Mr. Steve Gormley reports

INTERNATIONAL CANNABRANDS ANNOUNCES SECOND CLOSING OF BROKERED FINANCING CO-LED BY GRAVITAS SECURITIES AND CANACCORD GENUITY

International Cannabrands Inc. has closed the second tranche of its previously announced brokered private placement pursuant to an engagement letter with Gravitas Securities Inc. and Canaccord Genuity Corp.

The company sold 5.5 million units at a price of 10 cents per share. Each unit consisted of one common share and one warrant. Each warrant entitles the holder to purchase one additional common share at a price of 15 cents per share for a period of 36 months. Together with the first tranche which closed Dec. 7, 2018, the company has raised gross proceeds of $1,302,000 to date pursuant to the offering.

The agents will be paid a cash commission equal to 7 per cent of the gross proceeds of the offering and will also receive warrants to purchase such number of common shares as is equal to 7 per cent of the units sold under the offering. The broker warrants will be exercisable for a period of 36 months following closing of the offering at an exercise price of 10 cents per share.

All of the securities issued under the private placement are subject to a hold period expiring four months and one day from the date hereof.

About International Cannabrands Inc.

The company's business model is to generate revenue from cannabis cultivation, brands ranging from flower to edibles and from THC (tetrahydrocannabinol) to CBD (cannabidiol), oil extraction, ancillary products and apparel in the United States. International Cannabrands markets products with THC content, where that practice has been legalized at the state level through either medicinal or full recreational use. International Cannabrands also markets products containing CBD in the United States and internationally. International Cannabrands' strategy centres on acquiring microbrands, distribution and specific manufacturing/cultivation companies in the cannabis space.

We seek Safe Harbor.