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Vancouver, BC, Canada, December 17, 2021. Xebra Brands Ltd. (“Xebra”) (XBRA: CSE) (XBRAF: OTC) (9YC: FSE), a cannabis company, reports on its activities in Mexico.

Xebra’s wholly owned Mexican subsidiary, Desart MX, SA de CV (“Xebra México”), has received an injunction from the Mexican Supreme Court of Justice, giving it a clear first-mover advantage in the Mexican CBD and CBG market. The Federal Health Commission (COFEPRIS) will issue official licenses in due course.

The Supreme Court’s decision is irrevocable and non-appealable. Mexico is on track to fully legalize cannabis, likely in 2022; however, Xebra’s injunction is not contingent on legalization. In fact, the longer Mexico waits to legalize, the greater Xebra’s first-mover advantage. Once the Mexican Congress adopts a legal framework, it could take up to three years before any entity (except Xebra) can begin any cannabis-related commercial activity, due to the lengthy approval process to which applicants will be subject. This lengthy process has occurred in Canada, Colombia, and other countries, and is likely to be repeated in Mexico as well. The Mexican Senate and Chamber of Deputies are expected to continue debating a cannabis bill in February 2022; however, it appears the debate could be protracted.

Xebra is moving quickly to leverage its first-mover advantage. Discussions are underway to secure up to 300 hectares of land suitable for cultivation, and several Canadian and US companies with experience in cannabis processing and extraction have expressed interest in partnering in Mexico. Manufacturing joint venture opportunities with established Mexican companies have been identified, and distribution channels are being explored. Xebra Mexico’s injunction applies specifically to the industrial cannabis sector, and explicitly to cannabis with low THC levels (less than 1%), therefore, in practice, to the cultivation and processing of hemp, as well as to the manufacturing and sale of primarily CBD and CBG products, such as tinctures, oils, topicals, edibles, beverages, concentrates, distillates, emulsions, and biomass, among others, and to certain uses of cannabis flower.

Xebra believes Mexico has the potential to become one of the largest cannabis consumer markets in the world in the short term. Mexico is also located within the North American Free Trade Area (USMCA), which gives it considerable cultivation and manufacturing cost advantages over Canada and the United States. Xebra believes there is sufficient precedent with numerous agricultural crops and manufactured products to suggest that the majority of industrial cannabis production in North America may ultimately occur in Mexico.

More information about Xebra’s plans in Mexico will be provided soon.

ON BEHALF OF THE BOARD OF DIRECTORS:

Rodrigo Gallardo
President

For more information, contact:

+1 (604) 418-6560

Xebra Brands Ltd. All Rights Reserved.

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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.