California and
    interviewed staff;
  • Toured the Celista, British Columbia facility in Canada and met with the Canadian grow team;
  • Met with our staff in Kelowna, BC;
  • Toured the Lynden, Washington property;
  • Reached out to various shareholders and noteholders and replied to various calls and emails
    from the investor community;
  • Met with our Controller based in Vancouver and our investors in the Celista asset;
  • Completed an in-depth review of all A/R, A/P and supplier contracts with the goal being to
    minimize unnecessary cash outflow and maximize profitability;
  • Sourced and appointed a new member of our Board of Directors, who will be announced before
    the end of next week. We are excited to welcome a professional who brings over 20 years’
    experience in capital markets to Citation as well as more than five years of cannabis experience
    from his time at a leading investment dealer in the space and Canadian cannabis cultivator.

    Kevin and I are working on a complete re-build of our pro forma financials (literally built from the ground up)
    and will distribute an updated Investor Presentation prior to the AGM, which has been scheduled for 1:30pm
    on April 23rd at the Sheraton Eau Claire (Foxglove Room) in Calgary, Alberta. This deck will highlight our
    new strategy of concentrating on the free cash flow potential in Nevada and California, the expansion of
    our US assets (non-dilutive and centered around profitable growth), various operational efficiencies we
    have already put into place as well as the opportunity to complete construction at the Celista facility that
    will grant us our License to Cultivate by Health Canada.

    I have also primed discussions with Citation’s legal counsel in Nevada pertaining to a resolution of the
    dispute between Citation and ACC Enterprises. A draft settlement agreement has been circulated and the
    parties believe a settlement is achievable. I will provide further updates on this initiative as the process
    moves along.

    Here are some observations from each Citation asset/facility:

    North Las Vegas – Apex
  • The Apex North Las Vegas facility is world class, which was proven by being awarded a
    Cannabis Cup award for the Fiore Superglue strain in December;
  • We are actively growing and cultivating several high-end cannabis flower strains with established
    downstream retail dispensary relationships across Nevada;
  • We are also converting cannabis flower to extracts and concentrates and producing our own
    brand of vape pens and packaged concentrates (Fiore and Diamante brands).
  • Immediate expansion of the extraction lab at Apex represents a huge potential to increase
    revenue and profitability in a short timeframe. We are already approaching other cannabis
    growers in the state to offer a “toll processing” service to convert their flower into high-dollar
    extracts, distillates and concentrates.
  • With 7.2 acres of land at Apex, we have plenty of room to expand operations (up to 8-10x our
    current footprint);
  • We are highly focused on this asset and will look to expand here aggressively as the Nevada
    cannabis market is currently restricted to new players (a good thing) and Citation has proven that
    our products are garnering higher-than-average wholesale prices to the retail community;
  • Average yields for the Apex facility have been approximately 80 pounds per month with the
    potential to grow to 150 pounds/month once the facility is fully optimized;
  • the extraction lab has only begun to produce concentrates and extracts, but over the 5-week
    period from late September to early November, approximately $200,000 worth of wholesale
    products were produced running a single 8-hour shift (roughly 40% capacity); we will seek to add
    a second crossover shift to maximize the potential output of these high value concentrates,
    distillates and extracts;
  • We also have two cultivation licenses assigned to this property (PhenoFarm and Eco Nevada)
    and we are looking into the possibility of selling one license, understanding that the moratorium
    on transferring licenses in Nevada will end sometime in 2020.

    Desert Hot Springs – California
  • Our dispensary, Green Leaf Wellness, is fully operational with a good mix of products, including
    2.0 products such as beverages, edibles, vape pens, etc.;
  • Our rating on WeedMaps is 4.7/5 and the foot traffic is consistent;
  • There are five other dispensaries in the same vicinity so it’s encouraging to learn that we have a
    good reputation for service and supply;
  • We have two parcels of land in the area that we are actively applying for CUP extensions of 10
    years as there is a real possibility to develop these parcels into grow operations over time;
  • We have two parties interested in buying the dispensary and land, but we think it’s prudent to
    begin sending a rotation of management down south to “work the floor” over the next few months
    to determine if optimization and increased revenue and margin potential exists.

