Xebra Brands Ltd. announced a business transformation plan that will shift the Company's resources away from Canadian cannabis beverages to focus on the development and commercialization of the authorizations to manufacture cannabis products in Mexico. As part of the implementation of the Business Transformation Plan, newly appointed board member David Ross Macias Diaz has committed to an investment into the Company. Business Transformation Plan includes: Transforming the business strategy into a Mexico first model focused on generating revenues via the cannabis authorizations granted to Xebra in 2023 through partnership opportunities, listing of own products and possible M&A transactions of companies within Mexico; Scaling down the capital-intensive operations of the Company's Canadian Cannabis Beverages business; Appointing Rodrigo Gallardo as Interim-CEO to implement the Business Transformation Plan; Streamlining current corporate and operational staff to minimize cash expenditures; Realignment of current board seats from with eight (8) members to four (4) members; Revised Business Strategy.

Under the Business Transformation Plan, the Company's core focus will be on commercializing the authorizations granted to Xebra an outright first-mover-advantage in Mexico, allowing Xebra and its partners to import and acquire cannabis seeds, cultivate and harvest cannabis, process and produce cannabis, and sell cannabis products both domestically and through export.