VANCOUVER, British Columbia, April 24, 2019 (GLOBE NEWSWIRE) -- Integrated Cannabis Company, Inc. (CSE: ICAN, OTCQB: ICNAF) (“Integrated Cannabis” or the “Company”), is pleased to announce a non-brokered placement of up to 20,000,000 units (the “Units”) at a price of $0.25 per Unit for gross proceeds of up to $5,000,000 (the “Offering”). Each Unit will consist of one common share in the capital of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall be exercisable to acquire one additional Share at a price of $0.375 for a period of two years from the date of issuance. In the event that the Shares trade at a closing price of greater than $0.50 per Share for ten (10) consecutive trading days, the Company may accelerate the expiry date of the Warrants to expire on the 30th day after the date on which such notice is given.

In connection with the Offering, the Company may pay a finder’s fee within the amount permitted by the policies of the Canadian Securities Exchange (the “Exchange”).

Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange.  All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation and will also be subject to a voluntary hold period of six months from the date of issuance.  The Offering is not subject to a minimum aggregate amount of subscriptions.  The net proceeds from the Offering will be used for general corporate purposes.

About Integrated Cannabis Company

Integrated Cannabis Company, Inc. is comprised of dedicated scientists and product engineers who are passionate about health and creating health and lifestyle products utilizing advanced delivery systems and formulations. For more information, please visit the company’s website at: www.x-sprays.com.

ON BEHALF OF THE BOARD

“Eugene Beukman”

Director

For further information, please contact the Company at:
Email: integratedcannabis@gmail.com

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The CSE has neither approved nor disapproved the information contained herein.

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.