GCAC to Pursue Cannabis Joint Venture to Establish Distribution and Cultivation Hub in Portugal


Vancouver, British Columbia, Canada, August
14, 2019
 – Global Cannabis Applications Corp. (“GCAC” or the
), a leading developer of innovative data and AI
technologies for the medical cannabis industry, is
pleased to announce it has signed a Letter of Intent (the “LOI”) with Porto
Group Global (“Porto Group”), a Portugal based private
company with offices in Israel, (or together the “Parties”) whereby GCAC and
Porto Group shall enter into a joint 
venture to establish a cannabis cultivation and distribution company in
Portugal for the European Union (EU) marketplace.

Group’s Israeli founders are accomplished capital market, real estate and
business development experts with strong relationships with leading local
market participants, municipalities and institutional investors in Portugal.

EU is one of the fastest growing and single largest cannabis marketplaces in
the world and we are pursuing this joint venture to establish a strategic hub
in Portugal,” said Brad Moore, CEO of GCAC. “We are working closely with Porto
Group to establish a joint venture company with the ability to capitalize on
the growing medical cannabis sector in Portugal and distribution to the rest of
the EU. As per our commitment to becoming a fully integrated cannabis company,
the joint venture will combine our patient centric approach and technology with
the best minds in cultivation and distribution along with local Portugal
expertise to ensure the best outcomes for medical cannabis patients.”

The LOI contemplates a
joint venture owned 49% by GCAC and 51% by Porto Group. Furthermore, the Parties
agree to work together to raise or invest a total of C$7,500,000 in a series of
financings through GCAC, Porto Group and selected partners.  The cannabis cultivation and distribution operating
company will be 100% owned by the joint venture.

The Porto Group will
establish the operating entity, that will apply for and obtain the licences
required for the joint venture to cultivate cannabis in Portugal, identify and
acquire operating locations and the development expertise to manage the
building and operation of a cultivation facility.  The cultivation facility is proposed to have
initial minimum capacity of 3,000,000 grams per annum with time to revenue of 24
months or less.

GCAC will contribute its Citizen Green Technology to the joint venture
company, and any associated future technologies related to growing and
distribution of medical cannabis. GCAC will also be responsible to provide medical
cannabis expertise for cultivation and sourcing of raw materials, including
genetics and product licences. In addition, GCAC will be responsible for ongoing
business development, including the identification and execution of acquisition
opportunities, establishing distribution agreements into EU and access to
growth capital to fund expansion and operations.

The Parties agree to work together in good faith to develop business and
financial milestones to be accomplished prior to and as part of the Definitive
Agreement.  Further the Parties agree
that the initial set of milestones should be established no later than 30 days
after the execution of this LOI.

Global Cannabis Applications Corp.

Global Cannabis
Applications Corp. is a global leader in designing, developing, marketing and
acquiring innovative data technologies for the medical cannabis industry. The
Citizen Green platform is the world’s first end-to-end – from patient to
regulator – medical cannabis data solution. It uses six core technologies:
mobile applications, artificial intelligence, regtech, smart databases,
blockchain and digital reward tokens, to qualify candidates for clinical
studies. These technologies facilitate the proliferation of digital
conversations by like-minded people in the medical cannabis community. Managed
by digital and cannabis industry experts, GCAC is focused on viral global
expansion by providing the best digital experience in the cannabis market.

For more information
about the Company, please visit online at www.cannappscorp.com, or review its profiles www.sedar.com and on the Canadian Securities Exchange’s
website (www.thecse.com).

To schedule an
interview, please contact:


Chief Executive Officer
Telephone: 514.561.9091

Email: bmoore@cannappscorp.com

For more information,
please contact:


Email: info@cannappscorp.com

Communications United States

Hayden IR
Telephone: 1.917.658.7878
Email: hart@haydenir.com

Forward-Looking Information

This news release may include forward-looking information
within the meaning of Canadian securities legislation, concerning the business
of GCAC. Forward-looking information is based on certain key expectations and
assumptions made by the management of GCAC. Although management of the Company
believes that the expectations and assumptions on which such forward-looking
information is based are reasonable, undue reliance should not be placed on the
forward-looking information because GCAC can give no assurance that they will
prove to be correct. Forward-looking statements contained in this news release
are made as of the date of this news release. GCAC disclaims any intent or
obligation to update publicly any forward-looking information, whether as a
result of new information, future events or results or otherwise, other than as
required by applicable securities laws.

The Canadian Securities Exchange has not reviewed and
does not accept responsibility for the adequacy and accuracy of this

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