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Shi Farms agreement with Canibola seems to be terminated

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mike2080   Wednesday, 10/07/20 12:50:45 PM
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Shi Farms agreement with Canibola seems to be terminated

On July 29, 2020, ICNB entered into an agreement whereby ICNB agreed to exchange its CANB Shares for CANB’s 1,000,000 ICNB’s shares.



Through GGFI, the Company grows its own hemp in New York and partners with third party growers in other states whereby GGFI provides the farmers with seed and training and splits profits with the farmers. GGFI supplies the Company with all hemp needed for the company to produce its CBD products, which hemp is processed by a third party and shipped to the Company’s production facility in Lacey, WA. The Company is currently exploring ways for it to run its own extraction facility, completely cutting out middlemen (note that the Company had entered into a jount venture agreement with NY – SHI, LLC, a New York limited liability company (“NY – SHI”), EWSD I LLC dba SHI Farms, a Delaware limited liability company (“SHI Farms”) to aggregate and process hemp biomass; however, SHI Farms breached and was unable to perform under the agreement- the Company is in the process of trying to recoup the shares issued to SHI Farms).

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