Vencanna Ventures Summarizes Financials as of October 31, 2025

Calgary, Alberta — December 30, 2025 — Leads & Copy — Vencanna Ventures (CSE:VENI) released a summary of its financial results as of Oct. 31, 2025.

The financial information should be reviewed alongside the company's financial statements and management's discussion and analysis for the three and six months ending Oct. 31, 2025, available on SEDAR+ at www.sedarplus.ca. All figures are in U.S. dollars unless otherwise stated.

Vencanna acquired The Cannavative Group in an all-share transaction on April 30, 2024, shifting the company's focus to include U.S.-based cannabis operations.

An executive order signed on Dec. 18, 2025, by President Trump directs U.S. Attorney General Pam Bondi to expedite rescheduling cannabis from a Schedule I to a Schedule III drug. While this does not legalize cannabis production and sales, it would eliminate IRC 280E, reducing the tax burden and increasing cash flow for state-compliant cannabis businesses.

The order directs the AG to complete the “rulemaking process” expeditiously. Despite support for rescheduling and research supporting cannabis' medical benefits and lower abuse risk, the timing of cannabis reform, including the SAFE Banking Act, faces regulatory hurdles, politics, potential lawsuits, and logistical challenges.

Vencanna derives most of its income from the cannabis industry in certain U.S. states, which remains illegal under federal law. The company is unaware of any non-compliance by itself, its investees, or The Cannavative Group with applicable state laws.

In Nevada, Vencanna is focusing on operating efficiencies and cost management as tourism and cannabis sales have declined in 2025. For the nine months ending Oct. 31, 2025, tourism is down 8% year-over-year, and cannabis sales reached $609.3 million, an 11% decrease from the previous year, according to the State of Nevada Department of Taxation. Cannavative has onboarded a dedicated sales representative in Las Vegas to address Nevada’s competitive environment.

Subsequent to the quarter's end, on Nov. 27, 2025, Vencanna announced a definitive sale agreement with an arm’s length purchaser to sell its 95% membership interest in Vencanna NJ for $1,250,000, plus cash reimbursement of approximately $135,000, and an earnout of up to $250,000. Vencanna NJ is obtaining its Class 5 Retail license to operate out of the Bellmawr site. The transaction is expected to close in the first half of 2026, subject to customary closing conditions.

As of Oct. 3, 2025, TGC New Jersey LLC exited its lease in Cinnaminson NJ, and Vencanna has been released from its guarantee of the lease at no further cost. With the sale of Vencanna NJ and exiting the Cinnaminson lease, Vencanna will have fully exited its New Jersey operations due to capital challenges in the state's cannabis industry. The company decided to monetize its interests, relieving itself of obligations and future expenditures.

Financial Highlights for Fiscal 2026 Q2 to 2026 Q1:

• Revenues decreased 26% to $414k from $560k.
• Cost of sales decreased 36% to $520k from $812k due to cost-saving measures and declining sales.
• Gross profit improved 58% to negative $106k from negative $252k.

Financial results for the three months ended October 31, 2025, and October 31, 2024:

The Company recorded a comprehensive loss of $399,528, $0.00 per common share for the three months ended October 31, 2025 as compared to a loss of $969,797, $0.00 per share for the three months ended October 31, 2024.

Interest expenses related to leases was $62,665 (2024 - $117,417). Professional fees decreased to $126,760 (2024 - $272,078).

Other income and (expenses) increased to $82,066 (2024 - $10,353) due to the gain upon termination of one of the leases during the quarter which was slightly offset on the loss on the write-off of leasehold improvements related to the property in the lease terminated.

The net loss for the period was $382,992 (2024 - $756,848). The Company had a comprehensive loss of $399,528 (2024 - $969,797).

On October 31, 2025, 12,330,554 warrants expired. As of date hereof, the Company’s outstanding securities consists of 222,644,952 common shares, 55,974,604 exchangeable shares (“Exchangeable Shares”), no warrants and no options. The Exchangeable Shares, issued under the acquisition of Cannavative, are exchangeable on a one-for-one basis into an equal number of common shares of the Company.

Vencanna Ventures Inc. completed a recapitalization financing, appointed a new management team and board of directors, and commenced trading on the CSE as an investment issuer on Sept. 24, 2018. Vencanna acquired Cannavative, a cultivation and extraction company in Nevada, on April 30, 2024.

Vencanna is dedicated to offering investors a diversified, high-growth cannabis investment strategy, focusing on the United States.

For further information regarding this news release, please contact:

Vencanna Ventures Inc.
David McGorman
Chief Executive Officer and Director
info@vencanna.com

Source: Vencanna Ventures