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HPE to Acquire Supercomputing Leader Cray

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Combined Company Will Drive Next Generation of High Performance
Computing

  • Accelerates HPE’s strategy to tackle customers’ most data-intensive
    challenges by combining deep supercomputing talent and cutting-edge
    technologies
  • Establishes the most comprehensive end-to-end portfolio across
    compute, storage, interconnect, software and services in the fast
    growing High Performance Computing and Artificial Intelligence segments
  • Creates opportunity for significant economic upside through enhanced
    growth and profitability

SAN JOSE, Calif. & SEATTLE–(BUSINESS WIRE)–Hewlett Packard Enterprise (NYSE:HPE) and Cray Inc. (Nasdaq: CRAY), a
global supercomputer leader, today announced that the companies have
entered into a definitive agreement under which HPE will acquire Cray
for $35.00 per share in cash, in a transaction valued at approximately
$1.3 billion, net of cash.

“Answers to some of society’s most pressing challenges are buried in
massive amounts of data,” said Antonio Neri, President and CEO, HPE.
“Only by processing and analyzing this data will we be able to unlock
the answers to critical challenges across medicine, climate change,
space and more. Cray is a global technology leader in supercomputing and
shares our deep commitment to innovation. By combining our world-class
teams and technology, we will have the opportunity to drive the next
generation of high performance computing and play an important part in
advancing the way people live and work.”

The Explosion of Data is Driving Strong HPC Growth

The explosion of data from artificial intelligence, machine learning,
and big data analytics and evolving customer needs for data-intensive
workloads are driving a significant expansion in HPC.

Over the next three years the HPC segment of the market and associated
storage and services is expected to grow from approximately $28 billion
in 2018 to approximately $35 billion in 2021, a compound annual growth
rate1 of approximately 9 percent. Exascale is a growing
segment of overall HPC opportunities and more than $4 billion of
Exascale opportunities are expected to be awarded over the next five
years.

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Addressing complex challenges and advancing critical academic research,
including predicting future weather patterns, delivering breakthrough
medical discoveries, and preventing cyber-attacks, requires significant
computational capabilities, up to and through Exascale level
architecture. Exascale capable systems enable solutions to these
problems with much greater precision and insight.

“This is an amazing opportunity to bring together Cray’s leading-edge
technology and HPE’s wide reach and deep product portfolio, providing
customers of all sizes with integrated solutions and unique
supercomputing technology to address the full spectrum of their
data-intensive needs,” said Peter Ungaro, President and CEO of Cray.
“HPE and Cray share a commitment to customer-centric innovation and a
vision to create the global leader for the future of high performance
computing and AI. On behalf of the Cray Board of Directors, we are
pleased to have reached an agreement that we believe maximizes value and
are excited for the opportunities that this unique combination will
create for both our employees and our customers.”

Cray is a Leading Innovator in Supercomputer Solutions

Cray is the premier provider of high-end supercomputing solutions that
address customers’ most challenging, data-intensive workloads for making
critical decisions. Cray has a leadership position in the top 100
supercomputer installations around the globe. With a history tying back
to Cray Research, which was founded in 1972, Cray is headquartered in
Seattle, Washington, with US-based manufacturing, and approximately
1,300 employees worldwide. The company delivered revenue of $456 million
in its most recent fiscal year, up 16 percent year over year.

Cray’s supercomputing systems, delivered through their current
generation XC and CS platforms, and next-generation Shasta series
platform, have the ability to handle massive data sets, converged
modeling, simulation, AI, and analytics workloads. In addition to
supercomputers, they offer high-performance storage, low-latency high
performance HPC interconnects, a full HPC system software stack and
programming environment, data analytics, and AI solutions – all
currently delivered through integrated systems.

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Cray recently announced an Exascale supercomputer contract for over $600
million for the U.S. Department of Energy’s Oak Ridge National
Laboratory. The system, which is targeted to be the world’s fastest
system, will enable groundbreaking research and AI at unprecedented
scale, using Cray’s new Shasta system architecture and Slingshot
interconnect. The company was also part of an award with Intel for the
first U.S. Exascale contract from the U.S. Department of Energy’s
Argonne National Laboratory, with Cray’s portion of the contract valued
at over $100 million.

