15. SUBSEQUENT EVENTS

On April 21, 2026, the Company's Board of Directors authorized an increase in its most recent share repurchase program such that the Company may purchase Subordinate Voting Shares at an aggregate cost of up to $150,000 thousand. In addition, on that same date, the Company entered into a securities purchase agreement to purchase 7,393,787 Subordinate voting shares at a price of $6.00 per share.

On April 23, 2026, the U.S. Department of Justice (“DOJ”) issued a Final Order (the “Order”) immediately placing both Food and Drug Administration (“FDA”) approved marijuana products and state-regulated medical marijuana products in Schedule III of the Controlled Substances Act (“CSA”). The Order establishes a bifurcated framework by immediately rescheduling the following into Schedule III: (1) FDA-approved drug products containing marijuana, and (2) marijuana subject to a qualifying state medical marijuana license. All other marijuana, including unlicensed bulk marijuana and marijuana operated under adult-use state programs, remains in Schedule I of the CSA. Simultaneously, the DOJ initiated an expedited administrative hearing process to consider broader rescheduling of marijuana, which will commence on June 29, 2026 and complete on July 15, 2026.

As a result, holders of state medical marijuana licenses will no longer be subject to section 280E of the IRC. The Company is evaluating the impact here while awaiting further guidance from the IRS.