Zoned Properties Adds Green Dot Labs to its Tenant Roster as Leading Cannabis Brand Expands Into Arizona

• The Company has Approved a Lease Amendment and Assignment at its Tempe Property
• The Company has Secured a Tenant Capital Commitment of $3 Million to be Invested in Property Improvements

SCOTTSDALE, AZ / ACCESSWIRE / December 2, 2022 / Zoned Properties®, Inc. ("Zoned Properties" or the "Company") (OTCQB:ZDPY), a leading real estate development firm for emerging and highly regulated industries, including legalized cannabis, today announced that the Company has approved a Lease Amendment and Assignment at its Tempe Property granting operational control to Green Dot Labs as the property's new tenant.

"We are extremely excited to welcome Green Dot Labs into the Arizona marketplace as the new primary tenant at our property in Tempe, Arizona," commented Bryan McLaren, Chief Executive Officer of Zoned Properties. "We have known the team at Green Dot Labs for many years and have watched them thrive in the emerging cannabis marketplace, consistently providing consumers with best-in-class products, services, and brands. Zoned Properties is proud to include a company of Green Dot Lab's caliber in our tenant roster."

"After spending ten years growing market-leading positions in Colorado's highest value cannabis categories-including Concentrates, Vape, and Flower-Green Dot Labs is excited to expand its reach to our first new market," said Green Dot Labs CEO and Co-Founder Alana Malone. "We are pleased to be aligned with Zoned Properties as we join the Arizona cannabis community."

Management Discussion and Project Highlights

• Founded in 2014 by husband-and-wife team Dave and Alana Malone, Green Dot Labs is Colorado's premier cannabis cultivation and extraction brand, the first and longest-running regulated business anywhere to focus exclusively on cannabis extracts and the best-selling premium cannabis brand in the state.
• Green Dot Labs will locate its flagship Arizona operations at the Company's Tempe Property.
• The Company has approved the Lease Amendment and Assignment in exchange for a one-time payment of $300,000 to Zoned Properties as consideration of the approval.
• As additional consideration for the Company's approval, Green Dot Labs as the new tenant has contractually committed to investing at least $3 Million towards property improvements.
• Hana Meds to continue certain operations at the Tempe Property in coordination and collaboration with Green Dot Labs.

About Zoned Properties, Inc. (OTCQB:ZDPY):