The Partnership Seeks to Develop Cannabis-Based Products for the Treatment of Human Diseases, Beginning with Colon Cancer

VANCOUVER, British Columbia, Nov. 08, 2019 (GLOBE NEWSWIRE) — Canadian Imperial Venture Corp. (TSXV:CQV.H) (the “Company”) is pleased to announce that Ikänik International, Inc. (“Ikänik International”), a wholly owned subsidiary of Ikänik Farms, Inc. ( “Ikänik Farms”), represented by its medical division in Colombia, Pideka SAS, has signed a two-year collaborative R&D agreement with Corporation for Biological Research (“CIB”), a non-profit Colombian scientific research corporation center, to develop cannabis-based products for the treatment of human diseases.

“CIB has a national reputation as a center of excellence for biological research,” said Brian Baca, CEO of Ikänik Farms. “We look forward to working with some of Colombia’s leading academics, including clinical and technological specialists, to advance the development of cannabis-based medical treatments.”

The initial objective will be focused on researching and developing cannabis-based products to help prevent and slow the growth of colon cancer cells with treatment of cannabinoids, through nanotechnology. Ikänik Farms will be responsible for producing cannabis plant material for CIB, collaborating on the research and by conducting tests on the derivatives of the cannabis plant material in order to evaluate the efficacy in the treatment of colon cancer.

Pending the successful completion of the testing phase, Ikänik Farms will work with CIB to apply formulation technologies to the derivatives (based upon technology developed by the Corporation for Biological Research) to create a colon cancer treatment model through pre-clinical and clinical studies.

“Ikänik Farms and CIB are collaborating on research aimed to develop cannabis-based products for the pharmaceutical market to treat diseases in humans, while increasing the scientific understanding of the cannabis plant and its use in future applications,” said Borja Sanz de Madrid, President of Ikänik International.

About CIB

The Corporation for Biological Research, “CIB”, is a scientific research institution classified by Colombian sciences as a research center of excellence specializing in health science biodiversity, agricultural and environmental biotechnology. Their work is based on research, clinical and technological developments in the area of ​​biological sciences collaborating with national and international partners. CIB seeks to build relationships with productive sectors through innovation and technology and currently participate in the training of researchers, the provision of specialized services and academic dissemination.

CIB is comprised of five participating universities; Universidad Pontificia Bolivariana (UPB), Universidad Nacional de Colombia sede Medellin (UN), Institucion Universitaria Colegio Mayor de Antioquia, Universidad de Santander (UDES) and Universidad de Antioquia. For further information regarding CIB, please refer to their website: http://cib.org.co/quienes-somos/

About Ikänik Farms

Ikänik Farms is creating a dynamic portfolio of cannabis lifestyle brands, deep rooted in action sports and entertainment and unified with passion. Ikänik Farms’ leadership brings decades of expertise in R&D, cultivation, retail, branding, and finance with the ambition to build the nation’s most iconic vertically integrated “seed-to-sale”, “MNO” Multi-National Operator. Ikänik Farm’s operations are currently located in California and Colombia.

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.

About Pideka SAS

Pideka is a medicinal cannabis company authorized by the Colombian government to cultivate, produce, manufacture and export cannabis derivatives, extracts and seeds for medical and scientific purposes. In addition to being Colombia’s first licensed indoor cannabis producer, Pideka was responsible for opening Colombia’s first legal medicinal cannabis dispensary in 2014.