    Celista, British Columbia (Canada)
  • We met with the local grow team as well as the investor group and took a tour of the facility,
    which has halted construction;
  • The 40 acres of land and two buildings (each with 10,000 square feet of cultivation and
    production space) are in good shape and ready to resume construction;
  • We estimate that $1.5mm will be required to finish construction of Building One, which when
    completed will allow Citation to complete our License to Cultivate application to Health Canada;
  • Building Two will require approximately $4mm in funding to complete;
  • Once both buildings are complete, our expected yield and revenue potential will be approximately
    1,500 pounds per building per year and north of $8mm in annual revenue (conservative
    estimates);
  • In speaking with our local growers, we were impressed by their technical expertise and clearly
    superior growing methodologies and outputs. We appear to have a genetics library that is not
    only unique and proprietary in the Canadian landscape, but also accompanied by several
    decades of experience coming from the MMAR/MMPR and micro grow industry in BC. There is
    also a focus on highly effective medical products and since there is potential to export medical
    products to Europe (for more revenue per gram than in Canada) we feel that creating a brand
    strategy around medicinal cannabis will be a natural evolution – both domestically and
    internationally;
  • An extraction lab is planned for one of the first two buildings, but we also have several
    relationships with nearby production labs in BC, meaning a JV to produce extracts and
    concentrates is also likely for the region;
  • For the remaining footprint on the 40 acres in Celista, there are several options to consider for
    future growth, namely: a) constructing an additional eight 10,000 square foot buildings owned by
    Citation (a total of 100,000 square feet of indoor cultivation), b) deploying modular buildings to
    provide a “community gardens” opportunity for local micro and craft growers, and/or c) growing
    outdoors on the bare land given the suitable agricultural growing environment.
  • We will continue to monitor the landscape for cannabis in Canada as the market has obviously
    been depressed for close to a year now. Any go-forward plan will be supported by sound
    fundamentals and financials.

    Lynden, Washington
  • We toured the 13 acre site and inspected the 26,000 square foot building, which is set up to
    house a grow operation;
  • A local real estate agent believes he has a buyer for the land and buildings, which are currently
    zoned for agricultural use;
  • We have rented out Building D to a local truck repair business who provides service to the local
    agricultural community;
  • Given that our short-term focus is going to be in Nevada and California, I have recommended to
    the Board that we sell the Washington asset as soon as possible and divert the sale proceeds to
    working capital and growth in our two US operations.

    OVERALL State of the Nation

    The past few months have been turbulent and challenging for the entire cannabis industry in North America
    and Citation Growth has not been immune to the sell side pressure in the marketplace. That said, Kevin
    and I have completed a comprehensive review of all operating facilities and non-operating assets to
    determine that our asset base (including licenses, equipment, retail brands and proprietary growing
    techniques) is in good shape relative to the market. If we are successful in selling our Washington asset
    and one of the Nevada license packages, we would greatly improve our working capital as well as fund a
    good portion of the Apex expansion.

    Green Leaf Wellness continues to be revenue neutral and we believe our optimization efforts over the
    coming months will begin to generate positive cash flow by the summer. We are also planning to bring Apex
    back up to full operational standards, which will result in generating positive cash flow on a monthly basis
    in our Q2/Q3 time frame. We have existing investors in the Celista asset who have expressed interest in re-
    starting construction and we are actively talking to new investors on all three prime assets. A recent non-brokered
    private placement has provided some necessary working capital that will give us the runway the
    new Board and Management Team needs to take off. We have also discussed non-dilutive debt financing
    to provide growth capital for expansion for Nevada and California.

    Our new management team will continue to focus on making progress on a day-by-day basis. I have turned
    companies around before and I believe we can do so with Citation. Over the next few quarters, my goal is
    to revitalize the company that will boast of positive US cash flow, non-dilutive expansion opportunities in
    the US and Canada, medical export opportunities to Europe and other parts of the world, top-shelf brand
    awareness at the retail level in the US and a fundamentally sound business strategy led by a solid
    management team.

    Open communication is very important to me and I would be happy to take your questions and/or discuss
    the finer details of our new strategy with you at any time. Should you wish to ask any questions in advance
    of the AGM, we have scheduled a conference call for Tuesday, March 17 at 2pm Mountain Standard Time.
    You may also email any comments or questions to IR@citationgrowth.com and we will respond quickly.