Cray Strengthens and Expands HPE’s High Performance Computing
Portfolio

High performance computing is a key component of HPE’s vision and growth
strategy and the company currently offers world-class HPC solutions,
including HPE Apollo and SGI, to customers worldwide. This portfolio
will be further strengthened by leveraging Cray’s foundational
technologies and adding complementary solutions. The combined company
will also reach a broader set of end markets, offering enterprise,
academic and government customers a broad range of solutions and deep
expertise to solve their most complex problems. Together, HPE and Cray
will have enhanced opportunities for growth and the integrated platform,
scale and resources to lead the Exascale era of high performance
computing.

The combination of HPE and Cray is expected to deliver significant
customer benefits including:

  • Future HPC-as-a-Service and AI / ML analytics through HPE GreenLake
  • A comprehensive end-to-end portfolio of HPC infrastructure – compute,
    high-performance storage, system interconnects, software and services
    supplementing existing HPE capabilities to address the full spectrum
    of customers’ data-intensive needs
  • Differentiated next-generation technology addressing data intensive
    workloads
  • Increased innovation and technological leadership from leveraging
    greater scale, combined talent and expanded technology capabilities
  • Enhanced supply chain capabilities leveraging US-based manufacturing

Significant Economic Upside Expected to be Realized from the
Combination

Bringing together HPE and Cray enables an enhanced financial profile for
the combined company that includes several revenue growth opportunities
and cost synergies.

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The companies expect the combination to drive significant revenue growth
opportunities by:

  • Capitalizing on the growing HPC segment of the market and Exascale
    opportunities
  • Enhancing HPE’s customer base with a complementary footprint in
    federal business and academia and the company’s ability to accelerate
    commercial supercomputing adoption
  • Introducing new offerings in AI / ML and HPC-as-a-service with HPE
    GreenLake

We also expect to deliver significant cost synergies through
efficiencies and by leveraging proprietary Cray technology, like the
Slingshot interconnect, to lower costs and improve product performance.

Transaction Details

As a result of the enhanced financial profiles of the combined
companies, the deal is expected to be accretive to HPE non-GAAP
operating profit and earnings in the first full year following the close.

As part of the transaction, HPE expects to incur one-time integration
costs that will be absorbed within HPE’s FY20 free cash flow outlook of
$1.9B to $2.1B that remains unchanged.

The transaction is expected to close by the first quarter of HPE’s
fiscal year 2020, subject to regulatory approvals and other customary
closing conditions.

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Investment Community Conference Call

HPE will conduct a live audio webcast of its conference call to discuss
HPE’s acquisition of Cray. The call is scheduled for Friday, May 17th,
at 8:30 a.m. ET / 5:30 a.m. PT, and the webcast will be available at www.hpe.com/investor/2019Q2HPETOACQUIRECRAY

HPE Q2 FY19 Earnings Announcement

As a reminder, Hewlett Packard Enterprise (NYSE: HPE) will conduct a
live audio webcast of its conference call to review its financial
results for the second quarter of fiscal 2019, which ended April 30,
2019.

The call is scheduled for Thursday, May 23, at 4:30 p.m. ET / 1:30 p.m.
PT, and the webcast will be available at www.hpe.com/investor/2019Q2Webcast.

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About Hewlett Packard Enterprise

Hewlett Packard Enterprise is a global technology leader focused on
developing intelligent solutions that allow customers to capture,
analyze and act upon data seamlessly from edge to cloud. HPE enables
customers to accelerate business outcomes by driving new business
models, creating new customer and employee experiences, and increasing
operational efficiency today and into the future.

