Cannara Biotech Inc. announced a buying group which includes Javaa Private Equity Inc. ("Javaa") has collectively acquired a total of 85,003,250 common shares from FSD/FV Pharma Inc., the majority of which remain in escrow, stemming from Cannara's go-public transaction a year ago. This $7.7 million transaction ensures a smooth transition of approximately 12% of Cannara's issued and outstanding common shares. Post transaction, FSD/FV Pharma holds no remaining interest in Cannara and Dr. Sara May, the President of FV Pharma Inc. will step down from the Company's Board of Directors. The Company is evaluating alternative independent directors and will fill the vacancy in a timely fashion.