    Sincerely,
    Erik Anderson
    President & CEO
    Citation Growth Corp

    You can dial in using the conference bridge (toll free in the US and Canada):
    +1.778.819.8331 and passcode 370150#

KELOWNA, BRITISH COLUMBIA – February 13, 2020 – Citation Growth Corp. (CSE: CGRO) (OTCQX: CGOTF) (“Citation” or the “Company”), a vertically integrated licensed cannabis operator, has marked a “new beginning” in its Nevada operations to coincide with recent Senior Management, Executive and Board changes. The addition of multiple advanced genetics to our established Cannabis Genetics Breeding Program (the “CGBP”) compliments our hybrid strain, Superglue, which was awarded the 1st place High Times Cannabis Cup winner eight weeks ago in Las Vegas. Citation expects to continue to build a superior genetics library of strains that will be enhanced by proprietary organic grow methodologies.

“I’m excited to begin working immediately on a number of key priorities that support our business strategy. Citation Growth has built a truly strong foundation for the future, including award-winning premium organic brands, industry-leading cultivation methodologies and a dedication to operational excellence,” stated newly appointed CEO Erik Anderson. “We have a tremendous opportunity to drive profitable growth and cash flow by expanding our market position across all market segments and with new strains and product forms – and this work is already underway in our Nevada operations. The company is currently looking at non-dilutive financing options to expand our Nevada operations to meet the ever growing demand.”

The Nevada adult recreational market – and specifically the Las Vegas market – demands high THC dominant varieties. Citation is extremely proud to be providing consumers with our clean, triple-certified organic products, which consistently yield test results between 23-32% THC. To fulfill the “entourage effect,” our Café Fiore genetics tested with a higher than average inclusion of the cannabigerol molecule, CBGa. Researchers are further exploring CBG to treat bacterial infections such as MRSA, glaucoma, neurodegenerative conditions and tumors.

CBG can cost upwards of approximately $10,000 per pound while the same amount of CBD is priced around approximately $1,800 per pound. “The breeding focus for our US and Canadian operations is the implementation of potent, effective cannabinoid profiles that are not only enhanced but intensified with our shared organic cultivation methodologies,” confirmed Anderson. “In advance of US federal legalization, we are solidifying our position in the market to provide full spectrum flower and distillates to connoisseur consumers and medical patients across North America.”

About Citation Growth Corp.

Citation Growth Corp. (CSE:CGRO) (OTCQX:CGOTF) is a publicly traded company that has been investing in the development of the medical and recreational cannabis space since 2014. Citation has expanded its operating portfolio over time to include cultivation, production and retail offerings in key North American legal jurisdictions such as Nevada, California, Washington and British Columbia. For more information, please visit www.citationgrowth.com.

For Further Information:

Erik Anderson, President and CEO
1-877-438-5448 Ext 1
eanderson@citationgrowth.com

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

Cannabis Industry Involvement:

The Company owns marijuana licenses in California and Nevada. Marijuana is legal in each state; however, marijuana remains illegal under United States federal law and the approach to enforcement of U.S. federal law against marijuana is subject to change. Shareholders and investors need to be aware that federal enforcement actions could adversely affect their investments and that the Company’s ability to support continuing U.S.-based operations and its access private and public capital could be materially adversely affected.

The Company’s business is conducted in a manner consistent with state law and is in compliance with applicable state licensing requirements in the U.S. The Company has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with U.S. federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the U.S.

Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale and possession of cannabis under the Cannabis Act (Canada), readers are cautioned that in the U.S., cannabis is largely regulated at the state level. Notwithstanding the permissive regulatory environment of medical cannabis at some of the state level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. Strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under the U.S. federal law, nor will it provide a defense to any U.S. federal proceeding, which may be brought against the Company. Any such proceedings brought against the Company may materially adversely affect its operations and financial performance in the U.S. market.