About Cray

Cray Inc. (Nasdaq:CRAY) combines computation and creativity so
visionaries can keep asking questions that challenge the limits of
possibility. Drawing on more than 45 years of experience, Cray develops
the world’s most advanced supercomputers, pushing the boundaries of
performance, efficiency and scalability. Cray continues to innovate
today at the convergence of data and discovery, offering a comprehensive
portfolio of supercomputers, high-performance storage, data analytics
and artificial intelligence solutions. Go to www.Cray.com
for more information.

Additional Information and Where to Find It

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In connection with the proposed transaction, Cray will file relevant
materials with the SEC, including a preliminary and definitive proxy
statement. Promptly after filing the definitive proxy statement, Cray
will mail the definitive proxy statement and a proxy card to the
shareholders of Cray. CRAY SHAREHOLDERS ARE URGED TO READ THE DEFINITIVE
PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO)
CAREFULLY WHEN IT BECOMES AVAILABLE BEFORE MAKING ANY VOTING OR
INVESTMENT DECISION WITH RESPECT TO THE PROPOSED TRANSACTION BECAUSE IT
WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND
THE PARTIES TO THE PROPOSED TRANSACTION. Shareholders of Cray will be
able to obtain a free copy of these documents, when they become
available, at the website maintained by the SEC at www.sec.gov
or free of charge at www.cray.com.

Additionally, Cray will file other relevant materials in connection with
the proposed acquisition of Cray by HPE pursuant to the terms of an
Agreement and Plan of Merger by and among, HPE, Cray Merger Sub, Inc., a
wholly owned subsidiary of HPE, and Cray. Cray and its directors,
executive officers and other members of its management and employees,
under SEC rules, may be deemed to be participants in the solicitation of
proxies of Cray shareholders in connection with the proposed
transaction. Information concerning the interests of Cray’s participants
in the solicitation, which may, in some cases, be different than those
of Cray’s shareholders generally, are available in Cray’s proxy
statement for its 2019 annual meeting of shareholders, which was filed
with the SEC on April 18, 2019. To the extent holdings of securities by
Cray’s directors or executive officers have changed since the amounts
disclosed Cray’s respective proxy statement, such changes have been or
will be reflected on Statements of Change in Ownership on Form 4 filed
with the SEC. Additional information regarding these persons and their
interests in the proposed transaction will be set forth in the
definitive proxy statement relating to the proposed transaction when it
becomes available. These documents are available free of charge at the
SEC’s web site at www.sec.gov
or by going to Cray’s website at www.cray.com.

