NEWS RELEASE

Material Change Report – Dec 10, 2020

Dec 10, 2020

FORM 51-102F3
Material Change Report

ITEM 1           Name and Address of Company

Champignon Brands Inc. (“Champignon” or the “Company”)
Suite 2200 – 885 West Georgia Street
Vancouver, BC
V6C 3E8

ITEM 2           Date of Material Change

December 7, 2020

ITEM 3           News Release

A news release announcing the material change was issued through the facilities of Canada Newswire on December 8, 2020 and subsequently filed on SEDAR.

ITEM 4           Summary of Material Changes

Mr. Chris Hobbs has been appointed as Interim Chief Financial Officer of the Company effective December 7, 2020, in replacement of Mr. Stephen Brohman who has resigned as the Company’s contract Chief Financial Officer.

ITEM 5           Full Description of Material Change

On December 8, 2020, the Company announced that Mr. Christopher Hobbs will join the Company as Interim Chief Financial Officer, effective December 8, 2020. Mr. Stephen Brohman, the Company’s contract Chief Financial Officer, resigned from the position, effective December 7, 2020. Mr. Brohman has agreed to assist the Company in order to ensure a smooth transition to a new fulltime Chief Financial Officer. Mr. Hobbs’ appointment is pending the recruitment and appointment of a full-time Chief Financial Officer as the Company announced on November 24, 2020.

ITEM 6           Reliance on Subsection 7.1(2) of National Instrument 51-102

Not applicable. This report is not being filed on a confidential basis.

ITEM 7           Omitted Information

No information has been omitted on the basis that it is confidential information.

ITEM 8           Executive Officer

For further information, please contact Chris Hobbs, Interim Chief Financial Officer of the Company, at 416- 276-6689.

ITEM 9           Date of Report

December 10, 2020.