CannaVerde Pharma Inc. – The Future of Cannabis Cultivation in Latin America is Bright

Vancouver, British Columbia--(Newsfile Corp. - December 20, 2018) - CannaVerde Pharma Inc. ("CannaVerde" or "the Company"), a privately held Canadian company, is pleased to announce that it has entered into a share purchase agreement ("Share Purchase") to acquire all of the issued and outstanding shares of Green Health Colombia S.A.S ("Green Health"), a Colombian licensed medical cannabis company.

CannaVerde would also like to announce the closing of CAD$2,135,300 private placement. The company intends to use the proceeds to facilitate the closing of the transaction and to begin construction of production facilities in 2019.

"After undertaking an extensive due diligence process in Latin America, CannaVerde is excited to have completed this capital raise with the intent to acquire Green Health, a company we see as having great potential for future growth," commented Cannaverde's CEO Michael Nistorescu. "Our process led us to consider multiple candidates, but ultimately we found a great partner with a terrific team at Green Health. Given Colombia's optimal growing conditions, cost advantages and attractive regulatory environment, we are extremely excited about the future of the company."

The Company expects to finalize the acquisition in the next few weeks and looks forward to providing an update in the New Year.

For more information please contact:

Michael Nistorescu
Phone: 1 (416) 882-9006