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  Florida Department of Health Approves CannCure’s Purchase of 60% of the Equity of 3 Boys Farms Including the License to Operate as a... Scythian Biosciences Announces Major Milestone in U.S. Expansion

 

Florida Department of Health Approves CannCure’s Purchase of 60% of the Equity of 3 Boys Farms Including the License to Operate as a Medical Marijuana Treatment Center in Florida

3 Boys Farms Gets Former Incredibles Edibles Master Grower Chris Keller as its Master Grower

Chris, Formerly with Incredibles, One of the Industry’s Leading Vape, Extracts and Wellness Companies, Has Nearly Two Decades of Experience in Greenhouse Architecture, Management and Cultivation. Under Chris’s Cultivation Expertise, Incredibles Became the Most Nationally Awarded, Cannabis Infused Product Company

TORONTO, Oct. 11, 2018 — Scythian Biosciences Corp. (the “Company” or “Scythian”) (CSE:SCYB) (Frankfurt:9SB) (OTC – Nasdaq Intl:SCCYF) today announced the Florida Department of Health, Office of Medical Marijuana Use (“DOH”) has approved the transfer of 60% of the Equity of 3 Boys Farms, LLC. (“3 Boys Farms”) to CannCure Investments Inc. (“CannCure”) including 3 Boys Farms’ license to operate as a Medical Marijuana Treatment Center in Florida. As part of the transaction, the DOH has also approved the initial transfer of the first 60% of equity from 3 Boys Farms to CannCure and the remaining balance of 40% will close as soon as possible, subject to the receipt of all required governmental approvals from the DOH.

“This is a major milestone in the rollout of our U.S. expansion,” said Scythian CEO Brady Cobb. “It’s an important part of the strong presence we are building in the burgeoning U.S. cannabis industry, with Florida representing one of the most coveted markets to be a licensed operator in.”

On July 30, 2018, Scythian announced it had signed an arm’s length letter of intent to acquire CannCure. CannCure is an Ontario corporation in the process of acquiring 3 Boys Farms, an established Florida-based agricultural company with innovative, state-of-the-art facilities and a license to operate as a Medical Marijuana Treatment Center in Florida under Florida Statutes 381.986.

3 Boys Farms is a Florida limited liability company with authorization to cultivate, process and dispense medical cannabis in accordance with Florida state law. The eight-acre operation consists of 40,000 square feet of fully-operational greenhouses, run with 100% harvested rainwater, solar pumps and repurposed high-volume chilled air from the cultivation greenhouses – a true zero-carbon-footprint that was recognized and honoured with the Governor’s Environmental Leadership Award.

The closing of the Company’s acquisition of CannCure will be subject to the receipt of all required governmental approvals, including any approvals mandated by the Florida Department of Health and/or the Office of Medical Marijuana Use, stock exchange approval and the completion of CannCure’s acquisitions of 3 Boys Farms on the terms previously announced on July 30, 2018.

Additionally, the Company is proud to announce 3 Boys Farms has appointed Chris Keller as its master grower. Chris, formerly with Incredibles, one of the industry’s leading vape, extracts and wellness companies, has nearly two decades of experience in greenhouse architecture, management and cultivation. Under Chris’s cultivation expertise, Incredibles became the most nationally awarded, cannabis infused product company.

“3 Boys Farms is thrilled to add Chris’s top tier cultivation mastery to the team,” said Scythian CEO Brady Cobb. “Chris’s expertise in all aspects of cannabis cultivation will strengthen 3 Boys Farms’ already robust team of renowned leaders in the Florida cannabis industry.” Chris’s formal appointment and ability to work at the 3 Boys Farms facility remains subject to the receipt of all required approvals from the DOH.

3 Boys Farms has a strong leadership team in place to complement Scythian’s U.S. operations team. The 3 Boys Farms’ team is anchored by founder Robert Tornello, a renowned U.S.D.A-certified organic fruit and vegetable grower who is also well-established in the medical cannabis marketplace, Chief Scientific Officer Dr. Greg Gerdeman, Ph.D., who is an expert in cannabinoid research and a frequent keynote speaker at conferences on the subject of medical cannabis and Medical Director Dr. Juan Sanchez-Ramos, M.D., Ph.D., a nationally-recognized neurologist and professor at the University of South Florida, among others.

About Scythian Biosciences Corp.

Scythian is an international cannabis company with a focus on legal U.S. states. Its strategic investments and partnerships across cultivation, distribution and retail complement the company’s R&D program with the University of Miami. It is this comprehensive approach that is positioning Scythian as a future frontrunner in the United States medical cannabis industry.

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