Canadian firm becomes “First to Export”

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Ikänik Farms Becomes First to Export Pharmaceutical Grade Cannabis to Mexico for COVID-19 Research.

A collaboration with CAS Biotechnology for COVID-19 research supports Ikänik’s initiatives to develop a pharmaceutical cannabis market in Mexico.

VANCOUVER, British Columbia, July 21, 2020 (GLOBE NEWSWIRE) — Canadian Imperial Venture Corp. (TSXV:CQV.H) (the “Company”) is pleased to announce that Pideka SAS (“Pideka”), a wholly owned Colombian subsidiary of Ikänik Farms, Inc. (“Ikänik” or “Ikänik Farms”), has signed a collaborative agreement with CAS Biotechnology for cannabis research on the potential medical benefits in the treatment of COVID-19 with pharmaceutical grade cannabis oil provided by Pideka’s GACP and GMP-Pharma certified Casa Flores facility located outside of Bogota, Colombia. Pideka’s cannabis is supported by agronomically certified genetics and is currently sold in Colombia for use in Formula Magistral.

“We are excited to partner with CAS Biotechnology on the first export of pharmaceutical-grade cannabis to Mexico with hopes to aid in the treatment of COVID-19,” said Borja Sanz de Madrid, President of Ikänik International. 

The testing will be conducted by CAS Biotechnology’s scientific team at their research facility in Mexico. CAS Biotechnology’s team is comprised of scientists with expertise in molecular and synthetic biology, bioinformatics, genomics, proteomics and pre-clinical trials.  Pideka will provide samples to CAS Biotechnology for conducting scientific research and pre-clinical trials to determine the effect of cannabis oil on SARS-CoV-2’s replication cycle.

“We are very proud to participate in a study that brings medicine and cannabis closer together in a joint effort to discover possible Phyto therapeutic treatments as a new course of action for the treatment of COVID-19,” said Brian Baca, CEO of Ikänik Farms.

Testing Methodology

CAS Biotechnology will test the ability of the supplied cannabinoids to interact with key proteins of the SARS-CoV-2. These experiments will be performed in vitro, using world-wide approved methodologies for the analysis of molecular interactions between SARS-CoV-2’s viral proteins and the human receptors, to avoid the risk of contagion. The estimated timeline for the project is less than one year.

About Ikänik Farms

Ikänik Farms is creating a dynamic portfolio of cannabis brands aimed to support global pharmaceutical demand rooted in health and wellness, action sports and unified with passion. Ikänik Farms’s leadership brings decades of expertise in R&D, cultivation, retail, branding, and corporate finance with the ambition to build the world’s most iconic, vertically integrated “seed-to-sale”, “MNO” Multi-National Operator. Ikänik Farms currently has operations located in California and Colombia through its pharma division Pideka, which holds both GMP-PHARMA and (GACP) Good Agricultural and Collection Practice certifications for the Casa Flores, operating facility.

The Company previously announced that it had entered into a business combination agreement with Ikänik Farms whereby the Company has agreed to acquire all of the issued and outstanding securities of Ikänik Farms and the business of Ikänik Farms by way of a three-cornered amalgamation (the “Transaction”). The Transaction will result in a reverse takeover of the Company by the security holders of Ikänik Farms.

None of the securities issued in connection with the Transaction will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

On behalf of the Board of Directors of Canadian Imperial Venture Corp.

Jacqueline M. Tucker

Source: Canadian Imperial Venture Corp

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