Forward-Looking Statements:

This news release contains forward-looking statements or information that relate to our current expectations and views of future events. These statements relate to future events or future performance. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate”, “objective”, “may”, “will”, “might”, “should”, “could”, “can”, “intend”, “expect”, “believe”, “estimate”, “predict”, “potential”, “plan”, “is designed to”, “project”, “continue”, or similar expressions suggest future outcomes or the negative thereof or similar variations. Forward-looking statements may also include, among other things, statements about the future business strategy; expectations of obtaining licenses and permits; expectations regarding expenses, sales and operations; future customer concentration; anticipated cash needs and estimates regarding capital requirements and the need for additional financing; total processing capacity; the ability to anticipate the future needs of customers; plans for future products and enhancements of existing products; future growth strategy and growth rate; future intellectual property; changes in laws and regulations; regulatory approvals and other matters; and anticipated trends and challenges in the markets in which the Company may operate.

Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for our products; anticipated costs and ability to achieve goals; the Company’s ability to complete any contemplated transactions; historical prices of cannabis; and that there will be no regulation or law that will prevent the Company from operating its businesses; the state of the economy in general and capital markets in particular; present and future business strategies; the environment in which the Company will operate in the future; the estimated size of the cannabis market; and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, the reader should not place undue reliance on these forward-looking statements.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: management estimated future capital expenditure costs, revenue, and timeframes for operations; business, economic and capital market conditions; the ability to manage the Company’s operating expenses, which may adversely affect the Company’s financial condition; the Company’s ability to remain competitive; regulatory uncertainties; market conditions and the demand and pricing for our products; exchange rate fluctuations; security threats; the Company’s relationships with its customers, distributors and business partners; the Company’s ability to attract, retain and motivate qualified personnel; industry competition; the impact of technology changes on the Company’s products and industry; the Company’s ability to successfully maintain and enforce its intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of litigation that could materially and adversely affect our business; the Company’s ability to manage its working capital; and the Company’s dependence on key personnel. The Company is not a positive cash flow company and it may not actually achieve its plans, projections, or expectations (the Company has a history of losses).

The securities of the Company are considered highly speculative due to the nature of the Company’s businesses.

Important factors that could cause actual results to differ materially from the Company’s expectations include, consumer sentiment towards the Company’s products and cannabis generally; risks related to the Company’s ability to maintain its licenses issued by governments in good standing; uncertainty with respect to the Company’s ability to grow, store and sell cannabis; risks related to the costs required to meet the obligations related to regulatory compliance; risks related to the extensive control and regulations inherent in the industry in which the Company operates; risks related to governmental regulations, including those relating to taxes and other levies; risks related an early stage business and a business involving an agricultural product and a regulated consumer product; risks related to building brand awareness in a new industry and market; risks relating to restrictions on sales and marketing activities imposed by governments; risks inherent in the agricultural business; risks relating to energy costs; risks relating to product liability claims, regulatory action and litigation; risks relating to recall or return of products; and risks relating to insurance coverage; global economic climate; equipment and building failures; increase in operating costs; decrease in the price of cannabis; security threats; government regulations; loss of key employees and consultants; additional funding requirements; volatility in the securities of the Company; changes in laws; technology failures; failure to obtain permits and licenses; anticipated and unanticipated costs; competition; risks associated with the substantial obligations of being a public company; and failure of counterparties to perform their contractual obligations. This list is not exhaustive of the factors that may affect the forward-looking statements. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements.

Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to the reader or any person resulting from the use of the information in this news release by the reader or its representatives or for omissions from the information in this news release.

KELOWNA, BRITISH COLUMBIA – February 11, 2020 – Citation Growth Corp. (CSE: CGRO) (OTCQX: CGOTF) (“Citation” or the “Company”), a licensed cannabis cultivator, producer and retailer, today announced that Interim CEO, Rahim Mohamed, has departed the Company for personal reasons, including resigning his Board position. The Board of Directors has named Erik Anderson, a proven business operator and veteran turnaround expert, as President and Chief Executive Officer, effective immediately. Mr. Anderson will also join the Board of Directors.

“We’ve established Citation Growth as a premium cannabis cultivator and producer focused on the U.S. market in Nevada and the Canadian market based out of British Columbia with one retail dispensary operating in California. The Board has determined that for the next phase of the Company’s growth we can benefit from leadership with the skills and experience to generate growth and transform the organization into a premium vertically integrated cannabis player. We’re pleased to have Erik join us to serve as our CEO and to champion our efforts to drive long-term, profitable growth and shareholder value,” said Marcel LeBlanc, Citation Growth Chairman.

