Ikänik Farms, Inc. (the “Company” or “Ikänik”) is happy to announce it has bought all issued and excellent shares of Delta 9 Corporation Mexico S.A. de C.V (“D9C”), primarily based in Coyoacán, Mexico. D9C’s authorized consultant is permitted to import and register hashish seeds for cultivation via the legalized Amparo course of. The Company intends to contract-produce for nationwide and worldwide pharmaceutical hashish and hemp-derived CBD shoppers.
“I am very excited to welcome D9C and its team of scientific, legal, and regulatory specialists who have been exemplary leaders, shepherding the cannabis legalization process, and providing Ikänik the opportunity to be a 1 of 1 in Mexico“, said Brian Baca, CEO of Ikänik Farms, Inc.
D9C is the exclusive Amparo representative to import, cultivate, and produce products derived from cannabis and hemp for national and international markets.
Borja Sanz de Madrid, President of Ikänik International, Inc. further emphasized, “We are proud to participate in this historic moment for Mexico. It will be our honor bringing pharmaceutical cannabis Hecho en Mexico para el mundo”
Upon D9C’s authorized consultant finishing the seed importation and registration course of, cultivation and facility building will start, offering employment alternatives and social help within the communities it serves.
This acquisition marks a big milestone for the Company, because it continues to develop its multi-national working presence and prepares to finish a public itemizing on the Canadian Securities Exchange.
- First-Mover Advantage: D9C will present Ikänik unparalleled velocity and entry to the Mexican and worldwide market. It would be the first to import licensed and licensed seeds for genetic registration from Ikänik’s Colombian GACP and GMP-PHARMA licensed “Casa Flores” location, paving the best way for cultivation actions and constructing a state-of-the-art complicated for hashish manufacturing.
- Diversified Product Portfolio for Domestic Sales: Ikänik Farms, will promote merchandise underneath its household of manufacturers, offering a broader target market for pharmaceutical retail companions throughout Mexico.
- Stable Supply for International Supply Agreements: D9C supplies Ikänik the power to proceed successfully scale and fill its rising worldwide provide agreements for pharmaceutical grade Cannabis and Hemp derived CBD, pending receipt of permits.
Under the Agreement between Ikänik and D9C (the “Agreement”), the shareholders of D9C agreed to switch to Ikänik all excellent shares of D9C (the “D9C Shares”) in alternate for consideration of as much as 10,000,000 frequent shares of Ikänik (the “Ikänik Shares”). The Ikänik Shares are to be transferred within the quantities and topic to the completion of the situations set out under:
- inside 10 enterprise days following the receipt of sure regulatory, task, company and tax documentation every as deemed passable by Ikänik, 5,000,000 Ikänik Shares shall be delivered ratably to the previous shareholders of D9C;
- inside 10 enterprise days following the receipt of sure company paperwork, import registrations and certifications and receipt of seeds as deemed passable by Ikänik, 3,000,000 Ikänik Shares shall be delivered ratably to the previous shareholders of D9C; and
- inside 10 enterprise days following the supply to Ikänik of a replica of validly issued seed and genetic registration certificates and a cultivation allow passable by Ikänik, 2,000,000 Ikänik Shares shall be delivered ratably to the previous shareholders of D9C.
If the satisfaction of every of the situations above doesn’t happen inside 18 months from the efficient date of the Agreement:
- every of the previous shareholders of D9C will switch the Ikänik Shares again to Ikänik.
D9C is a hashish license growth firm.
About Ikänik Farms
Ikänik Farms is making a dynamic portfolio of hashish manufacturers, impressed by its ardour for well being and wellness, and motion sports activities. Through the event of its LATAM operations, the Company goals to help international pharmaceutical demand for quite a lot of hashish merchandise. The Company’s management brings a long time of experience in R&D, cultivation, retail, branding, and company finance with the ambition to construct essentially the most iconic “seed-to-sale”, “MNO” Multi-National Operator. Ikänik Farms’ operations are at the moment situated in Colombia and California.
This information launch consists of “forward-looking information” and “forward-looking statements” throughout the which means of Canadian securities legal guidelines and United States securities legal guidelines (collectively, “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 related expressions, are forward-looking info, together with, however not restricted to, D9C’s authorized consultant finishing the seed importation and registration course of, cultivation and the start of facility building, the power of Ikanik to finish a public itemizing on the Canadian Securities Exchange, statements underneath the heading “Transaction Highlights” and the power of D9C to fulfill the situations set out underneath the heading “Acquisition Summary”.
Although the Company has tried to establish essential components that would trigger precise outcomes, efficiency or achievements to vary materially from these contained within the forward-looking info, there could be different components that trigger outcomes, efficiency or achievements to not be as anticipated, estimated or meant, together with, however not restricted to: D9C not having the ability to full the importation and registration course of, the start of facility building being delayed, Ikanik not having the ability to full its public itemizing on the Canadian Securities Exchange, the Company’s expectations with respect to the acquisition of D9C (as set out underneath the heading “Transaction Highlights” not materializing, and D9C not having the ability to fulfill the situations set out underneath the heading “Acquisition Summary”.
There could be no assurance that such info will show to be correct or that administration’s expectations or estimates of future developments, circumstances, or outcomes will materialize. As a results of these dangers and uncertainties, the outcomes or occasions predicted within the forward-looking info might differ materially from precise outcomes or occasions.
Accordingly, readers mustn’t place undue reliance on forward-looking info. The forward-looking info on this information launch is made as of the date of this launch. The Company disclaims any intention or obligation to replace or revise such info, besides as required by relevant legislation, and the Company doesn’t assume any legal responsibility for disclosure regarding every other firm talked about herein.
On behalf of the Board of Directors of Ikänik Farms Inc.
SOURCE Ikanik Farms Inc.