Ikänik Farms Becomes First to Export Pharmaceutical Grade Cannabis to Mexico for COVID-19 Research

A collaboration with CAS Biotechnology for COVID -19 research supports Ikänik's initiatives to develop a pharmaceutical cannabis market in Mexico

BOGOTA, Colombia, July 20, 2020 /CNW/ - Ikänik Farms, Inc. (the "Company" or "Ikänik") is pleased to announce that  Pideka SAS ("Pideka"), a wholly owned Colombian subsidiary of the Company, has signed a collaborative agreement with CAS Biotechnology, for cannabis research on the potential medical benefits in the treatment of COVID-19, with pharmaceutical grade cannabis oil provided by the company's GACP and GMP-Pharma certified Casa Flores facility, located outside of Bogota, Colombia. The company's cannabis is supported by agronomically certified genetics and is currently sold in Colombia for use in Formula Magistral.

"We are excited to partner with CAS Biotechnology on the first export of pharmaceutical grade Cannabis to Mexico, in hopes to aid in the treatment of COVID-19," said Borja Sanz de Madrid, President of Ikänik International.

The testing will be conducted by CAS Biotechnology's scientific team at their research facility in Mexico. CAS Biotechnology's team is comprised of scientists with expertise in molecular and synthetic biology, bioinformatics, genomics, proteomics, and pre-clinical trials. Pideka will provide samples to CAS Biotechnology for conducting scientific research and pre-clinical trials to determine the effect of Cannabis oil on SARS-CoV-2's replication cycle.

"We are very proud to participate in a study that brings medicine and cannabis closer together, in a joint effort to discover possible Phyto therapeutic treatments, as a new course of action for the treatment of COVID-19," said Brian Baca, CEO of Ikänik Farms.

Testing Methodology

CAS Biotechnology will test the ability of the supplied cannabinoids to interact with key proteins of the SARS-CoV-2. These experiments will be performed in vitro, using world-wide approved methodologies for the analysis of molecular interactions between SARS-CoV-2's viral proteins and the human receptors, to avoid the risk of contagion. The estimated timeline for the project is less than one year.

About Ikänik Farms

Ikanik Farms is creating a dynamic portfolio of cannabis brands aimed to support global pharmaceutical demand, rooted in health and wellness, action sports and unified with passion. The company's leadership brings decades of expertise in R&D, cultivation, retail, branding, and corporate finance with the ambition to build the world's most iconic, vertically integrated "seed-to-sale", "MNO" Multi-National Operator. Ikänik Farms' currently has operations located in California and Colombia, through its pharma division Pideka which holds both GMP_PHARMA and (GACP) Good Agricultural and Collection Practice certifications for the Casa Flores, operating facility.

About CAS Biotechnology

CAS Biotechnology is a Mexican company dedicated to the design, production, and optimization of biotechnological strategies for various markets. The main interests span basic scientific research, biotechnology, bioinformatics, science outreach, education, and technological development. Its team uses frontier tools to identify pathways and/or molecular targets with medical, veterinary, and industrial relevance. CAS Biotechnology provides innovative and personalized strategies allowing them to get better solutions.

Forward Looking Statements

This news release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws (together, "forward-looking information). All information, other than statements of historical facts, included in this news release that address activities, events or developments that the Company expects or anticipates will or may occur in the future is forward-looking information. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "believe", "should", and similar expressions, are forward-looking information, including, but not limited to, any statements with respect to the efficacy of treatment of COVID-19 with pharmaceutical grade cannabis oil or any cannabis product and statements under the heading "Testing Methodology".

Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking information, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: cannabis products having no medical benefit with respect to the treatment of COVID-19, the project not being able to be completed on the timeline described herein, or at all, changes in laws, a change in management, the inability to obtain additional financing, increased competition, hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and, regulatory or political change.

There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in the forward-looking information may differ materially from actual results or events.

Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information in this news release is made as of the date of this release. The Company disclaims any intention or obligation to update or revise such information, except as required by applicable law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.

On behalf of the Board of Directors of Ikänik Farms, Inc.

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SOURCE Ikanik Farms Inc.

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