VANCOUVER, BC / ACCESSWIRE / December 16, 2019 / Endurance Gold Corporation (TSX.V:EDG) (the "Company") is pleased to announce encouraging surface sampling results on the Reliance Gold Property (the "Property"). Sampling efforts were largely focused on the Royal Shear and recent assay results have confirmed encouraging gold results on surface. Highlights of the results include 10 grams per tonne ("gpt") gold over 5 metres ("m") at the Imperial Zone and 4.6 gpt gold over 2 m at the Senator Zone prospects.

On September 12, 2019, the Company announced an option to earn a 100% ownership in the Property which is located 5 kilometers ("km") east of Gold Bridge and 10 km north of the Bralorne-Pioneer Gold Mining Camp which has historically produced over 4 million ounces of gold. The Property was previously explored with trenching and diamond drilling from 1985 through 2008. Gold mineralization is associated with wide zones of alteration within several subparallel north and northwest trending structures. The most explored structure is the Royal Shear which hosts the Diplomat, Senator, Imperial, Crown and Eagle Zones. Historic surface grab and chip sampling results from these zones, together with drilling, indicate a mineralized gold system over at least 750m of strike and 250m vertically that requires a systematic exploration program to evaluate. Based on historic soil sampling and continuing alteration, the Royal Shear Zone remains open and unexplored along strike in both directions indicating potential for extension of the mineralized system by an additional 1,000 m or more.

The gold mineralization is hosted within areas of alteration up to 30 m wide in the Royal Shear. Continuous alteration within the Royal Shear consists of ankerite-sericite-clay altered volcanics encompassing areas of silicification, quartz-stibnite veining, vein stockwork, vein breccia and quartz-feldspar porphyry. Reference samples of various alteration, rock types and interpreted mineralized zones have recently been collected from the Property. Twenty-two of these samples were sent for gold analysis. The best result from the Imperial Zone assayed 10 gpt gold over 5 m (sample reference is RL Imp Area rs) was collected in September 2019 from a road cut as shown on a photo available on the Company website. The total sample weight was 2.11 kilograms (‘kg") consisting of representative chip and grab sampling within a panel extending about 5 m of horizontal length and 1 m height. The deeply weathered outcrop is ankerite-sericite-clay altered volcanic which has been sheared and brecciated in the footwall of the Royal Shear. Weathering of this alteration results in exposure of orange, yellow, brown and rusty gouge with some observed fine-grained black sulphide interpreted to be stibnite. There was no obvious silicification or quartz veining observed in the collected sample. True width of this sampled zone is expected to be narrower than the sampled width, but the horizontal strike of the sample length was approximately perpendicular to the strike of the ankerite altered and sheared volcanic at the Imperial Zone.

The best sample result from the Senator Zone assayed 4.6 gpt gold over 2 m (sample reference is RL rb 4) was collected from a similar road cut about 75 m west-southwest of the previous sample. The total sample weight was 1.01 kg collected from a panel extending over 2 m of horizontal length and 1 m height. At this outcrop, brown to orange weathering ankerite-sericite-clay altered, sheared and brecciated volcanic is also present. At this location, fine grained banded silicification and quartz veining was observed associated with fine grained black sulphide interpreted to be stibnite.

As previously reported, the property was last diamond drilled in 2008. The drill program targeted the Imperial Zone, and returned highlight drill intersection widths of 13.30 gpt gold over 4.20 m (est 1.8m true width), 7.05 gpt gold over 5.06m (est 2.05m true width), 5.70 gpt gold over 12.05m (est 9.5m true width), 5.43 gpt gold over 15.35m (est 10m true width), and 2.16 gpt gold over 12.13m (est 6.5m true width), in five (5) drill holes. The Company recently completed correlation coefficient geostatistics for assay data from the 2008 drilling. This indicates a good correlation between gold and arsenic (r=0.79), a positive correlation between gold and antimony (r=0.56) and a weaker but positive correlation between arsenic and antimony (r=0.27). This suggests that, paragenetically, gold deposition is more closely associated with arsenic than antimony which is similar to the nearby Bralorne-Pioneer Mining Camp. Photos of the drill core and some highlighted samples of mineralized Reliance core are available on the Company website.

