Ikänik Farms Completes Palm Springs Dispensary, Lounge and Delivery Location

CORONA, Calif., Aug. 31, 2021 /PRNewswire/ - Ikänik Farms, Inc. (CSE: IKNK.U) (FSE: DFMA) (the "Company" or "Ikänik Farms") is pleased to announce it has completed the construction and state and local licensing of its Palm Springs dispensary, consumption lounge and home delivery.

"We are very excited to complete our flagship dispensary and consumption lounge that will set a new standard for cannabis experiences in the Palm Springs area, with operations targeted to begin October 2021." said Brian Baca, CEO of Ikänik Farms.

Conveniently located one block from "Main Street" in the heart of Palm Springs, the licensed 1,800 square foot dispensary offers customers an open and modern shopping experience, a highly trained staff, and a wide assortment of California's leading brands and Ikänik products, exclusive brand apparel and other soft goods, locally inspired to create a consumer centric shopping experience. An online reservation system will offer customers the convenience of shopping from their home and will support curbside pickup and home delivery.

The consumption lounge boasts 2,200 square feet of open and airy space, cascaded with natural light from its vaulted ceilings and a state-of-the-art ventilation and filtration system to provide an appealing venue for dispensary customers, private parties, and special events.

The company is excited to provide the Palm Springs area with employment opportunities ranging from store management to budtenders and support staff positions, with well-paying jobs that offer upward mobility and internal promotion opportunities.

"We will see dispensary revenue commence in Q4, with the completion of our California vertical integration supporting margin growth moving into 2022", said Ryan Ciucki, CFO Ikänik Farms.

About Ikänik Farms

Ikänik Farms is a California based, Multi-National Operator (MNO) who is building a dynamic portfolio of brands, inspired by its passion for health and wellness, action sports, and supported by its vertically integrated retail, distribution and cultivation in CA and its medical grade cultivation and laboratory in Colombia. The Company's leadership brings decades of expertise in R&D, cultivation, retail, branding, and corporate finance. Ikänik Farms' operation in Colombia, through its pharma division Pideka, holds GMP-PHARMA, (GACP) Good Agricultural and Collection Practice, (GPTCP) Good Production Transformation & Commercialization Practices Cannabis Pharma and ISO-9001:2015 certifications for its Casa Flores operating facility.

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.

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: 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.

SOURCE Ikänik Farms Inc.

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SOURCE Ikanik Farms Inc.

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