DENVER, CO / ACCESSWIRE / January 7, 2019 / International Cannabrands Inc. (CSE: JUJU) (the
"Company") is pleased to announce that further to its press release dated December 7, 2018, it has completed the
second closing event to acquire a 51% equity interest in La Vida Verde, Inc. ("LVV").
La Vida Verde is a highly respected branded cannabis product manufacturer and distributor based in Santa Cruz, CA. The business
has powerful growth prospects due to its family of brands including Skunk Feather concentrates, organic LVV edibles and other
cannabis products. La Vida Verde was founded and is run by Bryce Berryessa and Eric Hara, two of the most respected veterans of the
cannabis industry in California.
Pursuant to the definitive agreement dated September 19, 2018 (the "Definitive Agreement"), as amended, the
Company made an aggregate capital contribution of US$1.3 million to LVV, issued 25,225,161 Common Shares of the Company to the
holders of LVV and promissory notes for an aggregate of US$2,000,000 due as to 50% on March 31, 2019 and 50% October 31, 2019. The
notes bear interest at a rate of 5% per annum and are secured by a pledge of the portion of the securities represented by the
amounts owing. The Common Shares are subject to a restriction in that the holders have agreed that without the express written
consent of the Company, no more than 50% may be sold in the calendar year 2019 with the balance only saleable in 2020 or after
In addition, pursuant to the Definitive Agreement a subsequent US$700,000 capital investment is contemplated to be made in April
2019. In addition, under the Definitive Agreement, one of either Eric Hara, Bryce Berryessa (or their nominee) is expected to join
the Board of Directors of the Company, and Steve Gormley will join the Board of LVV.
The capital investments in LVV supported an expansion of sales and operations staff, inventory required by rapid growth and to
expand manufacturing capacity.
About International Cannabrands (ICI)
ICI acquired the exclusive rights to Julian Marley's JuJu Royal™ brand. ICI currently generates revenue from licensing brands to
growers, edible manufacturers, oil extractors, producers of ancillary products and apparel in the United States where cannabis has
been legalized at the state level, as well as products containing CBD in the US and internationally. ICI intends on acquiring micro
brands with highly profitable operations in the cannabis space. The Company believes as the market becomes saturated with products
varying in potency and quality, that the branded products will rise to the top and the Company intends to exploit all opportunities
available to realize the full value of the Julian Marley brand and other brands.
About JuJu Royal
Julian Marley conveys his message of legalization, freedom, and love through the JuJu Royal brand, a line of naturally produced
medicinal herbs using the best solventless technology. One percent of proceeds are distributed for the benefit of veterans using
cannabis through the Weed for Warriors Project. More information about the brand and various products can be obtained at www.jujuroyal.net. International Cannabrands Ltd is continuing to work with Julian Marley to
identify and develop future strains of marijuana that meet Julian's exacting standards. The Company is continuing to conduct
research and development with certain origin genetics to produce additional signature Julian Marley strains for the JuJu Royal
Premium Marijuana collection. The intent is to make these strains available to dispensaries and caregivers on a worldwide basis
where it is legal.
International Cannabrands Contact:
Steve Gormley
Chief Executive Officer
1045 Lincoln Street, #106
Denver, Colorado 80203
Ph: (323) 828-4321 or steve.gormley@intlcannabrands.com
Media Inquiries: media@jujuroyal.net
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR THEIR REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward Looking Statements
This news release contains forward-looking statements. There is no assurance that International Cannabrands will be able to
realize all the expected benefits from its acquisition of 51% of LVV. These forward looking statements involve risks and
uncertainties. Events or circumstances may cause actual results to differ materially from those anticipated as a result of numerous
known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company or the parties to
the agreement. These include legal and regulatory changes, the impact of general economic, industry and market conditions;
expectations regarding market demand for particular products and the dependence on new product development; the impact of product
competition. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is
cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking
statements contained in this news release are made as of the date of this news release and Management of the Company disclaims any
intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or
otherwise, except as required by applicable securities laws.
SOURCE: International Cannabrands Inc.