A summary figure with these 2019 results, historic sampling and the 2008 drill results for the Reliance Property is available on the company website.

Next Steps

The Company intends to proceed with the Property option and conduct a 2020 exploration program consisting of mapping, rock sampling, channel sampling, and soil sampling. Initially in the new year, as weather permits, the Company intends to restore the high-bank surface road exposures and clear trails at the five zones on the Royal Shear to facilitate chip and channel sampling as well as geological and structural mapping. After permitting, a diamond drilling program will follow in the summer.

Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits.

ENDURANCE GOLD CORPORATION

Robert T. Boyd

FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, info@endurancegold.com
www.endurancegold.com

Robert T. Boyd, P.Geo. is a qualified person as defined in National Instrument 43-101 and supervised the compilation of the information forming the basis for this release.

The representative chip and grab samples mentioned in this release were analyzed for gold only at SGS Canada by GE_FAA30V5. The single over-limit sample that exceeded 10,000 ppb gold was analyzed by SGS Canada by GO_FAG30V. Confirmation standards were inserted by SGS Canada with each of the two analytical techniques. Bedrock representative chip and grab samples mentioned in this release are potentially selective by nature and are unlikely to represent average grades within the bedrock when drilled.

Except for the drilling completed in 2008, the historic exploration drilling activity cannot be relied upon due to poor quality georeferencing and lack of down-hole dip information. Despite estimates, the drill intersections mentioned in this release may not accurately represent the true width of the intersection. In 2008 all cut and/or split core samples were analyzed by ICP analyses at Ecotech Analytical Laboratory. Samples that exceeded 1,000 ppb Au were rerun by lead collection fire assay at the same laboratory using a preferred 30 gram sub-sample size.

Neither the 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 news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.

SOURCE: Endurance Gold Corporation

ReleaseID: 570350

VANCOUVER, BC / ACCESSWIRE / December 16, 2019 / ParcelPal Technology Inc. ("ParcelPal" or the "Company"), (CSE:PKG)(FSE:PT0)(OTC PINK:PTNYF) is pleased to announce that it has achieved record revenue for the month of November, 2019. Notably, the company achieved approximately $565,000 in November versus $322,470 November in the previous year, an overall 75% increase.

"I am thrilled with our progress moving into the end of 2019, and acceleration into the New Year. In November 2019, we were able to achieve around $565,000 in sales in just one month, compared to $322,000 in November 2018. We saw an acceleration in sales growth across all verticals, especially within eCommerce and same day delivery, which is now starting to scale. This was our biggest November on record, these results are promising across all our geographic segments and verticals, and we're confident about what's ahead. The balance of calendar 2019 will be an exciting period with major launches in marketing and sales tactics being fully rolled out," said President and Chief Executive Officer, Kelly Abbott.

Abbott Continued, "We have successfully maintained an overall 99% delivery success rate, delivering thousands of packages last month. Our results this quarter decisively demonstrate the growing profitability and opportunities ahead for us. As we enter Q1, I am very confident that we will continue our growth trajectory into 2020 and continue to capitalize on this billion-dollar industry."

About ParcelPal Technology Inc.

ParcelPal is a leader in the growing technology and logistics industry. ParcelPal seamlessly connects consumers to businesses, where they have access to the goods they love, anytime, anywhere. Customers can shop at partner businesses and through the ParcelPal technology receive their purchased goods within an hour or the same day. The Company offers on-demand delivery of merchandise from leading retailers, restaurants, medical marijuana dispensaries and liquor stores in Vancouver, Calgary, Saskatoon and soon in major cities Canada-wide.

ParcelPal Website: www.parcelpal.com

The Canadian Securities Exchange ("CSE") or any other securities regulatory authority has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release that has been prepared by management.

