CANNAMERICA BRANDS CORP. provided an update on its binding letter of intent to create a joint venture with Invictus MD Strategies Corp. (Invictus) and CBDistribution Company Ltd. (CBDC) (collectively the Joint Venture) that was previously announced on January 7, 2019 with the intention of acquiring hemp biomass for extraction into CBD isolate using purpose-built facilities for large scale CBD extraction.

The company announced that Invictus has received approval from its Board of Directors to enter into the Joint Venture with the company and CBDC. Once the transaction is closed the Joint Venture will mark the Company's entry into the CBD market in the United States. This is another step towards building a long-term partnership with CannAmerica and CBDC to grow Invictus beyond Canada's borders and into the burgeoning CBD market in the US.