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Cannabco Announces That Proposed Reverse Takeover Will Not Proceed

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THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

TORONTO, Sept. 13, 2018 (GLOBE NEWSWIRE) -- Cannabco Pharmaceutical Corp. ("Cannabco" or the "Company") announces that it will not be proceeding with the previously announced letter of intent dated June 26, 2018 with Jiminex Inc. (TSXV:JIM) to combine their business operations (the "Transaction"). The proposed business combination was to result in a reverse takeover of the Company by Cannabco and its shareholders.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Cannabco Pharmaceutical Corp.
Cannabco Pharmaceutical Corporation ('Cannabco') was established with the intent of becoming a licensed cannabis producer under Health Canada's ACMPR program and is currently building out the first of its production facilities in the Greater Toronto Area.  The company is dedicated to establishing itself as a leader in top quality affordable pharmaceutical grade Marijuana supply and cutting edge research contributing to the growing needs of Canadians. Cannabco employs a proprietary cultivation technology developed specifically for Cannabco with a focus on increased yields at reduced production costs while maintaining industry leading pharmaceutical grade output for its clients.

For more information visit: www.cannabco.ca

SOURCE Cannabco Pharmaceutical Corp.

For further information: 
Phillip Chen, Business Development, (905) 771-8576 x 231, phillip@cannabco.ca

Cautionary Statements Regarding Forward Looking Information:
This news release contains "forward-looking information" within the meaning of applicable securities laws. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements.

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