CSE – Symbol: PKG

FSE – Symbol: PT0

OTC – Symbol: PTNYF

Contact: re:Investor Inquiries – info@parcelpal.com

Forward Looking Information

This news release contains forward looking statements relating to the Proposed Transaction, and the future potential of ParcelPal. Forward looking statements are often identified by terms such as "will", "may", "should", "intends", "anticipates", "expects", "plans" and similar expressions. All statements other than statements of historical fact, included in this release are forward looking statements that involve risks and uncertainties. These risks and uncertainties include, without limitation, the risk that the Proposed Transaction will not be completed due to, among other things, failure to execute definitive documentation, failure to complete satisfactory due diligence, failure to receive the approval of the CSE and the risk that ParcelPal will not be successful due to, among other things, general risks relating to the mobile application industry, failure of ParcelPal to gain market acceptance and potential challenges to the intellectual property utilized in ParcelPal. There can be no assurance that any forward looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The Company cannot guarantee that any forward looking statement will materialize and the reader is cautioned not to place undue reliance on any forward looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward looking statements contained in this news release are expressly qualified by this cautionary statement. The forward looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward looking statements as expressly required by Canadian securities laws.

SOURCE: ParcelPal Technology Inc.

ReleaseID: 570340

BURLINGAME, CA / ACCESSWIRE /  December 16, 2019 / Humanigen, Inc., (OTCQB:HGEN) ("Humanigen"), a clinical-stage biopharmaceutical company focused on the development of next-generation CAR-T and other cell therapies, announced today that Cheryl Buxton, Korn Ferry's Global Sector Leader of Pharmaceuticals, has agreed to join the Humanigen board of directors.

"I am very happy to be joining Humanigen at an exciting time in their evolution as a cell and gene therapy company," stated Ms. Buxton. "Humanigen's groundbreaking science in making CAR-T therapy potentially more efficacious and less toxic has broad implications for the utility of CAR-T as well as T cell engaging therapies more broadly."

Commenting on the appointment, Dr. Cameron Durrant, Humanigen's chairman and chief executive officer stated, "It is a pleasure to welcome Cheryl to our board. Her extensive international background in organizational and strategic resourcing and enviable network will be instrumental in helping shape our organization."

Ms. Buxton leads the research and development sector for the pharmaceutical and consumer divisions within the Korn Ferry organization. Prior to joining Korn Ferry in 1994, Ms. Buxton was human resources director for Johnson & Johnson Pharmaceuticals (Cilag Ltd), based in the U.K., where her focus was on organizational issues and strategic resourcing. She holds a master's degree in employment law and industrial relations from Leicester University, a diploma in personnel management and is a member of the Institute of Personnel and Development, is on the Executive Council for Springboard, a non-profit organization encouraging women entrepreneurs in Life Sciences, and on the Board of Riding with Heart a non-profit organization involved in therapeutic riding.

About Humanigen

Humanigen, Inc. is developing its portfolio of next-generation cell and gene therapies for the treatment of cancers via its novel, cutting-edge GM-CSF neutralization and gene-knockout platforms. There is a direct correlation between the efficacy of CAR-T therapy and the incidence of life-threatening toxicities (referred to as the efficacy/toxicity linkage). We believe that our GM-CSF neutralization and gene-editing platform technologies have the potential to reduce the inflammatory cascade associated with serious and potentially life-threatening CAR-T therapy-related side effects while preserving and potentially improving the efficacy of the CAR-T therapy itself, thereby breaking the efficacy/toxicity linkage. The company's immediate focus is combining FDA-approved and development stage CAR-T therapies with lenzilumab, the company's proprietary Humaneered® anti-human-GM-CSF immunotherapy, which is its lead product candidate. A clinical collaboration with Kite, a Gilead Company, was recently announced to evaluate the sequential use of lenzilumab with Yescarta®, axicabtagene ciloleucel, in a multicenter clinical trial in adults with relapsed or refractory large B-cell lymphoma. The company is also focused on creating next-generation combinatory gene-edited CAR-T therapies using strategies to improve efficacy while employing GM-CSF gene knockout technologies to control toxicity. In addition, the company is developing its own portfolio of proprietary first-in-class EphA3-CAR-T for various solid cancers and EMR1-CAR-T for various eosinophilic disorders. The company is also exploring the effectiveness of its GM-CSF neutralization technologies (either through the use of lenzilumab as a neutralizing antibody or through GM-CSF gene knockout) in combination with other CAR-T, bispecific or natural killer (NK) T cell engaging immunotherapy treatments to break the efficacy/toxicity linkage, including to prevent and/or treat graft-versus-host disease (GvHD) in patients undergoing allogeneic hematopoietic stem cell transplantation (HSCT). The company has established several partnerships with leading institutions to advance its innovative cell and gene therapy pipeline. For more information, visit www.humanigen.com

