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PRIVATE AND CONFIDENTIAL

CannaIncome FundCorporate PresentationQ4 2018

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DisclaimerFORWARD-LOOKING INFORMATIONThis presentation contains "forward-looking information" within the meaning of applicable securities legislation.Forward-looking information is disclosure regarding possible events, conditions or financial performance that isbased on assumptions about future economic conditions and courses of action. This forward-looking informationis based on current expectations, estimates and assumptions concerning future events and is subject to a numberof uncertainties and factors, many of which are outside the fund’s control, which could cause actual results todiffer materially from those described in the forward-looking information.

No assurance can be given that any of the events anticipated by the forward-looking information will transpire oroccur or, if any of them do so, what benefits will be derived therefrom. Investors, potential investors, financinginstitutions and other readers are urged to consider these factors carefully in evaluating the forward-lookinginformation which speak only as of the date made. Except as may be required by law, the fund expressly disclaimsany intention or obligation to revise or update any forward-looking information and information whether as aresult of new information, future events or otherwise.

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OUR APPROACHInvestment Vehicles

Leverage our collective industry, private equity and capitalmarkets experience to find early-stage pre-IPO cannabiscompanies in Canada, US, or globally, with a niche productand/or a sustainable competitive advantage.

CannaIncome Fund Corporation (“CIF”) is a privateinvestment company, which provides yield and capitalappreciation upside, via valuation arbitrage opportunitiesprimarily between private and public markets.

Our goal is to work with, and advise, companies to findcapital solutions which expedite their path to positive cashflow. Although not a requisite for all investments, our biasis to find instruments where we rank higher in the capitalstructure with distributions that occur before taxes(reducing taxable events for companies).

Investment Instruments:• Gross over-riding royalties

• Convertible debentures

• Secured debt

• Mezzanine / bridge financing

• Preferred shares

• Common equity

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TermsPrivate Placement OfferingIssuer: CannaIncome Fund CorporationOffering: Common SharesPrice: $0.50 per Common ShareTarget Amount: Up to $50,000,000Liquidity Target: Q1 2019Target Annual Dividend Yield: 6%Distribution: QuarterlyManagement Fee: 2%Performance Fee: 20% (8% hurdle rate)Timing: Q4 2018Targeted Fund Return: 25% Gross IRR

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Arthur H. Kwan, MBA, CFA, ICD.DPresident and Chief Executive OfficerArthur began his investment career in 1997 with TD Asset Management and has over 18years of investment banking, capital markets, and private equity experience. He has heldincreasingly senior investment banking positions with Scotia Capital, PI Financial, andParadigm Capital, where he was Managing Director, Investment Banking. Arthur has beeninvolved in several early stage cannabis companies as an investor, advisor, and financier.

Michael A. ZukVice President, InvestmentsMichael was formerly an Equity Research Analyst for Stifel Nicolaus, a full service USbrokerage and investment banking firm. He brings over 12 years of equity researchexperience at large US and Canadian banks, as well as executive officer roles within publiclytraded companies, leveraging corporate development and capital markets experience. Hehas been a successful early investor in the cannabis sector.

Jeremy RossVice President, Business DevelopmentJeremy has over 20 years of experience in venture capital and marketing for small- to mid-cap cannabis, mining, and technology companies. He was a Director of Fission Uranium(TSX:FCU) from 2013 to 2017, during which it was named a Top 50 TSX-V company for itsperformance. He holds multiple board positions with TSX, TSX-V, and CSE listed companies,including SpeakEasy Cannabis Club.

The Portfolio Management Team

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William (Bill) FlemingChief Executive Officer – Mernova Medicinal / Creso Pharma (ASX:CPH)Bill is the Founder of Mernova Medicinal, an Aboriginal owned company focused onbecoming a producer of legal marijuana; it was recently acquired by Creso Pharma(ASX:CPH). Previously, he was formerly the CEO of Abattis Bioceuticals (CSE:ATT), a leadingdiversified cannabis company, with interests in growing, extraction, and retail distribution.Mr. Fleming also has provided advisory services to Health Canada.

Marc GeenChief Executive Officer – SpeakEasy Cannabis Club (CSE:EASY)Marc has been active in the legal medical marijuana industry for more than 10 years,consulting, complying with and participating in the MMAR, MMPR and ACMPR programs.Prior to co-founding Speakeasy Cannabis Club, Marc’s family founded Sun-Rype Products,and is a proud 4th generation BC farmer. Marc has also co-created a full line of cannabisextract products designed under ACMPR regulations.

