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Corporate Update and Early Warning Report Issued Pursuant to National Instrument 62-103

For Immediate Release March 5th , 2020

Calgary, Alberta – Asia Cannabis Corp. (the “Corporation”) (TSXV – “PHL.H”), announces that 1262430 Alberta Ltd., a corporation controlled by Mr. Johannes Kingma, a Director of the Corporation, has purchased 2,100,000 Common Shares of the Corporation through the facilities of the Canadian Stock Exchange (CSE). The Corporation is controlled by Mr. Kingma, and the acquisition of the subject shares represents 5.79% of the outstanding common shares, being 36,247,100. Prior to the purchases, 1262430 Alberta Ltd. owned and controlled 11,175,833 common shares and now holds 13,275,833 common shares, which represents 36.63% of the outstanding common shares of the Corporation.

The securities acquired by 1262430 Alberta Ltd. are held for investment purposes. In the future, it may increase or decrease its respective ownership of securities of the Corporation from time to time depending upon the business and future market conditions.

A copy of the early warning report filed pursuant to Regulation 62-103 may be obtained on SEDAR.

For further information, please contact:
Asia Cannabis Corp.
Mr. Johannes Kingma, Director
919 7A Street NW
Calgary, Alberta T2M 3J4
Phone: (403) 237-0018

CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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