March 30, 2020 – Calgary, AB: Asia Cannabis Corp. (“ACC” or the “Company”) (CSE:ASIA) announced the following corporate developments today:
On March 13, 2020, ACC announced that it had entered into an agreement with Swysh Inc., an Alberta Research and Development company (“Swysh”) focused on specific cannabinoid-based research and that owns proprietary technology and related intellectual property aimed at providing the basis for creation of systemic and topical treatments for a variety of external and internal conditions and ailments, including a number of anti-viral and preventative health-care applications. This agreement grants a license to ACC to deploy the technology for the purpose of completing further research, development, testing and additional validation and establishment of practical applications with a view to commercialization of the technology in the greater region of Asia.
Today, the Company and Swysh confirm that a patent application has now been filed by agents for Swysh with the United States Patent Office in respect of new and unique Cannabis sativa lines, extracts and methods for their use to inhibit the levels of ACE2 receptor in oral, lung and intestinal epithelial tissues to prevent entry of SARS-CoV-2 and related viruses, to treat the cytokine storm that precedes and underlies acute respiratory distress syndrome in COVID-19 and other diseases, and to affect viral life cycle processes. Extracts of novel hemp lines can be combined with anti-viral agents and anti-inflammatory extracts of turmeric, chamomile, sage, fennel, ginger, rosehip or other herbs, as well as probiotics to increase their efficacy.
Dr. Igor Kovalchuk, a director of ACC and the Chief Executive Officer, director and controlling shareholder of Swysh stated: “Swysh has been actively researching and developing the protocols associated with the creation of these new Cannabis sativa lines, extracts and their related applications for some time. It is extremely serendipitous and fortunate that we have been able to make these advances relative to specialized viral treatments at a time when a significant outbreak occurs such as we see in the Covid-19 crisis. We are actively and aggressively moving ahead with further research, and next steps include substantiation of our findings through additional molecular research, including cell lines and viral replicons as well as preparation and submission of application for conducting clinical trials. Through its license agreement with Swysh, we believe the ACC will be in a position to provide key assistance in validating these treatments by utilizing the resources and skills of its academic and business partners in the Asian region.”
ACC is an early stage international Agri-technology company focused on the development, evaluation, testing, application and, ultimately, supply to the market of proprietary organic hybridization technology and certain products derived from that technology. The core approach of the business is centred on the planting, growth and harvesting of new and valuable strains of hemp and related crops in commercial quantities under the terms of license agreements with InPlanta Biotechnologies Inc. and Swysh Inc.
In conjunction with both InPlanta and Swysh, the Company is developing varieties of hemp with superior growth and production characteristics in the various environments found in the licensed territories. With the data and associated knowledge gained from these activities, the Company intends to leverage the technology to develop a portfolio of strategic hemp investments to take advantage of both the changing social climate relative to hemp use and the historic acceptance of the use of these products and their derivatives in certain of the jurisdictions granted under the License Agreements.
For further information, contact:
Chief Executive Officer
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking statements relate, among other things, to: active research and development of the protocols associated with the creation of new Cannabis sativa lines, commencement of testing activities in relation thereto, grant of patent protection in respect of the novel traits identified by Swysh, commercial production of any related products and treatments cased on these developments, and future expansion plans including development of the cultivation, production, industrialization and marketing of hemp-based products for commercial and scientific purposes.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Asian and international medical products market and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of hemp and hemp-related products in Asia and elsewhere; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.