Board of Advisors

Raj GroverChief Executive Officer – High Tide VenturesRaj is the founder of High Tide Ventures and its subsidiary companies: RGR Canada,Smoker’s Corner and Canna Cabana, and co-founder of High Tide’s newest subsidiary,Famous Brandz. Raj started Smoker’s Corner in 2009 and has been operating profitably as apioneer in the cannabis accessories industry ever since. He leads the industry inmanufacturing capabilities and has built the largest network of retail stores in Canada.

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Ronan Levy, JDChief Strategy Officer – Trait BiosciencesRonan is Co-Founder, Chief Corporate Officer, and General Counsel of Canadian CannabisClinics, Canada’s largest network of cannabis-specialized medical clinics. Ronan is also a co-founder of CanvasRx Inc., which was acquired by Aurora Cannabis (TSX:ACB) where heremained with the company as SVP of Business and Corporate Affairs until joining TraitBiosciences.

Board of Advisors (continued)

Ray YueCo-Founder and Director – Canndara VenturesRay is a Clinical Pharmacist, serial entrepreneur, and healthcare innovator. Ray is a Co-Founder and Director of Canndara, a cannabis-based apothecary operating across fourprovinces. He is also the Chairman and Co-Founder of Imagine Health and FEMME |HOMME Medical. Ray is a member of YPO; he is a City of Edmonton Top 40 under 40Alumni and selected as Canada’s Top 40 Canadian Entrepreneurs in 2017 by Ivey Business.

Clifford StarkeChief Executive Officer – Franchise CannabisClifford is Chairman, President & CEO of Franchise Cannabis, a Canadian fully integratedseed-to-sale cannabis company with decades of world class genetics to develop high qualityCBD and THC extracts to a rapidly growing international market, specifically Colombia,Croatia, Israel, and Uruguay. Previously, he was the 5th shareholder of Nuuvera which wasacquired by Aphria for $826 million in March 2018.

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The principals of CIF were early investors in the cannabis sector; our private cannabis portfolio was up >300% in 2017 with strategic investments into early-stage cultivators and ancillary players.

Established Track Record

Tinley Beverage Company (TNY-CN) –2017: $0.36 to $1.76 (388%)

Emerald Health Therapeutics (EMH-V) – 2017: $1.34 to $5.24 (291%)

Bien Brands – Bien’s focus is the development,marketing and sale of cutting edge THC/CBDproducts that are “micro-dosed” to achieveconsistent and reliable effects in every individualwho consumes them. The CEO is founder andformer CEO of Well Juicery, Canada’s largest coldpressed juice company with distribution in over700 grocery and convenience stores. YTD return:↑ 171%

High Tide Ventures – High Tide is a privately-held, Alberta-based, downstream cannabisaccessories corporation. It is among the mostvertically-integrated players in the Canadiancannabis market, with several portfoliocompanies, including Famous Brandz, RGRCanada, and Canna Cabana. CIF is an investor inthe seed round.

CannaIncome Fund is currently inadvanced discussions with severalcannabis companies operating in theedibles, consumables, and dispensariessectors about potential investments inthe founders or seed rounds.

Select past investments: Select current investments:

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Select Current Portfolio Investments

• The Green Organic Dutchmanhas a funded capacity of 116,000kg per year and is building970,000 sq. ft. of cultivationfacilities in Ontario and Quebec.

• In addition, including therecently completed IPO and over-allotment option, the companyhas raised approximately $290million dollars and has over5,000 shareholders.

• YTD return: ↑ 44%

• Being one of a limited number ofLicensed Dealers in Canadaauthorized to handle andconduct cannabinoid products,Scientus Pharma has the abilityto wholesale, buy, process andsell cannabinoid derivatives,from and to Licensed Producers,as well as international markets.

• Scientus is also a LicensedProducer (Cultivation) under theAccess to Cannabis for MedicalPurposes Regulations (ACMPR).

• YTD return: ↑ 33%

• Camarico Group is acomprehensive private equityfund for the integratedinvestment of medical andrecreational marijuana interests.

• Camarico Land & DevelopmentCorp. is a speculative re-zoningand phased development of 320acres of lease land designated forthe cultivation of marijuana inthe County of Vulcan, Alberta,Canada.

• YTD return: ↑ 300%

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Diversified Fund Mandate / Allocations

Seed Broker

GrowerCultivator Trimmer

Distributor

MakerBakerConcentrate Maker

PackagerGraphic DesignerMarketerWarehouse worker

SellerShop ownerReceptionistSecurityBrand ambassadorDelivery

Consumer

Tester

~10%

~20%

~10%

~10%

~20%

~20%AncillaryAttorney

Glass blowerRealtor

RegulatorResearcherConsultant

Software developer

~10%

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Source: Deloitte

Industry GrowthThe cannabis industry is stillvery much in the early-growthstage and has the capacity torival alcohol and tobacco interms of aggregate economicimpact.

