Ikänik Farms Inc. Receives Final Approval to Commence Trading on the Canadian Securities Exchange

CORONA, Calif., March 31, 2021 /PRNewswire/ - Ikänik Farms Inc. (Formerly Canadian Imperial Venture Corp.) (the "Company" or "Ikänik") is pleased to announce that, further to its news release dated March 30, 2021, the Company has received final approval from the Canadian Securities Exchange (the "CSE") and will commence trading on the CSE under the symbol "IKNK", beginning April 6, 2021.

"I would like to thank our investors for their patience, and everyone involved who helped us get to where we are today. We are excited for what lies ahead in our pursuit to deliver value to our shareholders," said Brian Baca, CEO of Ikänik.

Ikänik's share capitalization consists of an unlimited amount of subordinate voting shares and series A multiple voting shares, of which 93,526,876 and 527,813, respectively, are currently issued and outstanding (209,917,796 subordinate voting shares on an "as-converted", fully- diluted basis).

"We are pleased to begin trading on the CSE and proud of the major milestone it represents for our company" said Borja Sanz de Madrid, President Ikänik International Inc.

The Company has remained focused on international operations and Latin America positioning, completing all certifications required to export pharmaceutical grade cannabis flower and full-spectrum cannabis oil to international clients. Ikänik has entered the global, pharmaceutical cannabis market through its Colombian operations, Pideka SAS ("Pideka") and will support the European Union and Latin American markets with flower and finished ingredient cannabis oil, produced in its Casa Flores facility. Pideka was the first company in Colombia to export THC for commercial sale and the first to export THC to Mexico, contributing to the legalization of the process in both respective countries, when the process was complete. Pideka is also the first indoor, vertical cultivator of pharmaceutical grade cannabis producer in Colombia. The Company's certifications and operating efficiencies enable production of cost-effective, indoor cannabis and provides access to international markets. 

Ikänik is in the process of entering the Mexican cannabis market, through the acquisition of Delta 9 Corporation ("D9C") in 2020. Through D9C, Ikänik holds the sole legalized "Amparo" in Mexico permitting the importation and registration of cannabis and hemp seeds, legalizing the commercial process to cultivate, manufacture, distribute both finished and bulk products nationally. The principals of D9C are seasoned regulatory and political experts who have been working hand-in-hand with legislators and heads of government to advance the legal framework for cannabis legalization in the country. 

Ikänik's California operations have been led by its state-of-the-art technology-based distribution platform to execute and deliver value and efficiency to its customers. The Company's derives strength from the wholesale of house brands and third-party service offerings, such as co-packing, order fulfillment, and sales services to brands and cultivators. 

Ikänik's 9,600 square foot indoor, vertical cultivation facility in Sacramento, CA is anticipated to be fully operational by May 2021, with a first harvest delivery of Ikänik's award-winning flower in Q2, to support both company operated and third-party dispensaries.

The Company is set to open its first dispensary and consumption lounge in Palm Springs with a target opening in June 2021. The dispensary features 2,200 square feet of retail space and an 1,800 square feet lounge, which we designed to accommodate the post-COVID consumer, through online order reservations, curbside pickup, and doorstep delivery options.

 Additionally, Ikänik has expanded its category offering to include hemp-based CBD topical lotions and sports rubs under both Ikänik and Pideka brand names to independent sports retail stores and country distributors and sold over fifty-thousand units in the first quarter of this year. To support the Ikänik brand the Company has partnered and enrolled global athletes into its ambassador program with the recent signing of legendary surf icon, Rob Machado, a 30-year professional surfer and one of the sport's largest names. 

The Company has teamed with up-and-coming snowboarding phenom, Toby Miller, to support and promote the Ikänik CBD brand among the athletic community. Toby has placed in the X games before and has made the invitation list to compete on this year's "invitation-only" platform. Along with earning a position on the US Snowboard team, for the men's halfpipe competition in the up coming winter Olympics. 

With some of the largest names in snow and surf standing behind Ikänik's CBD topicals, Ikänik Farms is quickly becoming one of the most trusted and authentic brands for quality products in health & wellness and action sports. The Company is continuing to grow its athlete and ambassador family through authentic relationships and a shared passion for life.

About Ikänik Farms

Ikänik Farms is a California based, Multi-National Operator (MNO) who is building a dynamic portfolio of brands, inspired by its passion for health and wellness, action sports, and supported by its vertically integrated retail, distribution and cultivation in CA and its medical grade cultivation and laboratory in Colombia. The company's leadership brings decades of expertise in R&D, cultivation, retail, branding, and corporate finance. Ikänik Farms' operation in Colombia, through its pharma division Pideka, holds both GMP-PHARMA and (GACP) Good Agricultural and Collection Practice certifications for its Casa Flores operating facility.

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, the trading of the Company's subordinate voting shares on the CSE, future sales of Pideka within Europe and Latin America, timing surrounding the completion of the Company's cultivation facility and future production and the timing of opening of the Company's Palm Springs dispensary.

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: 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.

Related Links:
Corporate Site: www.iknkbrands.com
Brand Site: www.ikanikfarms.com

Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

SOURCE Ikanik Farms Inc.

Related Links

https://ikanikfarms.com/