Ikänik Farms Obtains GACP Certification

Updated: May 12, 2020

Good Agricultural and Collection Practice (GACP) Certification Provides Ikänik with the Ability to Export Non-manufactured Pharmaceutical Grade Cannabis Products to International Markets

BOGOTA, Colombia, Dec. 23, 2019 /CNW/ - Ikänik Farms, Inc. (the "Company" or "Ikänik") is pleased to announce that Pideka SAS ("Pideka"), a wholly owned subsidiary of the Company, has been issued a Good Agricultural and Collection Practice (GACP) for medicinal plants certification for its Casa Flores R&D and agronomic testing facility. The GACP for medicinal plants certification was issued by SGS Colombia, SAS ("SGS").

With this new certification, Pideka will have the ability to export non-manufactured pharmaceutical grade cannabis products (i.e. seeds, tissue cultures, clones and biomass) to European markets from its state-of-the-art Casa Flores cannabis camp, currently under construction. See the Company's press releases dated October 15, 2019, November 25, 2019, and December 16, 2019 for further information regarding Casa Flores and its stage of development.

"Our team has worked extremely hard over the last several weeks in Colombia to advance our overall mission. GACP certification for our R&D and agronomic testing facility is a testament to their efforts and is a positive milestone for the Company," said Borja Sanz de Madrid, President of Ikänik Farms International, Inc. "We look forward to continuing to work alongside SGS as we pursue GMP-C certification for Casa Flores."

About GACP

According to the World Health Organization ("WHO"), "Under the overall context of quality assurance and control of herbal medicines, WHO developed the Guidelines on good agricultural and collection practices (GACP) for medicinal plants, providing general technical guidance on obtaining medicinal plant materials of good quality for the sustainable production of herbal products classified as medicines. These guidelines are also related to WHO's work on the protection of medicinal plants, aiming promotion of sustainable use and cultivation of medicinal plants."

About Ikänik Farms

Ikänik Farms is creating a dynamic portfolio of cannabis brands, inspired by its passion for health and wellness, and action sports. Through development of its Colombian operations (Pideka), the Company aims to support global pharmaceutical demand for a variety of cannabis products. The Company's leadership brings decades of expertise in R&D, cultivation, retail, branding, and corporate finance with the ambition to build the most iconic "seed-to-sale", "MNO" Multi-National Operator. Ikänik Farms' operations are currently located in Colombia and California.

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, Pideka's ability to export non-manufactured pharmaceutical grade cannabis products (i.e. seeds, tissue cultures, biomass and clones), to European markets from Casa Flores, Pideka being able to obtain GMP-C certification for Casa Flores and the ability to maintain production at the Casa Flores Camp within the permissible limits proposed by the Council of Europe.

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: Pideka experiencing significant operational delays in production of non-manufactured pharmaceutical grade cannabis products (i.e. seeds, tissue cultures, biomass and clones), to European markets from Casa Flores, Pideka not being able to obtain GMP certification at Casa Flores, delays in construction or significant cost overruns in the construction of Casa Flores, future ineligibility for pharmaceutical exportation into the European Union, 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.

For further information: on Ikänik Farms, please contact: Investor Relations,, +1 951-210-7250

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