Forward-looking Statements

This document contains forward-looking statements within the meaning of
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Such statements involve risks, uncertainties and
assumptions. If such risks or uncertainties materialize or such
assumptions prove incorrect, the results of HPE and its consolidated
subsidiaries or of Cray could differ materially from those expressed or
implied by such forward-looking statements and assumptions. All
statements other than statements of historical fact are statements that
could be deemed forward-looking statements, including, but not limited
to, any statements regarding the expected benefits and costs of the
transaction contemplated by this document; the expected timing of the
completion of the transaction; the ability of HPE, its subsidiaries and
Cray to complete the transaction considering the various conditions to
the transaction, some of which are outside the parties’ control,
including those conditions related to regulatory approvals; projections
of revenue, expenses, net earnings, operating profit, cash flows, or
other financial items; the expectation of the combined company having
the opportunity to drive the next generation of high performance
computing and play an important part in advancing the way people live
and work; the expected size of the HPC segment of the market and
associated storage and services in 2021; the opportunity to bring
together Cray and HPE to provide customers unique supercomputing
technology; the belief that the agreement maximizes Cray’s value for its
shareholders and the unique combination’s opportunities for both
employees and customers; the expected strengthening of HPE’s portfolio
by leveraging Cray’s solutions; the expectations relating to the
combined company’s reach to a broader set of end markets; the
expectations relating to the combined company’s enhanced opportunities
for growth and the integrated platform to lead the Exascale era of high
performance computing; the expectation that the combined company will
deliver significant customer benefits; the expectation that significant
economic upside will be realized from the combination; the expectation
that the combined company’s enhanced financial profile; the expectation
that the combined company will drive significant revenue growth
opportunities; statements regarding the delivery of significant cost
synergies to lower costs and improve product performance; the
expectation that the transaction will be accretive to HPE non-GAAP
operating profit and earnings in the first full fiscal year following
close; HPE’s expectation to incur one-time integration costs that will
be absorbed into HPE’s FY20 free cash flow outlook of $1.9B to $2.1B
that remains unchanged; the expected closing timing; any statements
concerning the expected development, performance, market share or
competitive performance relating to products or services; any statements
regarding current or future macroeconomic trends or events and the
impact of those trends and events on HPE or Cray and such companies’
financial performance; any statements of expectation or belief; and any
statements of assumptions underlying any of the foregoing. Risks,
uncertainties and assumptions include the possibility that expected
benefits may not materialize as expected; that the integration of the
acquisition post-closing may not occur as anticipated, and the combined
companies’ ability to achieve the growth prospects and synergies
expected from the transaction, as well as delays, challenges and
expenses associated with integrating the combined companies’ existing
businesses may incur; that the transaction may not be timely completed,
if at all; that, prior to the completion of the transaction, Cray’s
business may not perform as expected due to transaction-related
uncertainty or other factors; the effect of the announcement or pendency
of the transaction on Cray’s business relationships, operating results,
and business generally; that the parties are unable to successfully
implement integration strategies; the need to address the many
challenges facing Cray’s and HPE’s businesses; the competitive pressures
faced by the businesses; risks associated with executing strategy; the
impact of macroeconomic and geopolitical trends and events; the
development and transition of new products and services and the
enhancement of existing products and services to meet customer needs and
respond to emerging technological trends and other risks that are
described in the SEC reports of HPE and Cray, including but not limited
to the risks described in HPE’s Annual Report on Form 10-K for its
fiscal year ended October 31, 2018, and subsequent quarterly reports on
Form 10-Q, Cray’s Annual Report on Form 10-K for its fiscal year ended
December 31, 2018 and subsequent quarterly reports on Form 10-Q, and
that are otherwise described or updated from time to time in other
filings with the SEC. HPE and Cray assume no obligation and do not
intend to update these forward-looking statements.

1 Source: Market data as of October 5, 2018

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Contacts

HPE

Editorial contact
[email protected]
Kate
Holderness, HPE

Investor Relations contact
[email protected]
Andrew
Simanek, HPE

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Cray

Editorial contact
[email protected]
415/306-6199
Diana
Brodskiy, Bhava Communications for Cray

Investor Relations contact
[email protected]
206/701-2044
Paul
Hiemstra, Cray


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Cannabis

Rodedawg (OTC: RWGI) Launches TikTok Shop to Expand into Global E-Commerce Market

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Billion

Industrial Hemp Market Soars from $6.6 Billion to $25.7 Billion by 2034, Fueled by Sustainable Innovation

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industrial-hemp-market-soars-from-$66-billion-to-$25.7-billion-by-2034,-fueled-by-sustainable-innovation

Industrial Hemp Playing Key Role in Carbon Sequestration and Soil Remediation Aligning with Sustainable Farming Practices

ROCKVILLE, Md., June 12, 2024 /PRNewswire/ — Based on a new research report by Fact.MR, worldwide sales of Industrial Hemp Market are estimated to reach US$ 6.6 billion in 2024. By 2034, this market is anticipated to skyrocket to a staggering US$ 25.7 billion, driven by a steady CAGR of 14.5% from 2024 onward.

Demand for industrial hemp is skyrocketing as more and more industries recognize its versatile and sustainable properties. Once overlooked, this remarkable crop is now being embraced for its myriad uses across various sectors. From textiles and construction materials to biofuels and nutritional supplements, hemp’s applications are seemingly endless.

Environmentally conscious consumers are driving much of this demand, as hemp requires minimal pesticides and herbicides, making it an eco-friendly choice for sustainable farming. Its ability to sequester carbon dioxide and remediate contaminated soil further adds to its appeal. Moreover, hemp’s durability, lightweight nature, and renewable qualities make it an attractive alternative to traditional materials in manufacturing.

Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=3989

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As awareness of hemp’s benefits continues to spread, industries are investing in research and development to unlock its full potential. With its multi-faceted applications and sustainable credentials, industrial hemp is poised to become a cornerstone of the green economy, meeting the growing demand for environmentally responsible products and practices.

Key Takeaways from the Market Study:

  • Based on nature, sales of organic hemp are estimated to reach a valuation of $3.2 billion in 2024.
  • The market in Mexico is evaluated to expand at a CAGR of 13.6% from 2024 to 2034.
  • Revenue from sales of industrial hemp in East Asia is projected to reach $5.9 billion by the end of 2034.
  • The South Korean market is evaluated to reach a valuation of $1.4 billion by the end of 2034.
  • North America is analyzed to hold a global market share of 24.3% by 2034.

“Use of industrial hemp in textiles, medicines, and food, coupled with global sustainability trends, is creating opportunities for suppliers. Governments worldwide are collaborating to boost global hemp distribution,” says a Fact.MR analyst.

Increasing Awareness of Therapeutic Potential of Hemp in Medical Applications

Once relegated to the fringes, industrial hemp is rapidly emerging as a sustainable wonder crop, fueling a wave of cutting-edge innovations across diverse industries. As researchers and entrepreneurs unlock its vast potential, hemp is proving to be a versatile and eco-friendly resource, paving the way for exciting new products and applications.

The automotive industry is also exploring the use of hemp fibers as a reinforcement material for lighter, stronger, and more sustainable car parts. These natural fiber composites could reduce vehicle weight, improving fuel efficiency and reducing emissions.

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In the field of biotechnology, scientists are harnessing the unique properties of hemp to develop innovative products. For instance, researchers are exploring the use of hemp-derived compounds, such as cannabidiol (CBD), for their potential therapeutic applications in various medical conditions.

Japan’s Industrial Hemp Market Poised for Rapid Growth

The industrial hemp market in Japan is projected to grow at a compound annual growth rate (CAGR) of 15.1% from 2024 to 2034, with the country expected to hold a 29.4% market share by the end of the period.

Increased investment in research is crucial for unlocking the full potential of industrial hemp. Research efforts may focus on improving hemp genetics for higher yield and quality, optimizing cultivation practices, and exploring innovative applications such as advanced nanomaterials or pharmaceuticals. This investment fosters innovation and establishes a foundation for the hemp industry’s long-term growth and competitiveness in an ever-evolving market.

Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=3989

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Expanding Opportunities in the United States Industrial Hemp Market

The industrial hemp market in the United States offers abundant opportunities for stakeholders to broaden their product portfolios. Beyond traditional uses like textiles and oils, there is significant potential for hemp-based products to evolve into biodegradable polymers, eco-friendly packaging, and even biofuels. This diversification, a prominent trend in the industrial hemp market, not only targets emerging markets but also positions hemp as a versatile and sustainable resource with applications across various industries.

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the industrial hemp market for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on nature (organic, conventional), product type (fiber, seeds), and end use (food & beverages, consumer textiles, personal products, industrial applications, hemp CBD, supplements, other consumer products), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).

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Check out More Related Studies Published by Fact.MR Research:

Hemp-Based Products Market is expected to reach $1.8 billion in 2023 and jump to a size of $16.2 billion by 2033.

Cannabis Infused Drinks Market is predicted to race ahead and end up at US$ 8.7 billion by 2032.

Ready-to-use Therapeutic Food Market to surge from $459.9M in 2024 to $800.6M by 2034, driven by 5.7% CAGR, marking substantial growth.

Specialty Fat and Oil Market will hit $85.94 billion by 2034 with a 4.6% Annual Growth Rate.

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Baking Ingredient Market is set to reach $41.48 billion by 2034, Driven by 6.5% Annual Growth Rate.

Infant Milk Formula Market: From Growth Spurts to Baby Boom – Projected Surge to $22.35 Billion by 2034.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape. 

