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CANNTAB ANNOUNCES CHANGE OF AUDITOR

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TORONTO, May 30, 2022 /CNW/ - Canntab Therapeutics Limited (CSE: PILL) (OTCQB: CTABF) (FRA: TBF1) (the "Company" or "Canntab") a leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic applications, announces that that it has changed its auditor from MNP LLP (the "Former Auditor") to Clearhouse LLP (the "Successor Auditor"). The Former Auditor resigned effective May 27, 2022, at the Company's request, and the Company's board of directors appointed the Successor Auditor to fill the resulting vacancy until the close of the next annual meeting of the Company's shareholders.

Canntab Therapeutics Limited Logo (CNW Group/Canntab Therapeutics Limited)
Canntab Therapeutics Limited Logo (CNW Group/Canntab Therapeutics Limited)

The change of auditor notice required under National Instrument 51-102 – Continuous Disclosure Obligations ("NI 51-102") and associated material will be filed on SEDAR under the Company's profile within the prescribed time period. There were no reservations or modified opinions in any auditor's reports nor any reportable events as defined in NI 51-102 in connection with the audits by the Former Auditor of the Company's most recently completed financial year or any subsequent period.

About Canntab Therapeutics Limited

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

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

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

Cautionary Note Regarding Forward Looking Statements

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. The forward-looking information and forward- looking statements contained herein.

Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's ability to continue as a going concern; the continued commercial viability, adoption and growth in popularity of the Company's products; continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; the Company continuing to develop products; continued growth of the Company; the Company hitting its future plans and goals; and the Company will continue and be successful in establishing additional affiliate programs.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; risks associated with potential governmental and/or regulatory action with respect to the Company's operations; competition within the industry; risks that the Company will be unable to execute its plans and/or meet its goals; risk that the Company will not grow as anticipated; risks that consumers will not purchase its products; risk that the Company will not meet its anticipated timelines; and risk that the Company will be unable to establish or reap benefits from additional affiliate programs.

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

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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SOURCE Canntab Therapeutics Limited

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View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2022/30/c5875.html

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