Bluma Wellness Inc. (the 'Company' or 'Bluma Wellness') (CSE: BWEL.U) is pleased to announce that its wholly-owned operating subsidiary, One Plant Florida, has received approval from the city of Tallahassee for its planned retail dispensary location in Tallhassee, Florida.

The Company intends to open One Plant Florida's Tallahassee retail dispensary location at or around the first quarter of 2021, subject to the receipt of all required regulatory approvals from the City of Tallahassee and the Florida Office of Medical Marijuana Use ('OMMU').

The site of One Plant Florida's planned Tallhassee location is at the corner of Tennesee and Monroe Streets in downtown Tallahassee, allowing the Company to serve qualified patients in Tallahassee and throughout Leon County. The site's central location will also enable One Plant Florida to expand and optimize its delivery and curbside pickup network for qualified patients living in Tallahassee, as well as in Quincy, Panama City, Pensacola, and other areas in Northwest Florida. 'As myself, our President and our Chief Legal Officer are all graduates of Florida State University, we are very proud that our company has received the City's approval for this location,' said Bluma Wellness CEO Brady Cobb. 'We look forward to a long partnership with the community and its patients.' In addition to the planned opening of its retail dispensary in Tallahassee, Bluma Wellness intends to open five (5) additional One Plant Florida retail locations and/or delivery hubs in Ocala, Avon Park, Orlando (Fern Park), North Miami, and Bonita Springs by the end of 2020, pending receipt of all required regulatory approvals from the Florida OMMU.

About Bluma Wellness Inc.

Bluma Wellness Inc. owns and operates a vertically-integrated, licensed medical cannabis company in the State of Florida doing business as 'One Plant Florida.' One Plant Florida cultivates, processes, dispenses and retails medical cannabis to qualified patients in the State of Florida through multiple retail dispensaries and an innovative next-day door-to-door e-commerce home delivery service, thereby offering convenient access for its customers and meeting the demands of an evolving retail landscape. Bluma Wellness plans to continue expanding its cultivation and distribution operations as the Florida market grows and may enter into other US states where the production, distribution and use of cannabis is permitted under state law.

Forward-Looking Information

This news release contains 'forward-looking information' within the meaning of applicable Canadian securities laws including information relating to the opening of One Plant Florida's Ocala, Florida retail dispensary and delivery hub, the planned opening of additional retail dispensaries and delivery hubs in Florida and the expansion of One Plant Florida's home delivery and curbside pickup network, the expected increased production of medical cannabis from the Indiantown facility, the integration of the Alleaves platform and the Company's strategic business plans. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements due to a variety of known and unknown risks and uncertainties including, without limitation: risks relating to cannabis being illegal under US federal law and risks of US federal enforcement actions related to cannabis activities; the Company's ability to comply with all applicable governmental regulations in a highly regulated business; negative changes in the political environment or in the regulation of medical cannabis in the state of Florida; the risk of any disruptions to the Company's business and operations as a result of the COVID-19 pandemic; negative shifts in public opinion and perception of the cannabis industry and cannabis consumption; increasing competition in the industry; risks of product liability and other safety-related liability as a result of usage of the Company's cannabis products; the Company's limited operating history with no assurance of profitability; the ability of the Company to access future financing if needed or on terms acceptable to the Company; the risk of defaulting on its existing debt; risk of shortages of or price increases in key inputs, suppliers and skilled labor; the risks inherent in running agricultural operations such as pests and crop failure; loss of licenses; reliance on key personnel; cybersecurity risks; constraints on marketing products; fraudulent activity by employees, contractors and consultants; tax and insurance related risks and risk of litigation. The forward-looking information in this press release are made as of the date of this release. The Company does not undertake any obligation to update forward-looking information except as required by applicable securities laws.

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