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United States
Tel: +1 (628) 251-1583
Sales Team[email protected]
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Innocan

Innocan Pharma Announces Successful Preliminary Safety Evaluation of LPT-CBD in Minipigs

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HERZLIYA, Israel and CALGARY, AB, June 11, 2024 /PRNewswire/ — Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (“Innocan” or the “Company”), a pioneer in the pharmaceutical and biotechnology industries, is pleased to announce the success and conclusion of a preliminary safety evaluation of Innocan’s single injection and sustained-release LPT-CBD conducted on minipigs. The animals demonstrated excellent drug tolerance and did not exhibit any drug-related adverse events.

 

 

Recognized by the FDA as an excellent model for toxicology, small breeds of miniature domestic pigs known as minipigs share strong similarities with humans in crucial aspects such as drug metabolism, skin structure, genetics, and physiological mechanisms. In this preliminary safety study, minipigs received a single subcutaneous injection of LPT-CBD and were closely monitored for pharmacokinetics and basic safety parameters over one month. Encouragingly, the animals all exhibited good drug tolerance and did not manifest any drug-related adverse reactions.

“We are thrilled with these findings, which further underpin the safety profile of LPT-CBD following a single injection,” commented Dr. Eyal Kalo, the R&D Director of Innocan Pharma. “With each new data point collected for LPT-CBD, we make significant strides in our quest to revolutionize patient care through sustained-release therapy. Our efforts to continuously gather data to fully characterize LPT-CBD are paramount in our journey towards its ultimate approval.”

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Professor Chezy Barenholz the CSO of Innocan Pharma added, “These results are immensely gratifying and hold significant promise as they highlight the characteristics of LPT-CBD in a physiological setting similar to humans.”

The study involved administering three ascending doses of LPT-CBD via subcutaneous injection in minipigs, followed by comprehensive monitoring of pharmacokinetics and safety parameters for 28 days. Throughout the study, the minipigs demonstrated excellent drug tolerance, as evidenced by blood clinical parameters whithin normal range, healthy appetite, and normal behavior. These findings are consistent with prior safety evaluations conducted with LPT-CBD on diverse animal models including goats and dogs, affirming the drug’s favorable tolerability profile following both single and repeated use.

Grant of Restricted Share Units                                                                                                 

The Company has granted an aggregate of 290,000 restricted share units (each, an “RSU“) to consultants. Each RSU entitles the recipient to receive one common share of the Company (a “Common Share“) on vesting. A total of 150,000 RSUs vest on May 30, 2024, and 140,000 RSUs vest on September 30, 2024. The RSUs and the underlying Common Shares are subject to a statutory hold period of four months and one day expiring on October 1, 2024.

Innocan also announces that it granted 2,380,000 stock options to employees and consultants to the Company. These options have a strike price of $0.28, with various vesting periods up to 12 months. All options expire on May 30, 2029.

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About Innocan Pharma:

Innocan is a pharmaceutical tech company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies comprises with cannabinoids science, to treat various conditions to improve patients’ quality of life. This segment involves two drug delivery technologies: (i) LPT CBD-loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: Epilepsy and Pain Management. In the Consumer Wellness segment, Innocan develops and markets a wide portfolio of innovative and high-performance self-care products to promote a healthier lifestyle. Under this segment Innocan has established a Joint Venture by the name of BI Sky Global Ltd. that focuses developing on advanced targeted online sales. https://innocanpharma.com/

Contact Information:

For Innocan Pharma Corporation:
Iris Bincovich, CEO
+1 5162104025
+972-54-3012842
+442037699377
[email protected] 

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Caution Regarding Forward-Looking Information

Certain information set forth in this news release, including, without limitation, the Company’s plans for human trials of its LPT-CBD platform, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan’s control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of production and distribution arrangements.

Forward-looking information is subject to various risks and uncertainties that could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: global and local (national) economic, political, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and potential disruption of relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import/export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner). The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release. A comprehensive discussion of other risks that impact Innocan can be found in Innocan’s public reports and filings which are available under Innocan’s profile at www.sedarplus.ca.

Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.

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