Presentations - Inaugural Conference with Financial Institutions

CORRESPONDENT BANKING & DERISKING

• BIGGEST CHALLENGE WAS DETERMINING WHO WOULD OFFER BOSVG CORRESPONDENT BANKING TO FACILITATE THE INDUSTRY

• ONGOING RISKS ASSOCIATED WITH USA BANKS WHO MAY WANT TO DERISK BECAUSE MEDICAL CANNABIS IS ILLEGAL AT THE FEDERAL LEVEL

• SHARED OUR POLICY & FRAMEWORK WITH ALL OUR CORRESPONDENT BANKS TO PROVIDE SOME LEVEL OF COMFORT TO THEM

• CANADIAN COUNTERPART WAS PLEASED WITH OUR DIRECTION AND THE CONTENTS OF OUR POLICY AND FRAMEWORK, INDICATED THEY WOULD OFFER US BANKING SERVICE IN CANADIAN DOLLARS ONLY

• CONSTANT ENGAGEMENT OF OTHER KEY REGULATORS INCLUDING THE MEDICINAL CANNABIS AUTHORITY, GOVERNMENT OF SVG, AND OTHER GOVERNMENT REGULATORS INCLUDING THE FINANCIAL SERVICES AUTHORITY

• ENGAGED OUR REGULATOR AND RECEIVED A COMMITMENT AND AN UNDERSTANDING FROM THEM REGARDING OUR BANKING MEDICAL CANNABIS