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VANCOUVER, BC,July 2, 2024- Xebra Brands Ltd. (“Xebra” or the “Company”) (CSE:XBRA)(OTCQB:XBRAF)(FSE:9YC0), a developing cannabis company and the only company legally allowed to cultivate, manufacture, operate and sell cannabis with up to 1% THC in Mexico, and ICAN Ventures (“ICAN”) are pleased to announce the next phase in their strategic collaboration, focusing on accelerating the formulation work for Xebra’s Elements brand. This step marks a significant milestone in their joint efforts to bring cutting-edge cannabis products to the Mexican market, leveraging ICAN’s specialized formulation lab, pharmacist team and import licences.

Leveraging ICAN’s Expertise
ICAN’s formulation department is renowned for its state-of-the-art facilities and highly trained team of experts and pharmacists dedicated to developing innovative cannabis formulations for medical patients across Mexico. The department boasts advanced laboratories equipped with the latest technology and a team of scientists, chemists, and physicians with extensive experience in pharmaceutical and nutraceutical product development. ICAN and Xebra have been working over the last year to formulate an expanded line of products for ELEMENTS brand that will meet the highest standards of quality, efficacy, and safety for customers, ahead of Xebra’s product approvals and retail sales.

Innovative Formulation Work
The focus of this collaboration is to harness ICAN’s specialized capabilities to refine and perfect the formulations for Element brand products.

This includes:
1. Precision Formulation: Utilizing advanced techniques to ensure consistent and precise dosages in every product. This involves sophisticated equipment for measuring and mixing ingredients to achieve exact concentrations of active compounds like CBD, ensuring each product delivers a consistent experience.
2. Bioavailability Enhancement: Developing formulations that maximize the absorption and effectiveness of active ingredients. ICAN employs advanced delivery systems such as nanoemulsions and liposomal encapsulation to increase the bioavailability of CBD, ensuring that the active compounds are more easily absorbed by the body and providing faster and more effective relief.
3. Safety and Stability: Conducting rigorous testing to ensure product stability and safety over time. This includes stress testing under various environmental conditions to guarantee that the products maintain their potency and safety throughout their shelf life. ICAN’s laboratories perform comprehensive microbial, heavy metal, and pesticide testing to meet the highest safety standards.
4. Customized Solutions for Strategic Partners & Global Brands: Creating tailored formulations to meet the specific needs and preferences of different consumer segments. This involves developing specialized products for various demographics and use cases, such as:
○ Athletes: Formulating high-CBD products designed to aid in muscle recovery and reduce inflammation, featuring added ingredients like arnica or menthol for enhanced benefits.
○ Relaxation and Sleep: Developing CBD products infused with calming botanicals such as chamomile and lavender to promote relaxation and improve sleep quality.
○ Skincare: Crafting topical CBD formulations enriched with antioxidants and moisturizing agents to target skin issues such as dryness, inflammation, and acne.
○ PetProducts: Designing CBD-infused products for pets, addressing specific conditions such as anxiety, pain, and digestive issues, with flavors appealing to animals.
5. Consumer Experience Optimization: Enhancing the overall consumer experience through thoughtful product design and packaging. This includes easy-to-use delivery methods like tinctures, capsules, and topical creams, as well as clear labeling and dosing instructions to ensure consumers have a seamless and enjoyable experience.

Commitment to Excellence

Rodrigo Gallardo, Interim CEO of Xebra Brands, stated, “Our partnership with ICAN marks a pivotal moment in our journey to deliver exceptional cannabis products to our customers. By leveraging ICAN’s unparalleled expertise in formulation, we are confident that Element brand products will set a new standard in the market.”

ICAN’s CEO, Erick Ponce, added, “We are excited to bring our R&D and formulation capabilities to this collaboration. Our team is dedicated to pushing the boundaries of what’s possible in cannabis product development, and we look forward to delivering outstanding results for Xebra and its consumers.”

Xebra Debt Settlement Xebra also intends to settle debts in the aggregate amount of $220,000 owed by the company to certain creditors of the company in exchange for an aggregate of 2,444,444 common shares at a deemed price of $0.09 per debt settlement share.

Closing of the debt settlement is expected to occur on or before July 8, 2024, subject to any comments from the Canadian Securities Exchange.

About Xebra Brands
Xebra is an International cannabis company focused on the development and sale of cannabis and CBD products in Mexico. Xebra is an absolute first mover in the Mexican cannabis sector, with the first ever granted authorization to a corporation by the COFEPRIS.

