AgriCann Solutions Terminates Letter of Intent

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Vancouver, British Columbia--(Newsfile Corp. - January 17, 2020) - AgriCann Solutions Corp. (the "Company", "AgriCann" or "ASC") has terminated its Letter of Intent ("LOI") dated December 29, 2019 with CannaHoldCo, Inc. ("CHC") in connection with the proposed sub-distribution agreement between CHC and ASC (the "Proposed Transaction").

The LOI and the Proposed Transaction are subject to a number of condition precedents including, but not limited to, ASC's right to complete "all legal, business and technical due diligence" to ASC's satisfaction. ASC is not satisfied with the legal and business due diligence that it has completed on CHC.

About AgriCann Solutions Corp.

The Company is a "Reporting Issuer" that originated as one of three spinouts upon completion of a statutory plan of arrangement completed by The Valens Company (formerly Valens GroWorks Corp.) on March 12, 2015. The Company seeks to acquire a suitable business opportunity with potential for scalable near-term cash flow and sustainable growth to create shareholder value.

ON BEHALF OF AGRICANN SOLUTIONS CORP.

(signed) "Rob van Santen"
CEO & Director

For further information, please contact:

Robert van Santen, CA, CPA, CMT
Telephone: +1.604.608.1999

Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law. The Company will provide further updates respecting these initiatives as developments occur. There can be no assurance that interests in any or all of these or additional projects being pursued will be acquired, funded and/or commercialized.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51613

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