Filings

Monthly Progress Report (December 2019)

January 3, 2020

FORM 7

MONTHLY PROGRESS REPORT

Name of CNSX Issuer: Asia Cannabis Corp. (the “Issuer”).

Trading Symbol: ASIA

Number of Outstanding Listed Securities: 36,247,100

This Monthly Progress Report must be posted before the opening of trading on the fifth trading day of each month. This report is not intended to replace the Issuer’s obligation to separately report material information forthwith upon the information becoming known to management or to post the forms required by the CNSX Policies. If material information became known and was reported during the preceding month to which this report relates, this report should refer to the material information, the news release date and the posting date on the CNSX.ca website.

This report is intended to keep investors and the market informed of the Issuer’s ongoing business and management activities that occurred during the preceding month. Do not discuss goals or future plans unless they have crystallized to the point that they are "material information" as defined in the CNSX Policies. The discussion in this report must be factual, balanced and non-promotional.

General Instructions

(a) Prepare this Monthly Progress Report using the format set out below. The sequence of questions must not be altered nor should questions be omitted or left unanswered. The answers to the items must be in narrative form. State when the answer to any item is negative or not applicable to the Issuer. The title to each item must precede the answer.

(b) The term “Issuer” includes the Issuer and any of its subsidiaries.

(c) Terms used and not defined in this form are defined or interpreted in Policy 1 – Interpretation and General Provisions.

Report on Business

1. Provide a general overview and discussion of the development of the Issuer’s business and operations over the previous month. Where the Issuer was inactive disclose this fact.

The Issuer is listed as a hemp research and development company on the Canadian Securities Exchange under the trading symbol “ASIA”. The Issuer is in the process of establishing and implementing an R&D program in Cambodia and has begun expanding its business operations to Thailand and other countries in the region.

The Issuer is an early-stage international agri-technology company, which is creating a business focused on the development, evaluation, testing, application and, ultimately, supply to the market of proprietary organic hybridization technology and certain products derived from that technology. The core approach of the business will be centred on the planting, growth and harvesting of new and valuable strains of hemp and related crops in commercial quantities under the terms of the licence agreement with InPlanta Biotechnologies Inc.

The Issuer has entered a Memorandum of Understanding with the Thai-based AmeriSeed Group (“AmeriSeed”). The purpose of this agreement is to allow ACC and AmeriSeed to collaborate in the pursuit and execution of a business development plan tied to the evaluation and implementation of seed and plant production techniques relating to hemp and other plants with medicinal, practical or other benefits. The parties are now actively engaged in the joint provision of managerial input, equipment, intellectual property and material to facilitate the operational needs of such a project in Thailand or wherever the parties determine is a viable venue for such an operation. As part of the execution of that business plan, ACC and AmeriSeed are in the process of creating a company in Thailand for the initial purpose of conducting evaluation and consultative work to determine the feasibility of completing such a project. Activities based on the terms of this agreement are underway

2. Provide a general overview and discussion of the activities of management.

The Issuer is in the process of establishing and implementing a hemp R&D program in Cambodia with assistance from InPlanta Technologies Inc. A recent visit by an officer of the Issuer to Cambodia was well received and the Issuer will likely be making a formal presentation to Cambodian officials relative to potential business expansion in the first quarter of 2020.

The Issuer has initiated discussions with universities and private companies in Thailand and Malaysia with the intent of expanding its cooperative hemp development activities in these countries.

ACC and AmeriSeed are actively collaborating in the pursuit and execution of a business development plan tied to the evaluation and implementation of seed and plant production techniques relating to hemp and other plants with industrial, practical or other benefits. The parties are jointly providing managerial input, equipment, intellectual property and material to facilitate the operational needs of this project in Thailand or wherever the parties determine is a viable venue for such an operation. As part of the execution of that business plan, ACC and AmeriSeed have created a new company for the initial purpose of conducting evaluation and consultative work to determine the feasibility of completing this project in Thailand.

3. Describe and provide details of any new products or services developed or offered. For resource companies, provide details of new drilling, exploration or production programs and acquisitions of any new properties and attach any mineral or oil and gas or other reports required under Ontario securities law.