The Pure-Play* Pot Stock Portfolio of the 25 pure-play cannabis stocks that trade for more than US$1/share declined 2.1% on Thursday. 19 of the constituents declined as did 2 of the 4 categories. Details are as follows:

Thursday's Portfolio Performance

• 4 stocks went UP on the day but only one, Greenlane (GNLN), did so by more than 5% (i.e. 5.5%)
• 19 stocks went DOWN on the day (2 had No Change in price) but only 3 did so by 5% or more, namely:
  1. Valens (VLNCF) -8.8%
  2. cbdMD (YCBD) -8.3%
  3. Aphria (APHA) -5.0%

The 25 munKNEE Pure-Play* Pot Stock Portfolio includes companies doing business in 4 categories based on their primary area of focus in the cannabis industry. The categories are identified below with how they performed given the performance of the stocks in the portfolio that make up each category:

1. The Vertically Integrated (i.e. Seed-to-Sale) Category has 21 portfolio participants that grow, process, and sell cannabis and hemp flower and related products and it was DOWN 2.2% on top of a 5.6% decline on Wednesday.
   • the 7 Canadian Licensed Producer (LPs) portfolio participants  (ACB; CGC; CRON; OGI; ROMJF and TLRY) went DOWN 1.1%, on average.
   • the 12 cannabis U.S. Multi-State Operator (MSOs) portfolio   participants (ACRGF; AYRSF; CCHWF; CRLBF; CURLF; GTBIF;   HRVSF; JUSHF; PLNHF; SHWZ; TCNNF and TRSSF) went  DOWN   2.5%, on average.
   • the 2 hemp seed-to-sale MSO portfolio participants (CWBHF  and YCBD) went DOWN 6.2%, on average, on top of a 4.9% decline on Wednesday; a 1.0% decline on Tuesday and a 6.3% decline on Monday.
2. The Extraction Category has 2 portfolio participants (NEPT and VLNCF) focused on the extraction of cannabis compounds and their infusion into consumer products and they went DOWN 2.9%, on average, on top of a 7.0% decline on Wednesday; a 2.1% decline on Tuesday and a 3.6% decline on Monday.
3. The Consumption Devices Category has only 1 portfolio participant  (GNLN) focused on developing and selling personal consumption devices for cannabis consumers such as vape pens and inhalers and it went UP 5.5%.
4. The Biotechnology Category has only 1 portfolio participant (AVCNF) which markets new drugs utilizing cannabinoids (CBD) and it had No Change in price after having gone DOWN 3.8% on Wednesday, DOWN  3.6% on Tuesday and DOWN 7.8% on Monday.

*Please note: The 25 pure-play stocks in the munKNEE Pure-Play Pot Stock Portfolio are just that, pure, deriving 100% of their revenue from the sale of recreational and medicinal cannabis and consumption-related products and, as such, it reflects the true health of the marijuana industry in the U.S. and Canada.