Molecule Holdings Inc. (CNSX:MLCL) has entered into a non-binding letter of intent to acquire Canna-Day Development Inc. from the shareholders of Canna-Day for CAD 0.75 million on September 28, 2022. which shall be satisfied by the issuance of an aggregate of 15,000,000 common shares in the capital of the Company at a deemed price of $0.05 per Common Share. Half of the Common Shares issued as consideration in the Acquisition shall be subject to a one (1) year escrow period.

Concurrently with the Acquisition, the Company is proposing to complete a non-brokered private placement. Completion of the Acquisition is subject to certain conditions being satisfied including, but not limited to: (i) satisfactory completion of due diligence of each party; (ii) Canna-Day having no liabilities, other than certain transaction costs; (iii) the completion of the Financing (as defined below); (iv) receipt of all necessary regulatory and third-party consents, approvals and authorizations as may be required in respect of the Acquisition and the Financing, including without limitation, the approval of the Canadian Securities Exchange (the ?CSE?), if applicable, any approvals required by Health Canada, and any approvals required under the existing outstanding debt documentation of the Company, all such consents, acceptances and approvals to be on terms and conditions acceptable to the Company; (v) approval of the board of directors of the Company (the ?Board?) to the final terms and conditions of the Acquisition as set forth in the definitive agreement with respect to the Acquisition; and (vi) certain other conditions that are customary for transactions of this nature.