Hollister Biosciences Inc. and Heavy Brands Inc. Enter into Letter of Intent for Proposed Joint Venture Agreement

Hollister Biosciences Inc., the creator of California's most hash-infused pre-roll HashBone, is pleased to announce that it's entered into a letter of intent to manufacture pre-rolls for some of the biggest names in rock and metal music.

VANCOUVER, BC, Aug. 5, 2020 /PRNewswire/ - Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (the "Company", "Hollister Cannabis Co." or "Hollister") a diversified cannabis branding company with products in over 230 dispensaries throughout California, and over 80 dispensaries throughout Arizona, is pleased to announce that it has entered into a letter of intent (the "LOI") to complete a Definitive Agreement (the "Agreement") with Heavy Brands Inc. ("Heavy"), a rock and heavy metal lifestyle cannabis branding company.

Under the terms of the Agreement, Heavy intends to license its Heavy Grass brand for use by Hollister in connection with branding, production and sale of cannabis products primarily via collaborations with its roster of music artists. Hollister will grant to Heavy a limited license for use of its HashBone brand for incorporation into any packaging and/or logo design of products. Heavy will retain ownership of all co-brand designs.

Products will be introduced in time and will include separate product branding. Heavy will lead the marketing initiatives of the new products leveraging their unique access to the live music industry.  

Heavy-Hollister co-brand products will be distributed exclusively by Hollister's distribution partner, Indus Holdings Inc. (CSE: INDS), with the first product anticipated to be ready for distribution by October 1, 2020.

When asked about the Agreement, Dez Mitchell, head of Product Development from Heavy shared: "We are so thrilled to begin our partnership with Hollister and cannot wait to launch our first products together this fall.  For our Heavy Grass family, music and cannabis go hand in hand.  We have been fortunate to get to know Carl and his team over the last year and they have proven to uniquely understand our vision.  We are excited to show the world what we've been working on together."

CEO of Hollister Biosciences, Carl Saling, also shared: "Music and cannabis have gone together for so many years; and lately, for the most part, it's been all connected to rap and hip hop. I have always wanted to bring more attention to cannabis and connect with fans of heavy metal in a truly authentic way.

We have big things in store for our initial launch, and looking forward to many awesome rock and metal collaborations that Hollister and Heavy Grass will be bringing to market."

About Heavy Brands

Heavy Brands Inc. is a Southern California lifestyle cannabis branding and marketing company building globally recognized cannabis lifestyle brands based in Los Angeles.  It's flagship brand, Heavy Grass, has grown organically by connecting hard rock and heavy metal fans to cannabis products that speak to their lifestyle.  Additionally, Heavy Grass releases a seasonal line of apparel that is worn by some of the largest rock artists and fans around the world.

Website: https://getheavy.com/

About Hollister Biosciences Inc.

Hollister Biosciences Inc. is a multi-state cannabis company with a vision to be the sought-after premium brand portfolio of innovative, high-quality cannabis & hemp products. Hollister uses a high margin model, controlling the whole process from manufacture to sales to distribution or seed to shelf. Products from Hollister Biosciences Inc. include HashBone, the brand's premier artisanal hash-infused pre-roll, along with concentrates (shatter, budder, crumble), distillates, solvent-free bubble hash, pre-packaged flower, pre-rolls, tinctures, vape products, and full-spectrum high CBD pet tinctures. Hollister Cannabis Co. additionally offers white-labeling manufacturing of cannabis products.  Our wholly-owned California subsidiary Hollister Cannabis Co is the 1st state and locally licensed cannabis company in the city of Hollister, CA birthplace of the "American Biker".

Website: www.hollistercannabisco.com

ON BEHALF OF THE BOARD

"Carl Saling"

CEO and Director

The CSE does not accept responsibility for the adequacy or accuracy of this release.

The CSE has not in any way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release.

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

SOURCE Hollister Biosciences Inc.