We see many ways for theinvestor to gain leverage to thespace; not least of which arevertically integrated producers(capturing the entire revenuestream) and ‘pick and shovel’plays, supporting thecultivators.

BASE MARKET

ANCILLARY MARKET

POTENTIAL UPSIDE

$4.9-8.7BBase Retail

Market ValuePopulation of Adult Consumer

Annual Consumption

Volume in Grams per Consumer

Price per Gram of Marijuana

$12.7-22.6B

Potential upside is greater than

20B

Growers Infused Product Testing Labs Security

>$22.6BTotal Market Size

PotentialTourism Revenue

Business Taxes License Fee Paraphermalla

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Source: https://www.drugabuse.gov/publications/drugfacts/marijuana-medicinehttps://papers.ssrn.com/sol3/papers.cfm?abstract_id=3063288http://www.cbc.ca/news/health/marijuana-opioids-1.4602135

Medicinal Benefits

Notwithstanding the growing recreational market (alcohol sales -13% in legalized states), current and developing cannabinoid research towards end-products is an area where CannaIncome Fund looks to invest and support the myriad of potential health beneficiaries:

• CNS Disorders (Seizures/Epilepsy)

• Spinal Cord Injuries (Multiple Sclerosis)

• Fibrous Dysplasia

• Alzheimer's• Autism

• Parkinson’s Disease

• Crohn’s & Colitis• Eating Disorders/Anorexia

• Pain reduction (avoid Opioid misuse and addiction)

• HIV/AIDS

• Glaucoma

• PTSD• Cancer/Terminal Illness

• Lupus

• Sleep Disorders/Migraines/ Concussions

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Key Industry Catalysts• Unlike in the US, Canada enjoys provincial and federal

support – we see much less systemic risk north of theborder, but key US states represent investmentopportunities should the political backdrop improve.

• Investors have flooded to producers / cultivators in thelast two to three years, but margin compressionremains a concern as non-cannabis farmers and / orforeign cultivators capture market share. We see this asa risk in the longer term for small cultivators, butrepresents consolidation potential in the short-mediumterm.

• As consumers become more comfortable with retailproducts, we see expansion potential into cannabis-infused products (i.e. oils, lotions, pills etc.) Branddifferentiation will be key, not unlike other consumablesin other verticals. Retail / distribution business modelswill not likely see the same margin compression ascultivators.

Legalization in Canada has beenslated for July 2018 but cultivatorshave been aggressively buildingfacilities to meet expecteddemand. Similarly, investors havealso been positioning themselvesahead of the legislation.

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Industry Trends

Per the last page, smaller indoor facilities have been ubiquitous in Canada because of the higherquality and smaller geographic footprint, but as larger players move into the space the race to thebottom on costs will be won via greenhouses and outdoor facilities.

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Industry Trends (continued)

Vertical integration is preferred within our investment mandate: “Infused products and edibles are thefastest growing category in the cannabis industry, proving extremely popular with recreationalconsumers and medical patients alike. While flower still accounts for the majority of retail sales,concentrates and edibles continue to eat into flower’s share of the market with each passing year.”-Marijuana Business Daily

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Industry Trends (continued)

The estimated demand for recreational cannabis in the US alone is estimated to reach $55 billion upover 9x from 2017 sales.

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Industry Capital Requirements

• Traditional banks and/or US public markets have been reticent – this provides an opportunity for Canadian investors to seek favorable terms.

• Public late-stage cultivators tend to trade at 10-20x multiple of private cultivators – the reward for liquidity is significant in the industry.