Mr. Anderson has more than 25 years of experience operating successful businesses and delivering proven operating and financial performance. His career has included founding and operating a management consulting firm, multiple executive leadership roles in the telecom industry, establishing and eventually divesting a wireless GPS solution provider for major corporations in the energy space, operating and optimizing an oilfield services company during a turnaround phase, and establishing business strategies that included raising funds for multiple early-stage cannabis companies entering public markets. His experience driving growth and efficiencies at these companies, along with his deep knowledge of the cannabis space, will enable the Company to accelerate momentum during this period of transformation.

“I’m a firm believer the U.S. is on a path towards federal adult recreational legalization for cannabis which can provide outstanding growth opportunities to Citation Growth. I am excited to join this organization which operates already in several adult rec markets in the U.S. and which clearly has the technical expertise and proprietary cultivation methods to become a dominant force in both medical and recreational cannabis markets in the U.S. and Canada.”

About Citation Growth Corp.

Citation Growth Corp. (CSE:CGRO) (OTCQX:CGOTF) is a publicly traded company that has been investing in the development of the medical and recreational cannabis space since 2014. Citation has expanded its operating portfolio over time to include cultivation, production and retail offerings in key North American legal jurisdictions such as Nevada, California, Washington and British Columbia. For more information, please visit www.citationgrowth.com.

For Further Information:

Erik Anderson, President and CEO
1-877-438-5448 Ext 1
eanderson@citationgrowth.com

Stock Exchanges:

Citation trades in Canada, under the ticker symbol “CGRO” on the CSE, and in the U.S., under the ticker symbol “CGOTF” on the OTCQX Best Market (the “OTCQX”). The Company also trades on other recognized platforms in Europe including Frankfurt, Stuttgart, Tradegate, L & S, Quotnx, Dusseldorf, Munich, and Berlin.

Neither the CSE nor its Regulation Services Provider, nor the OTCQX has approved nor disapproved the contents of this press release. Neither the CSE, nor the OTCQX accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements:

This news release contains forward-looking statements that relate to our current expectations and views of future events. These statements relate to future events or future performance. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate”, “become”, “objective”, “may”, “will”, “might”, “should”, “could”, “can”, “intend”, “expect”, “believe”, “estimate”, “predict”, “potential”, “plan”, “is designed to”, “project”, “continue”, or similar expressions suggest future outcomes or the negative thereof or similar variations. Forward-looking statements may also include, among other things, statements about the Company’s: future business strategy; operations and growth strategies; expectations of obtaining licenses and permits; expectations regarding expenses, sales and operations; future customer concentration; anticipated cash needs and estimates regarding capital requirements and the need for additional financing; ability to raise future financing; completion of all proposed site phases; the ability to expand into other states; expectations of operational efficiencies; total processing capacity; the ability to anticipate the future needs of customers; plans for future products and enhancements of existing products; future growth strategy and growth rate; future intellectual property; regulatory approvals and other matters; and anticipated trends and challenges in the markets in which the Company may operate.

Such forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: business, economic and capital market conditions; the ability to manage the Company’s operating expenses, which may adversely affect the Company’s financial condition; the Company’s ability to remain competitive; regulatory uncertainties;

market conditions and the demand and pricing for our products; exchange rate fluctuations; security threats; the Company’s relationships with its customers, distributors and business partners; the Company’s ability to attract, retain and motivate qualified personnel; industry competition; the impact of technology changes on the Company’s products and industry; the Company’s ability to successfully maintain and enforce its intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of litigation that could materially and adversely affect our business; the Company’s ability to manage its working capital; and the Company’s dependence on key personnel. The Company is not a positive cash flow company and it may not actually achieve its plans, projections, or expectations (the Company has a history of losses).

Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release.

KELOWNA, BRITISH COLUMBIA – January 14, 2020 – Citation Growth Corp. (CSE: CGRO) (OTCQX: CGOTF) (“Citation” or the “Company”), a licensed cannabis cultivator and producer, announces today that Howard Misle has resigned as Chief Executive Officer and a Board Member effective January 13, 2020. The Board of Directors has already begun interviewing prospective CEO candidates and expects to make an announcement shortly. In the interim, Mr. Rahim Mohamed will be the interim CEO.

The Company is also pleased to announce that it has appointed Mr. Kevin Cornish as its Chief Financial Officer effectively immediately.

