Xebra Announces Corporate Update and Correction Notice of Press Release Announcing Grant of Management Cease Trade Order

VANCOUVER, BC / ACCESS Newswire / June 23, 2025 / Xebra Brands Ltd. (CSE:XBRA) (the "Company" or "Xebra Brands") announces a correction to the Company's press release dated June 23, 2025 announcing the grant of a management cease trade order by the British Columbia Securities Commission.

The press release issued earlier today erroneously stated a management cease trade order had been granted by the British Columbia Securities Commission. Xebra wishes to advise that it has applied for but has not been granted at this time a management cease trade order for its audited annual financial statements, management's discussion and analysis and related officer certifications for the fiscal year ended February 28, 2025 due on or before the filing deadline of June 30, 2025. Xebra will provide further updates if and when the management cease trade order is granted.

The Company also wishes to announce that Omar Garcia and Keith Dolo have resigned as the Chief Financial Officer and a director of the Company, respectively. Mr. Garcia and Mr. Dolo have resigned to pursue other business interests. The board and management team of the Company would like to sincerely thank Mr. Garcia and Mr. Dolo for their contributions to the Company and wish them success in their future endeavours. Rodrigo Gallardo, the Company's Chief Executive Officer, will act as interim Chief Financial Officer until the Company finds a suitable replacement for Mr. Garcia.

The Company also announces that, it is extending the expiry date of an aggregate of 13,311,731 outstanding warrants (the "2023 Warrants"). The exercise price of the 2023 Warrants is $0.10. Initially set to expire on September 6, 2024, the original expiration date was previously extended to December 31, 2024 and further extended until June 30, 2025. The Company has decided to further extend the expiration date of the 2023 Warrants to December 31, 2025. All other terms and conditions of the 2023 Warrants remain unchanged.

About Xebra Brands Ltd.

Xebra Brands is an international cannabis cultivation and product company, with global brands and intellectual property. Our focus includes beverages, wellness and leisure. Xebra Brands is an absolute first mover in the Mexican cannabis sector with the first ever granted authorization to a corporation by the COFEPRIS. In Canada, Xebra Brands retails its unique Vicious Citrus THC/CBN Lemonades.