About ICAN
Latam ICAN Latam is an international cannabis company with a focus on Latin America and is a regional reference in education, research, and development of cannabis-based medications and products. ICAN was the first, and so far, only company to legally import THC API into Mexico, and is one of the few companies that has the legal ability to import non-psychoactive cannabinoids such as CBD and CBG into the country. With a team of seasoned scientists and state-of-the-art facilities, ICAN is dedicated to advancing the science of cannabis and delivering innovative solutions to the market.

For more information, please contact:

ICAN Latam Media Relations
Email: [email protected]
Website: [www.ican.mx](http://www.ican.mx)

ON BEHALF OF THE BOARD:
Rodrigo Gallardo
Interim CEO

For more information contact: 1(888) XEBRA 88
[email protected]

Xebra Brands Ltd. All Rights Reserved.

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Consult your doctor before consuming cannabis products. Use of cannabis during pregnancy or while breastfeeding may be harmful. Keep cannabis products away from animals and out of the reach of children. Do not operate a vehicle or any kind of machinery after consumption of cannabis. Cannabis is still considered a Schedule 1 Controlled Substance in the United States. Possession, distribution, and cultivation of cannabis is still prohibited under US federal law.

Forward-Looking Statements

To put it simply… we have plans, but plans can change!

Certain information contained on this website, and in related presentations, fact sheets, and videos constitute forward-looking statements under applicable securities laws. Any statements that are not statements of historical fact may be deemed to be forward-looking statements, these include, without limitation, statements regarding Xebra Brands Ltd.’s (“XEBRA” or “XEBRA’S”) expectations in respect of its ability to successfully execute its business plan or business model; its ability to provide economic, environmental, social, or any benefits of any type, in the communities it operates in or may operate it in the future; its ability to be a first mover in a country, or to obtain or retain government licenses, permits or authorizations in general, or specifically in Mexico, Colombia, Canada, the Netherlands, or elsewhere; its ability to raise capital and fund its ongoing operations; its ability to list its shares on a stock exchange or attain a public listing, its ability to successfully apply for and obtain trademarks and other intellectual property in any jurisdiction; its ability to be cost competitive; its ability to cultivate, grow, or process hemp or cannabis in Mexico, Colombia, Canada, the Netherlands, or elsewhere; its ability to manufacture cannabis beverages, wellness products, or other products; its ability to commercialize or sell cannabis beverages, wellness products, or other products, in Mexico, Colombia, Canada, the Netherlands, or elsewhere; its ability to commercialize or to sell Vicious Citrus Lemonade in 2022 or at any time, in any jurisdiction; its ability to commercialize or to sell Elements wellness products in Mexico, in Colombia, or in any jurisdiction in 2022 or at any time; its ability to make cannabis beverages that taste good; its ability to create wellness products that have a therapeutic effect or benefit; plans for future growth and the direction of the business; financial projections including expected revenues, gross profits, costs, capital expenditures and EBITDA (which is a non-GAAP financial measure); plans to increase product volumes, the capacity of existing facilities, supplies from third party growers and contractors; expected growth of the cannabis industry generally; management’s expectations, beliefs and assumptions; events or developments that XEBRA expects to take place in the future; and general economic conditions. All statements, other than statements of historical facts, are forward-looking information and statements. The words “aim”, “believe”, “expect”, “anticipate”, “contemplate”, “target”, “intends”, “continue”, “plans”, “budget”, “estimate”, “may”, “will”, “projected”, and similar expressions identify forward-looking information and statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by XEBRA as of the dates of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to, the inability of XEBRA to generate sufficient revenues or to raise sufficient funds to carry out its business plan; the inability of Xebra to list its shares for trading on a stock exchange; changes in government legislation, taxation, controls, regulations and political or economic developments in various countries; risks associated with agriculture and cultivation activities generally, including inclement weather, access to supply of seeds, poor crop yields, and spoilage; compliance with import and export laws of various countries; significant fluctuations in cannabis prices and transportation costs; the risk of obtaining necessary licenses and permits; inability to identify, negotiate and complete a potential acquisition for any reason; the ability to retain key employees; dependence on third parties for services and supplies; non-performance by contractual counter-parties; general economic conditions; and the continued growth in global demand for cannabis products and the continued increase in jurisdictions legalizing cannabis; and the timely receipt of regulatory approval for license applications. The foregoing list is not exhaustive and XEBRA undertakes no obligation to update or revise any of the foregoing except as required by law. Many of these uncertainties and contingencies could affect XEBRA’s actual performance and cause its actual performance to differ materially from what has been expressed or implied in any forward-looking statements made by, or on behalf of, XEBRA. Readers are cautioned that forward-looking statements are not guarantees of future performance and readers should not place undue reliance on such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those set out in such statements.