Monthly Progress Report (September 2019)

October 7, 2019

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

1. 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.
2. The term “Issuer” includes the Issuer and any of its subsidiaries.
3. 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.

The Issuer is an early-stage international agri-technology company, which has begun the process of 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 InPlanta licence agreement.

            The Issuer announced this month that it 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 prepared to jointly provide 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 prepared to either facilitate the creation of a company or otherwise establish a joint venture for the initial            purpose of conducting evaluation and consultative work to determine the             feasibility of completing such a project. 

 

            AmeriSeed engages in research and development activities as well as           general operations in Chiang Mai, Thailand, and has expertise in the      application of plant genetics, seed production and technology, plant          production, sales and market dynamics.  The company has an extensive         record of successful operations in Thailand and elsewhere with worldwide       sales of seed and plant products. The collaboration of ACC and AmeriSeed             will give the companies access to senior level engineering and technical      teams to foster project development and provide access to significant and        unique technical and associated scientific data, equipment and     infrastructure.  Managements of both parties are confident that this collaboration will result in an increase in options in the greater region             relative to expansion of the hemp-based food, fibre, fuel and foundation       initiatives.

 

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. The recent visit by an officer of the Issuer to Cambodia was well received and it is expected that the Issuer will be making a formal presentation to Cambodian officials relative to potential business expansion prior to year’s end.

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

            The Issuer announced this month that it has entered a Memorandum of             Understanding with the Thai-based AmeriSeed Group .  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 prepared to jointly provide 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 prepared to either facilitate the creation of a company or otherwise establish a joint venture for the initial            purpose of conducting evaluation and consultative work to determine the             feasibility of completing such a project. 

 

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.

 

Not applicable for the month of September.

 

4. Describe and provide details of any products or services that were discontinued. For resource companies, provide details of any drilling, exploration or production programs that have been amended or abandoned.

 

Not applicable for the month of September.

 

5. Describe any new business relationships entered into between the Issuer, the Issuer’s affiliates or third parties including contracts to supply products or services, joint venture agreements and licensing agreements etc. State whether the relationship is with a Related Person of the Issuer and provide details of the relationship.

 

The Issuer announced this month that it has entered a Memorandum of Understanding with the Thai-based AmeriSeed Group. 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 prepared to jointly provide 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 prepared to either facilitate the creation of a company or otherwise establish a joint venture for the initial purpose of             conducting evaluation and consultative work to determine the feasibility of completing such a project. 

The Issuer also continues to solicit interest in the formation of supply and service contracts for potential product development as it perceives opportunities in Cambodia to be developing.  Further, it has initiated discussions with universities and private companies in Thailand, Malaysia, Korea and Indonesia with the intent of expanding its cooperative hemp development activities in these countries.

 

6. Describe the expiry or termination of any contracts or agreements between the Issuer, the Issuer’s affiliates or third parties or cancellation of any financing arrangements that have been previously announced.

 

Not applicable for the month of September. 

 

7. Describe any acquisitions by the Issuer or dispositions of the Issuer’s assets that occurred during the preceding month.  Provide details of the nature of the assets acquired or disposed of and provide details of the consideration paid or payable together with a schedule of payments if applicable, and of any valuation. State how the consideration was determined and whether the acquisition was from or the disposition was to a Related Person of the Issuer and provide details of the relationship.

 

Not applicable for the month of September.

 

8. Describe the acquisition of new customers or loss of customers.

 

Not applicable for the month of September.

 

9. Describe any new developments or effects on intangible products such as brand names, circulation lists, copyrights, franchises, licenses, patents, software, subscription lists and trade-marks.

 

Not applicable for the month of September.

 

10. Report on any employee hirings, terminations or lay-offs with details of anticipated length of lay-offs.

 

Not applicable for the month of September.

 

11. Report on any labour disputes and resolutions of those disputes if applicable.

 

Not applicable for the month of September.

 

12. Describe and provide details of legal proceedings to which the Issuer became a party, including the name of the court or agency, the date instituted, the principal parties to the proceedings, the nature of the claim, the amount claimed, if any, if the proceedings are being contested, and the present status of the proceedings.

 

Not applicable for the month of September. 

 

13. Provide details of any indebtedness incurred or repaid by the Issuer together with the terms of such indebtedness.

 

Not applicable for the month of September.

 

14. Provide details of any securities issued and options or warrants granted.

 

None for Month of September.

 

15. Provide details of any loans to or by Related Persons.

 

Not applicable for the month of September.

 

16. Provide details of any changes in directors, officers or committee members.

 

Not applicable for the month of September.

 

17. Discuss any trends which are likely to impact the Issuer including trends in the Issuer’s market(s) or political/regulatory trends.

 

The global trend towards the legalization of medical and recreational cannabis and the relaxation of hemp laws is expected to continue and should have a positive impact on the Issuer’s business. 

 

Certificate Of Compliance

The undersigned hereby certifies that:

1. The undersigned is a director and/or senior officer of the Issuer and has been duly authorized by a resolution of the board of directors of the Issuer to sign this Certificate of Compliance.
2. As of the date hereof there were is no material information concerning the Issuer which has not been publicly disclosed.
3. The undersigned hereby certifies to CNSX that the Issuer is in compliance with the requirements of applicable securities legislation (as such term is defined in National Instrument 14-101) and all CNSX Requirements (as defined in CNSX Policy 1).
4. All of the information in this Form 7 Monthly Progress Report is true.

Dated            October 7th, 2019

                                                                                                David Pinkman                             
Name of Director or Senior Officer

                                                                                                 “David Pinkman”                            
Signature

 

President and CEO                      
Official Capacity

 

Issuer Details Name of Issuer Asia Cannabis Corp.	For  Month End     September 30, 2019	Date of Report YY/MM/DD   19/10/07
Issuer Address 1404 Memorial Drive NW
City/Province/Postal Code   Calgary, Alberta T2N 3E5	Issuer Fax No.   N/A	Issuer Phone No.   (403) 863-6034
Contact Name   David Pinkman	Contact Position   President and CEO	Contact Telephone No.   (403) 863-6034
Contact Email Address [email protected]	Web Site Address Asiacannabiscorp.com