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Press Release

Cannabis Wheaton Income Corp. Announces Completion of Previously Announced Debt Settlement


Posted on: 30 Jan 18

VANCOUVER, British Columbia, Jan. 29, 2018 (GLOBE NEWSWIRE) -- Cannabis Wheaton Income Corp. (d/b/a Wheaton Income) (TSX.V:CBW) ("Cannabis Wheaton" or the "Company") has completed the shares for debt settlement with certain of its creditors that was previously announced in a press release dated November 28, 2017. The Company issued an aggregate of 3,018,109 common shares of the Company to settle an aggregate of CDN$3,064,943 of debt (the "Shares for Debt Settlement").

The common shares issued pursuant to the Shares for Debt Settlement are subject to a statutory four month and one day hold period.

Insiders of the Company were issued an aggregate of 61,250 common shares pursuant to the Shares for Debt Settlement, which constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The Shares for Debt Settlement is exempt from the formal valuation approval requirements of MI 61-101 as none of the securities of the Company are listed on a prescribed stock exchange. The Shares for Debt Settlement is exempt from the minority shareholder approval requirements of MI 61-101 as at the time the Shares for Debt Settlement was agreed to, neither the fair market value of the Shares for Debt Settlement, nor the fair market value of the consideration for, the Shares for Debt Settlement, insofar as it involves interested parties, exceeded 25% of the Company's market capitalization.

ON BEHALF OF THE BOARD

"Chuck Rifici" Chairman & CEO

About Wheaton Income. (TSX.V:CBW)

Wheaton Income is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. Our mandate is to facilitate growth for our partners by providing them with financial support and sharing our collective industry experience. Our partners all have different visions, voices and brand values, and all share a common goal—to build a world-class industry based on ethics, diversity, quality and innovation.

Stay Connected:
For more information about investing in Cannabis Wheaton, please visit: http://www.wheatonincome.com or contact our investor relations team at: 800.980.1314 or IR@wheatonincome.com. Follow up on Twitter @WheatonIncome.

Media Contact:
Sarah Bain, VP External Affairs
Email: sarah@cannabiswheaton.com
Phone: 613.230.5869

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

GlobeNewswire
globenewswire.com

Last updated on: 30/01/2018

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