MedReleaf Corp. Announces Distribution Agreement with CannaKorp Inc.

First Licenced Producer to bring innovative vaporizing technology to Canada

MARKHAM, ON, July 17, 2017 /CNW/ - MedReleaf Corp. (TSX: LEAF), North America's first and only ISO 9001 and ICH-GMP certified producer of cannabis-based pharmaceutical products, today announced a multi-year licensing and distribution agreement with Massachusetts-based CannaKorp Inc. ("CannaKorp"), makers of the world's first single-use, pod-based cannabis vaporizing system, the CannaCloud™.

The CannaCloud is a pod-based cannabis vaporizing system that uses precisely measured, sealed and tested CannaCloud Pods ("cPods") containing dried, ground cannabis flower that will be produced and packaged by MedReleaf in Canada. The CannaCloud gives cannabis users the predictability and assurance to know what they are inhaling every time, without the hassle of grinding, measuring, and packing traditional vaporization consumption devices. 

"We are proud to partner with technology leaders like CannaKorp to be the first licensed producer in Canada to offer this innovative cannabis vapor delivery system", said Neil Closner, Chief Executive Officer of MedReleaf. "For those medical cannabis patients who prefer inhalation, CannaCloud presents a proven method of delivery with unique bioavailability benefits and avoids the health concerns associated with the combustion of cannabis. This agreement underscores MedReleaf's uniqueness in the marketplace and commitment to a patient-centric business model; providing a consistent, high quality, and healthy experience for our patients."

The CannaCloud vaporizer and the CannaCloud Pods - produced exclusively by MedReleaf and offered in a variety of unique strains and blends - will be available to patients on their online store pending regulatory approval. As part of the agreement, MedReleaf will fill, package, and distribute cPods.

"We carefully select our partners who share our vision and high standards so we are able to deliver patients an easy to use, predictable, and overall great experience," stated James Winokur, CannaKorp CEO and Co-Founder. "With their tremendous attention to quality assurance, MedReleaf represents exactly the kind of partner we've dreamed of to bring the first CannaKorp products to the Canadian market."

About MedReleaf Corp.

MedReleaf sets The Medical Grade Standard^™ for cannabis in Canada and around the world.  The first and only ICH-GMP and ISO 9001 certified producer of cannabis-based pharmaceutical products in North America, MedReleaf is a R&D-driven company dedicated to patient care, scientific innovation, research and advancing the understanding of the therapeutic benefits of cannabis.  Sourced from around the world and perfected in one of two state of the art facilities in Ontario, MedReleaf delivers a variety of premium products to patients seeking safe, consistent and effective medical cannabis.

For more information on MedReleaf, its products, research and how the company is helping patients #livefree, please visit MedReleaf.com or follow @medreleafcanada

About CannaKorp

CannaKorp, Inc. is a Massachusetts-based technology start-up company that is simplifying and improving the experience for cannabis patients, consumers and medical practitioners. CannaKorp has developed the world's first single-use, pod-based vaporizing system, delivering unprecedented quality, convenience and consistency. The complete system includes the ground-breaking vaporizer device, CannaCloud™; single-use, pre-measured and 100% recyclable pods containing ground, lab tested cannabis called CannaCloud Pods™; and an automated processing and filling machine, the CannaMatic™. CannaKorp, Inc. was founded on care and commitment to patients and consumers, and is guided by a philosophy of social and environmental responsibility.

For more information about CannaKorp, please visit CannaKorp.com or follow @CannaKorp

Forward Looking Statements

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation which are based upon MedReleaf's current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy. Forward-looking information include estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact.

Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, MedReleaf does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for MedReleaf to predict all such factors. When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements in MedReleaf's Final Long Form Prospectus dated May 30, 2017 and filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in MedReleaf's Final Long Form Prospectus could cause actual events or results to differ materially from those described in any forward-looking information.

SOURCE MedReleaf Corp.

Dennis Fong, Investor Relations, [email protected], [phone]; Greg James, SVP Sales & Marketing, [email protected], [phone]

Related Links

www.medreleaf.com