Cannabis Wheaton Announces Closing of $50.2 Million Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 29, 2017) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION TO UNITED STATES

Cannabis Wheaton Income Corp. (TSX VENTURE:CBW) ("Cannabis Wheaton" or the "Company") is pleased to announce the closing of its previously disclosed private placement of special warrants and convertible debenture units (the "Offering") for aggregate gross proceeds of $50,252,203. The Company raised $30,000,000 through the issuance of 30,000 convertible debenture units at a price of $1,000 per convertible debenture unit and $20,252,203 through the issuance of 20,252,203 special warrants at price of $1.00 per special warrant. The net proceeds of the Offering will be used primarily to finance the Company's streaming partners and for general corporate and working capital purposes.

Mackie Research Capital Corporation acted as lead agent and sole bookrunner in the Offering and received a cash commission of $3,419,549 together with 3,419,549 broker warrants. The terms of the Offering are further described in the Company's news release dated June 6, 2017.

All securities issued in the Offering are subject to a statutory four month hold period, subject to the earlier filing of a (final) short form prospectus with the relevant Canadian securities qualifying such securities for resale, as applicable. There is no assurance that a qualifying prospectus will be filed or that a receipt therefor will be obtained prior to the expiry of the statutory four month hold period. The Offering remains subject to customary post-closing filings with the TSX Venture Exchange. A second tranche of the Offering is expected to close in July 2017.

ON BEHALF OF THE BOARD

"Chuck Rifici"

Chairman & CEO

About Cannabis Wheaton Income Corp. (TSX.V: CBW)

Backed by a team of industry experts, Cannabis Wheaton is the first cannabis streaming company in the world. Our streams will include production from across Canada coming from our partners comprised of licensed producers of cannabis (LP) and LP applicants. Cannabis Wheaton's mandate is to facilitate real growth for our streaming partners by providing them with financial support and sharing our collective industry experience.

Stay Connected

For more information about Cannabis Wheaton and our management team, please visit: http://www.cannabiswheaton.com, or follow us on Twitter @CannabisWheaton.

Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: the Company's ability to complete a second tranche financing, delays in obtaining or inability to obtain required government or other regulatory approvals, the ability to generate revenue through the streaming agreements, requirements to obtain additional financing, timeliness of government approvals for granting of permits and licences, including licences to cultivate cannabis, completion of the facilities, where applicable, actual operating performance of the facilities, regulatory or political change, competition and other risks affecting the Company in particular and the medical cannabis industry generally. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.