NDVA Indiva Ltd

Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF), the leading Canadian producer of cannabis edibles, is pleased to announce record market share for the month of December.   Demand for Indiva’s edible products continues to rise as demonstrated by strong sell through data from Hifyre, and from the OCS, for the month of December.

Estimated market share across British Columbia, Alberta, Saskatchewan and Ontario expanded from 36% in November to 42% share of sales in December, as Indiva further increased its lead in the #1 market share position in the edibles category:

• Ontario #1 with 49% market share. Note: OCS data put Indiva market share in the Edibles category at 42.81% for December.
• Alberta #1 with 41% market share.
• British Columbia #1 with 44% market share.
• Saskatchewan #1 with 29% market share.
• Wana™ Sour Gummies led the Gummies category with $2.57 million in retail sales, or 27% market share overall in edibles, a sequential monthly increase of 6%.
• Bhang® continued to top the chocolate category.
• Product ranking in December again showed the top three SKUs continue to be Wana™ Sour Gummies (led by Strawberry-Lemonade 1:1).
• Six of the top 12 edible SKUs are from Indiva.

“We are delighted that customers and clients continue to support Indiva’s core edible brands in market, as evidenced by market share gains at the retail level. The improvement in market share is particularly encouraging given the backdrop of new entrants into the category. Edibles are one of the fastest growing categories in the cannabis market, and Indiva is committed to continuing to leverage the experience and innovation of our licensing partners to bring new edible products to market to support further growth,” said Niel Marotta, President and Chief Executive Officer of Indiva.

COVID-19Government and private entities are still assessing the present and future effects of the COVID-19 pandemic. Indiva has continued to operate with enhanced health and safety protocols in place to protect its employees. The Company continues to assess the customer, supply chain, and staffing implications of COVID-19 and is committed to making continuous adjustments to minimize disruption and impact. Indiva will remain proactive in its response to the pandemic and compliant with any and all provincial and/or federal policy enacted to protect Canadians.

ABOUT INDIVA

Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva creates premium pre-rolls, flower, capsules, and edible products and provides production and manufacturing services to peer entities. In Canada, Indiva produces and distributes the award-winning Bhang® Chocolate, Wana™ Sour Gummies, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, Artisan Batch, and other Powered by INDIVA™ products through license agreements and partnerships. Click here to connect with Indiva on LinkedIn, Instagram, Twitter and Facebook, and here to find more information on the Company and its products.

CONTACTSINVESTOR CONTACTAnthony SimonePhone: 416-881-5154Email: ir@indiva.com

DISCLAIMER AND READER ADVISORY

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's future operations, future product offerings and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to maintain the necessary regulatory and other third parties’ approvals and licensing and other risks associated with regulated entities in the cannabis industry. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.