Cannabis One Holdings Inc. Announces Appointment of Mr. Rahim Mohamed to its Board of Directors

Vancouver, British Columbia and Denver, Colorado--(Newsfile Corp. - August 11, 2020) - Cannabis One Holdings Inc. (CSE: CBIS) ("Cannabis One", "CBIS", or the "Company") is pleased to announce the appointment of Rahim Mohamed to its Board of Directors, in furtherance to the Company's press release of August 4, 2020 and Cannabis One's strategic rebranding to INDVR Brands Inc.

Mr. Mohamed will be an independent director of Cannabis One and brings over 20 years of private and public sector experience. Over the course of his career, Mr. Mohamed has built an exceptional reputation in business development, capital markets, operational streamlining, mergers, acquisitions, and internal audits.

Mr. Mohamed holds a bachelor's degree in Management with a specialization in Commerce and is a member of the Private Capital Markets Association of Canada (PCMA), formerly known as Exempt Market Dealers Association of Canada (EMDA). Mr. Mohamed currently serves as Chief Executive Officer and Director of Softlab9 Technologies Inc..

Joshua Mann, President and Interim CEO, commented, "I am extremely pleased to have Mr. Mohamed join the Board of Directors. Rahim brings a wealth of capital markets experience from multiple industries including cannabis, technology and natural resources, and I have the utmost confidence that his contributions will have immediate impact as we undergo our strategic rebranding to INDVR Brands Inc. and begin to build awareness around our EBITDA positive assets."

About Cannabis One

Cannabis One Holdings Inc. (CSE: CBIS) is a Colorado Based, Canadian listed Company hyper focused on creating and distributing unique and exciting brands for the US cannabis market.

Disclaimer and Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "anticipate", "could", "intend", "expect", "believe", "will", "projected", "potential", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In this news release, forward-looking statements relate, among other things, to: the completion of the corporate name change, the ability for the Company to find replacement directors and any adverse consequence thereof, the profitability of the Company now and into the future. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward- looking information contained herein.

Cannabis is legal in certain States in the United States ("U.S."), however cannabis remains illegal under U.S. federal laws. Cannabis One intends to conduct its U.S. cannabis operations in a manner consistent with the applicable State laws and compliance with regulatory and licensing requirements applicable in the applicable State. However, the readers should be aware that any change in federal guidance on enforcement actions could adversely affect Cannabis One's ability to access private and public capital required in order to support continuing operations and its ability to operate in the U.S.

Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale and possession of cannabis under the Cannabis Act (Federal), readers are cautioned that in the U.S., cannabis is largely regulated at the State level. To the knowledge of Cannabis One, there are to date a total of 33 states, plus the District of Columbia, that have legalized cannabis in some form. Notwithstanding the permissive regulatory environment of medical cannabis at the State level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. Federal law. Strict compliance with State laws with respect to cannabis will neither absolve Cannabis One of liability under the U.S. Federal law, nor will it provide a defense to any Federal proceeding, which may be brought against Cannabis One. Any such proceedings brought against Cannabis One may materially adversely affect its operations and financial performance in the U.S. market.

Further Information: For investment inquiries, please contact Scott Koyich, Investor Relations at Scott@briscocapital.com or (403) 619-2200.

Related Links www.cannabisone.life

THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61464

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