Xebra announces that the Mexican Supreme Court has set a date for December 1st to vote on an injunction against Xebra to commercialize cannabis

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VANCOUVER, BC, November 24, 2021 / CNW / – Xebra Brands Ltd. (“Xebra”) (CSE: XBRA) (FWB: 9YC), a cannabis company, announces it was informed that the Mexican Supreme Court was on Wednesday December 1stDecember 2021 to deliberate and vote on a lawsuit by Xebra’s wholly-owned Mexican subsidiary, Desart MX, SA de CV (“DESART MX”), to obtain an injunction that could result in Xebra being the first to position itself will. Advantage in the Mexican cannabidiol (“CBD”) and cannabigerol (“CBG”) market.

Xebra Brands Ltd. logo (CNW Group / Xebra Brands Ltd.)

If an injunction is issued, Xebra could be authorized to operate regardless of when or if Mexico legalizes cannabis, and the injunction would only apply to Xebra.

Xebra believes Mexico has the potential to become one of the largest cannabis consumer markets in the world in the short term after cannabis is legalized. Mexico is also within the North American Free Trade Zone (USMCA), which gives it considerable cost advantages in cultivation and product manufacture Canada and the United States. Xebra believes that there is enough precedent in many agricultural crops and manufactured products to indicate that there is a possibility that ultimately most of North American industrial-scale cannabis production will be in Mexico.

The upcoming hearing is the culmination of a three-year legal strategy contesting the unconstitutionality of Mexico’s cannabis law. The lawsuit successfully passed lower courts and is now on for the Supreme Court. intended December 1st, 2021. The case is listed on the official Supreme Court website (https://www.scjn.gob.mx/primera-sala/listas-para-sesion) under file number 355/2020 and references the wholly-owned Mexican Subsidiary of Xebra, DESART-MX.

DESART MX’s lawsuit filed by DESART MX with the Mexican Supreme Court for a constitutional injunction under Mexican law, if granted, would provide the necessary permits for DESART MX to import cannabis seeds into MexicoTo grow and process low-THC (less than 1%) cannabis and could enable the manufacture and sale of CBD and CBG and related products. In practice, it could enable the commercialization of CBD and CBG made from hemp. Export activities could potentially also be possible.

The story goes on

ON BEHALF OF THE MANAGEMENT BOARD,

Rodrigo Gallardo
president

Certain information in this press release contains forward-looking statements under applicable securities laws. All statements that are not historical facts may be considered forward-looking statements. This includes statements about the expectations of Xebra Brands Ltd. Regarding: the Supreme Court of Mexico Voting to give DESART MX an injunction, or expectations regarding Xebra’s business or otherwise with respect to the outcome of such voting and its timing; the legalization of cannabis and its derivatives in Mexico; the potential for increased industry-wide cannabis production in Mexico and the time of it; Export of cannabis products from Mexico; his ability to successfully implement his business plan or model; its ability to provide economic, environmental, social or other benefits of any kind in the communities in which it operates or will operate in the future; its ability to lead the way in a country or to obtain or retain government licenses, permits, or permits in general or in particular Mexico, Colombia, Canada, the Netherlands, or elsewhere; its ability to successfully apply for and obtain trademarks and other intellectual property in any jurisdiction; its ability to be competitive; its ability to cultivate, grow, or process hemp or cannabis Mexico, Colombia, Canada, the Netherlands, or elsewhere and related plans; financial, operational or other conditions relating to the company’s participation in the Dutch medical cannabis cultivation study; its ability to make cannabis beverages, wellness products, or other products; its ability to commercialize or sell cannabis beverages, wellness products, or other products, in Mexico, Colombia, Canada, the Netherlands, or elsewhere; its ability to commercialize or sell Vicious Citrus Lemonade in any jurisdiction in 2022 or anytime; its ability to commercialize or sell Elements wellness products at any time in any jurisdiction; its ability to manufacture wellness products with therapeutic effects or benefits; Plans for future growth and direction of the company; Financial projections, including expected earnings, gross profits, and EBITDA (a non-GAAP financial measure); plans to increase product volumes, capacity of existing facilities, supplies from third party growers and contractors; expected growth of the cannabis industry in general; Expectations, beliefs and assumptions of management; Events or developments that Xebra expects to occur in the future; general economic conditions; and other risk factors set out in the Company’s prospectus dated September 30, 2021. All statements, other than statements of historical fact, are forward-looking information and statements. The words “aim”, “believe”, “expect”, “anticipate”, “consider”, “aim”, “intend”, “continue”, “plan”, “budget”, “estimate”, “may”, “Will” and similar expressions identify forward-looking information and statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, although believed to be reasonable by Xebra at the date of these statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. These factors include, but are not limited to, Xebra’s inability to generate sufficient income or raise sufficient funds to carry out its business plan; Changes in government legislation, taxation, controls, regulations, and political or economic developments in various countries; Risks associated with farming and growing activities in general, including bad weather, access to seeds, poor crop yields and spoilage; Compliance with the import and export laws of various countries; significant fluctuations in cannabis prices and transportation costs; the risk of obtaining necessary licenses and permits; Inability, for any reason, to identify, negotiate and complete a potential acquisition; the ability to retain key employees; Dependence on third parties for services and deliveries; Non-performance by contracting parties; general economic conditions; the continued growth in global demand for cannabis products and the continued increase in the number of jurisdictions legalizing cannabis; timely receipt of regulatory approval for license applications; and the timing of the Mexican Supreme Court to deliberate and vote on the issuance of an injunction for DESART MX. The above list is non-exhaustive and Xebra undertakes no obligation to update or revise the above information unless required by law. Many of these uncertainties and contingencies could affect Xebra’s actual performance and could cause actual performance to differ materially from any forward-looking statements made by or on behalf of Xebra. Readers are cautioned that forward-looking statements are not guarantees of future performance and that readers should not place undue reliance on such forward-looking statements. There can be no assurance that these statements will prove to be accurate and actual results and future events could differ materially from those contained in these statements.

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