Ottawa, Canada – November 28, 2017 – CannaRoyalty Corp. (CSE: CRZ) (OTCQX: CNNRF) (“CannaRoyalty” or the “Company”) today announced the Company’s financial results for the three and nine-month periods ended September 30, 2017. All figures are reported in Canadian dollars ($), unless otherwise indicated. CannaRoyalty’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).

“Q3 was a transitional period for our business as we focused on ramping up production of CR Brands products in California through River’s distribution network,” said Marc Lustig, CEO of CannaRoyalty. “Through our investees and wholly-owned subsidiaries, we now have a presence in seven key legal North American cannabis markets with specific exposure to value-added downstream segments including manufacturing, distribution, product development, technology, marketing and brands. The experience our team has gained over the past three years in most major North American markets has led us to phase two of our journey and to California.”

Marc added, “This morning, we announced the signing of binding term sheets to acquire two leading California cannabis companies that generated approximately C$12 million* in consolidated revenue to the end of October 2017. These acquisitions are transformative for CannaRoyalty, and will provide the Company with foundational assets to execute on our California expansion strategy. Our plan over the next twelve months is to leverage our current asset base, expertise and portfolio of brands to build a leading downstream cannabis consumer products business and generate revenue growth, with a focus on California. We have outlined this strategy in a shareholder letter below and in our MD&A.”

Recent Developments

For a comprehensive overview of CannaRoyalty’s top holdings, please refer to the Company’s Management’s Discussion and Analysis of the Financial Condition and Results of Operations for the Three and Nine Months Ended September 30, 2017.

The Company recently launched its Soul Sugar Kitchen edibles products, which experienced rapid retail penetration in the initial launch and distribution period. Shortly after, the Company completed the first commercial production of its GreenRock Botanicals (“GRB”) vape pens. The Company will continue ramping up production of these products, as well as other products within its existing and growing CR Brands portfolio.

CR Brands is currently retrofitting its new Santa Rosa facility (the “Facility”) to produce the growing suite of CR Brands products for the California market. The Facility is located in a commercial complex with several tenants that have been licensed for cannabis production and distribution by the city of Santa Rosa, and the Company is in the process of applying for its own processing license. The Facility has significant capacity to accommodate growth in the CR Brands portfolio, and for the manufacture of additional products.

The Company executed a letter of intent to launch its CR Brands into the Nevada market, with a focus on Las Vegas. This was accomplished through a CR Advisory engagement with Æther Gardens that focuses on the production and launch of CR Brands products in the Nevada market. Æther Gardens is a vertically-integrated cannabis cultivator, extractor, and manufacturer based in Clark County, Nevada.

The Company’s investee, Resolve Digital Health, signed major exclusive product deals with Aphria Inc., one of Canada’s largest legal cannabis producers, and with Liberty Health Sciences Inc., an operator and investor in the medical cannabis market in Florida.

The Company’s investee, AltMed, was recently awarded an authorization to commence medical cannabis cultivation in Florida. There are only 12 other Medical Marijuana Treatment Center (MMTC) licensees in Florida, placing AltMed Florida in a uniquely competitive position, in a growing market that now has over 51,000 registered patients. Additionally, AltMed also opened its first Arizona dispensary during Q3, which has been ramping up its distribution and sales efforts.

On November 9, the Company announced that Mr. R. Wilkinson, the principal of Rich Extracts, was arrested in Nebraska for possession of marijuana with intent to distribute. The possession and distribution of marijuana are illegal in Nebraska. This development has accelerated the Company’s efforts to enforce on its security interest in Rich Extracts and remove Mr. Wilkinson from the Rich Extracts extraction business.

On November 23, 2017, the Company received its first draw of $3,000,000 from the Sprott Credit Facility and intends to use the funds for general corporate purposes.

* Last twelve months’ (“LTM”) revenues to October 31st, 2017, based on unaudited financial statements. This figure represents a consolidation of the LTM revenues for Kaya and Alta. Converted at 1.2735 USD/CAD based on November 27, 2017 Bank of Canada noon rate.