Ikänik Farms becomes the first company to complete a commercial sale of THC to Mexico

Ikänik Farms ships psychoactive cannabis oil to the Mexican market

CORONA, California, February 11, 2021 / CNW / - Ikänik Farms Inc. (the "Company") is pleased to announce that its Colombian subsidiary Pideka SAS ("Pideka") has successfully completed the first commercial sale and export of THC or tetrahydrocannabinol, (the psychoactive ingredient in cannabis) to Mexico, for use in the Master Formula.

"We are very happy to participate in this innovative moment for the cannabis industry and the countries of Mexico and Colombia, as the first Colombian company to export psychoactive cannabis oil to Mexico. We would like to thank both governments for their roles, ensuring may this collaborative effort remain a top priority. " said Borja Sanz from Madrid, President of Ikänik Farms, International.

Working hand in hand with both governments, the Company was able to obtain all the necessary certifications and permits to legalize the process and complete its 15-step procedure required to export psychoactive cannabis products from Colombia to Mexico.

Ikänik Farms legalized the psychoactive cannabis export process in Colombia, making it the first company to successfully complete a "commercial sale" for export.

Looking ahead, the company will provide cannabinoid solutions through the magisterial formula in LATAM to treat epilepsy, cancer, pain, nausea, anxiety, insomnia and support the growing demand of the EU market.

"We are proud to have participated in this historic moment and look forward to our growth, serving the global cannabis market." said Brian Baca, CEO of Ikänik Farms.

Ikänik Farms intends to list on the Canadian Stock Exchange.

About Ikänik Farms

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

Forward-looking statements

This press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and US securities laws (collectively, "forward-looking information). All information, other than statements of historical fact, including in this press release that addresses 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 press release, words such as "will", "may", " will be planned "," estimated "," expectation "," intent "," have "," potential "," believe "," must ", and similar expressions, are forward-looking information, which includes, but is not limited to, the Pideka's ability to export pharmaceutical grade cannabis products (eg seeds, tissue cultures, biomass and clones) to Casa Flores's European markets, the ability to complete the construction phases of the 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 may be other factors that cause results, performance, or achievements that are not expected, estimated or planned, including but not limited to: Pideka experiencing significant operational delays in the production of non-manufactured pharmaceutical grade cannabis products (e.g. seeds, tissue cultures, biomass and clones), to Casa Flores' European markets , construction delays or significant cost overruns in the construction of Casa Flores, future ineligible for pharmaceutical export to the European Union, changes in laws, a change in management, inability to obtain additional financing, increased competition, hinder market growth and state adoption due to public opinion a inconsistent and industry perception of medical and adult use of marijuana, and regulatory or political change.

There can be no guarantee that such information will 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 the actual results or events.

Consequently, readers should not unduly trust forward-looking information. The forward-looking information in this press release is made as of the date of this release. The Company declines any intention or obligation to update or revise such information, except as required by applicable law, and the Company assumes no responsibility for disclosure related to any other company mentioned in this document.

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

SOURCE Ikanik Farms Inc.

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