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Company Size TypeInnovative Industrial Properties 100.0$ EquityCann Group Limited 58.7$ EquityDelta 9 Cannabis Inc. 20.0$ EquityMTech Acuisition Corp 50.0$ Equity/FundGW Pharmaceuticals plc 317.4$ Equity/IPOSurna Inc. 1.8$ EquityAphria Inc 100.0$ EquityMaricann Group Inc 20.0$ EquityHarvest One Cannabis Inc. 20.1$ Convertible NoteBaker Technologies 11.8$ EquityMedicine Man Technologies Inc. 1.5$ EquityABcann Global Corporation 30.0$ Convertible NoteMPX Bioceutical Corporation 26.5$ EquityMJardin Group (USD) 20.0$ Equity/Convertible Fund M&ADOJA Cannabis Company Limited 17.3$ Convertible NoteCronos Group Inc. 30.0$ EquityQuadron Cannatech Corporation 5.0$ EquityEmerald Health Therapeutics Inc 15.0$ EquityAurora Cannabis Inc 230.0$ Convertible NoteLiberty Health Services 15.0$ EquityHydropotheracy Corporation 149.5$ EquityDOJA Cannabis Company Limited 12.5$ EquityMedReleaf Corp 132.5$ EquityHarvest One Cannabis Inc 40.3$ EquityMaricann Group Inc 40.3$ EquityOrganigram Holdings Inc 115.0$ Convertible Note4Front Holdings LLC 6.0$ Equity/FundCanopy Rivers Corp 26.0$ Equity/FundSlang Worldwide 15.0$ Equity51st Parallel Inc. 15.0$ EquityGrowGeneration Corp. 9.0$ EquityEmblem Corp. 53.8$ Equity/ConvertiblesWheaton Income Corp 57.7$ Warrants exercisedKhiron Life Sciences Corp. 11.2$ EquityAnandia Laboratories Inc. 13.4$ EquityCanopy Growth Corporation 200.0$ EquityNuuvera Inc. 35.0$ EquityInnovative Industrial Properties 26.0$ EquityAqualitas Inc. 8.8$ EquityAurora Cannabis Inc/Cannimed Therapeutics 1,100.0$ AcquisitionNewstrike Resources Ltd. 51.5$ EquityCanndescent California 10.0$ EquityAphria Inc/ Nuuvera 826.0$ AcquisitionABcann Global Corporation 74.8$ Equity/ConvertiblesMaricann Group Inc 70.0$ EquityNamaste Technologies Inc. 30.0$ EquityTilrary Ltd. 60.0$ EquityKush Bottles, Inc 6.0$ EquityBraingrid Corporation 2.6$ EquitySundial Growers Inc. 56.0$ DebtRavenQuest BioMed Inc. 26.3$ EquitySunniva Inc. 25.0$ EquityCannex Capital Group Inc. 48.0$ EquityThe Green Organic Dutchman Holdings Ltd. 100.0$ EquityCannaRoyalty Corp. 15.0$ EquityGreen Tank Technologies 4.3$ EquityVangst 2.5$ EquityCronos Group Inc. 100.0$ EquityTotal 4,665.0$

Funds Flow• Significant capital flow into the vertical in the last 90

days: $4.7 billion supported primarily byinstitutional buying and retail diversification.

• Recent large acquisitions (~$5 billion in value) give aleading indicator of the consolidation pending inthe space.

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Sector Performance2017 was a breakout year for the space (average up 50%), supplanting other verticals that have languished (i.e., Energy Index -14%); we see this trend continuing against a backdrop of a challenged energy macro/commodity environment.

-40%

-20%

0%

20%

40%

60%

80%

100%

120%

2017-04-02 2017-05-02 2017-06-02 2017-07-02 2017-08-02 2017-09-02 2017-10-02 2017-11-02 2017-12-02 2018-01-02 2018-02-02 2018-03-02

Canadian Sector PerformanceHMMJ.TO XEG.TO XFN.TO XGD.TO XIC.TO XRE.TO XBM.TO

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Strong Private Deal Pipeline – ExamplesOpportunity #1 Company A specializes inthe production of natural molecules andtheir derivatives, as well as the developmentof new molecules that have the potential tobecome a new generation of therapeutics.

• Unlike synthetic cannabinoids, which are made in a lab

and may not truly replicate the natural cannabinoids,

scientists are able to produce the compounds at

potentially a fraction of the cost using natural growth

processes.

• The company is a Licensed Dealer under the Narcotic

Control Regulations of Health Canada.

• CIF sees, on average, between three to five private

cannabis companies per week.

Opportunity #2 Company B develops andsupplies high quality cannabis-infused foodproducts targeted at discriminatingconsumers. The company introduced itsfirst two products in October 2017.

• Their products are now being carried in over 50 storesin California; on average, sales have been increasing by

90% each month.

• The US retail market for cannabis products is expected

to reach $30 billion by 2021 and the Canadian retail

market for cannabis products to reach $15 billion by2022; edibles are expected to be 40-50% of total retail

cannabis market.

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Contact Us

300 Roslyn Building400 – 5th Avenue SWCalgary, Alberta T2P 0L6Canada

Arthur H. Kwan, MBA, CFA, ICD.DPresident & CEO(403) 999-7808ak@cannaincomefund.ca

Michael A. ZukVP, Investments(403) 604-7880mz@cannaincomefund.ca

www.cannaincomefund.ca