ADASTRA HOLDINGS ANNOUNCES CHANGE OF AUDITOR

LANGLEY, BC, December 15, 2023 – Adastra Holdings Ltd. (CSE: XTRX) (FRA: D2EP) (“Adastra” or the “Company”), a leading cannabis processor and producer of the two top Canadian concentrates brands, with a focus on product innovation and commercialization for adult-use and medical markets, announces that it has changed its auditor from Davidson & Company LLP (the “Former Auditor”) to MNP LLP (the “Successor Auditor”). The Company decided to change its auditor effective December 7, 2023 and the board of directors of the Company (the “Board”) appointed the Successor Auditor on December 7, 2023, until the close of the next annual meeting of the shareholders of the Company or until its successor is appointed.

The Board and audit committee of the Company (the “Audit Committee”) each approved the resignation of the Former Auditor and the appointment of the Successor Auditor in place of the Former Auditor. There were no reservations or modified opinions in the Former Auditor’s audit reports for any financial period during which the Former Auditor was the Company’s auditor and there are no “reportable events” (as defined in National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”)) between the Company and the Former Auditor. The Notice of Change of Auditor was approved by the Board.

In accordance with NI 51-102, the Notice of Change of Auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been reviewed by the Audit Committee and Board and have been filed on SEDAR.

About Adastra Holdings Ltd.
Adastra has become one of Canada’s leaders in the supply and manufacturing of ethnobotanical and cannabis products for lawful adult-use. It serves medical markets and engages in forward-looking therapeutic applications. With cannabis concentrate products sold through retailers at more than 2,000 locations across Canada, Adastra’s Phyto Extractions and Endgame Extracts brands are now well established with a solid distribution presence. As a Health Canada licensed facility, it specializes in extraction, distillation and manufacturing of a range of cannabis-derived products. Adastra partners with healthcare professionals and practitioners within the regulated environment to create products suitable for the medical cannabis market, with the ultimate aim of addressing the needs of patients. For more information, visit: www.adastraholdings.ca.

Contacts
Michael Forbes, CEO, Corporate Secretary & Director
(778) 715-5011
michael@adastraholdings.ca