Mr. Cornish has roots all over Eastern Canada, spending most of his life in Halifax Nova Scotia where he completed his education at Saint Mary’s University. He has worked in the service, hospitality, construction and cannabis industries over the course of his career. His expertise is focused in leadership, performance management, company growth and finance. He has experience sitting on the boards of both not for profit and for profit companies, volunteered with child development groups and is an advocate for mental health. Mr. Cornish has helped start up and mature companies grow in current and new markets. In 2018 he joined the cannabis industry due to having seen many people he knows positively affected by THC and CBD. Taking part in Canada’s history, Mr. Cornish was part of a Cannabis company that brought recreational Cannabis to Alberta and Canada. Mr. Cornish enjoys the many challenges that come with working in this industry leading up to legalization, post legalization and cannabis 2.0. With over 15 years of leadership experience in operations and finance, Mr. Cornish continues to grow along with this industry both personally and professionally.

Due to this change in management, the company has deemed it necessary to postpone its AGM scheduled for January 24, 2020 in Las Vegas Nevada to allow for an updated Management Information Circular to be filed and circulated to shareholders. Once a new date and location has been scheduled, management will issue out a News Release.

“We, the management and board, apologize for any inconvenience this may have caused any shareholders who may have already booked flights and hotels. We will be diligent and begin placing a new CEO as soon as possible” quoted Rahim Mohamed, President and Interim CEO.

About Citation Growth Corp.

Citation Growth Corp. is a publicly traded company that has been investing in the medical and recreational cannabis space since 2014. Citation has rapidly expanded its operating portfolio to include cultivation, production, and dispensary locations in key North American state-legal jurisdictions and is seeking expansion opportunities worldwide.

For Further Information:

Rahim Mohamed, President
1-877-438-5448 Extension 718
RM@citationgrowth.com

Paul Searle, Corporate Communications
1-877-438-5448 Extension 714
psearle@citationgrowth.com

http://citationgrowth.com

Stock Exchanges:

Citation trades in Canada, under the ticker symbol “CGRO” on the CSE, and in the U.S., under the ticker symbol “CGOTF” on the OTCQX Best Market (the “OTCQX”). The Company also trades on other recognized platforms in Europe including Frankfurt, Stuttgart, Tradegate, L & S, Quotnx, Dusseldorf, Munich, and Berlin.

Neither the CSE nor its Regulation Services Provider, nor the OTCQX has approved nor disapproved the contents of this press release. Neither the CSE, nor the OTCQX accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements:

This news release contains forward-looking statements that relate to our current expectations and views of future events. These statements relate to future events or future performance. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate”, “become”, “objective”, “may”, “will”, “might”, “should”, “could”, “can”, “intend”, “expect”, “believe”, “estimate”, “predict”, “potential”, “plan”, “is designed to”, “project”, “continue”, or similar expressions suggest future outcomes or the negative thereof or similar variations. Forward-looking statements may also include, among other things, statements about the Company’s: future business strategy; operations and growth strategies; expectations of obtaining licenses and permits; expectations regarding expenses, sales and operations; future customer concentration; anticipated cash needs and estimates regarding capital requirements and the need for additional financing; ability to raise future financing; completion of all proposed site phases; the ability to expand into other states; expectations of operational efficiencies; total processing capacity; the ability to anticipate the future needs of customers; plans for future products and enhancements of existing products; future growth strategy and growth rate; future intellectual property; regulatory approvals and other matters; and anticipated trends and challenges in the markets in which the Company may operate.

Such forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: business, economic and capital market conditions; the ability to manage the Company’s operating expenses, which may adversely affect the Company’s financial condition; the Company’s ability to remain competitive; regulatory uncertainties;

market conditions and the demand and pricing for our products; exchange rate fluctuations; security threats; the Company’s relationships with its customers, distributors and business partners; the Company’s ability to attract, retain and motivate qualified personnel; industry competition; the impact of technology changes on the Company’s products and industry; the Company’s ability to successfully maintain and enforce its intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of litigation that could materially and adversely affect our business; the Company’s ability to manage its working capital; and the Company’s dependence on key personnel. The Company is not a positive cash flow company and it may not actually achieve its plans, projections, or expectations (the Company has a history of losses).

Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release.