SOL Global Provides Corporate Update on One Plant Florida Operations, Verano Decision to Terminate Harvest Business Combination

One Plant Florida Sales Continue Growth Amid Covid-19 Pandemic

TORONTO, March 31, 2020 /PRNewswire/ – SOL Global Investments Corp. (“SOL Global” or the “Company”) (CSE: SOL) (OTCPK: SOLCF) (Frankfurt: 9SB) today provides an operational and corporate update regarding the Company’s investment portfolio and assets.

Termination of the Verano-Harvest Business Combination Agreement SOL Global today provides an update on the previously-announced termination of the business combination agreement (the “Business Combination Agreement”) dated April 22, 2019 between Verano Holdings, LLC (“Verano”), a SOL Global portfolio company, and Harvest Health & Recreation, Inc. (“Harvest”).

As noted in Harvest’s news release dated March 26, 2020: “Prolonged obstacles in meeting requirements for state and local regulatory authorities needed to transfer ownership and operational licenses, adverse capital market conditions, [and] a challenging environment for asset sales all contributed significantly to the decision not to move forward with the pending acquisition. No breakup fees or other considerations are owed by either party as a result of the termination of the BCA.”

SOL Global remains a proud shareholder of Verano and looks forward to seeing Verano continue to expand its MSO operations in the United States. Verano has efficiently and effectively scaled up its operations in several key cannabis markets in the U.S., including Illinois, New Jersey and
Nevada (either directly or via affiliates/subsidiaries), and is well positioned to continue to generate impressive quarter over quarter growth.