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, they give no assurance that such expectations will prove to be correct, and actual results could differ materially from the forward-looking statements. Words such as "will," "expect," "intend," "plan," "predict," "potential," "possible," and similar expressions identify forward-looking statements, including, without limitation, statements related to the scope, progress, expansion, and costs of developing and commercializing the Company's product candidates; opportunity to benefit from anticipated regulatory incentives for product candidates; and anticipated expenses related to development activities, clinical trials and the development and potential commercialization of product candidates.

Forward-looking statements are subject to risks and uncertainties including, but not limited to, the Company's lack of revenues, history of operating losses, limited cash reserves and ability to obtain additional capital to develop and commercialize its product candidates, including the additional capital which will be necessary to complete the clinical trials that the Company has initiated or plans to initiate, and continue as a going concern; the Company's ability to execute its strategy and business plan; the potential timing and outcomes of development, pre-clinical and clinical studies of lenzilumab, ifabotuzumab, HGEN005 any of our CAR-T pipeline and the uncertainties inherent in development, pre-clinical and clinical testing; the ability of the Company to timely source adequate supply of its development products from third-party manufacturers on which the Company depends; the potential, if any, for future development of any of its present or future products; the Company's ability to successfully progress, partner or complete further development of its programs; the Company's ability to attain market exclusivity or to protect its intellectual property; competition; changes in the regulatory landscape that may prevent the Company from pursuing or realizing any of the expected benefits from the various regulatory incentives important to its strategy, or the imposition of regulations that affect the Company's products; and the various risks described in the "Risk Factors" and elsewhere in the Company's periodic and other filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. The company has no obligation, and expressly disclaims any obligation to update, revise or correct any of the forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:
Media:
Chris Bowe – 646-662-7628
cbowe@humanigen.com

SOURCE: Humanigen, Inc.

ReleaseID: 570228

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, ON / ACCESSWIRE / December 16, 2019 / Avidian Gold Corporation (TSXV:AVG) (the "Company") announces a non-brokered private placement (the "Private Placement") of up to 6,000,000 flow-through units (the "Flow-Through Units") at a price of $0.10 per unit for aggregate gross proceeds of up to $600,000.00. Each Flow-Through Unit consists of one common share in the capital of the Company to be issued on a "flow through" basis pursuant to the Income Tax Act (Canada) and one-half common share purchase warrant. Each whole warrant entitles its holder to purchase one common share in the capital of the Company at an exercise price of $0.15 per share for a period of 24 months from the date of issuance.

This offering by Avidian is to assist their majority owned, private subsidiary, High Tide Resources Corp by way of a step-down financing arrangement. The Company shall have the option to increase the Offering by up to additional 3,000,000 FT Units. Closing is expected to be on or about December 19, 2019.

The net proceeds from the Offering shall be primarily used for funding exploration and development work on the Labrador West iron ore project in Labrador and the Black Raven property near Twillingate in north-central Newfoundland, the interests in which is held by High Tide.

The Offering is conditional upon receipt of required regulatory approvals, including the approval of the TSX Venture Exchange. The FT Shares issued pursuant to the Offering, as well as any compensation options that may be issued to eligible finders will be subject to a four month hold period in accordance with applicable Canadian securities laws.

About Avidian Gold Corp.

Avidian is focused on and committed to the development of advanced stage mineral projects throughout first world mining friendly jurisdictions using industry best practices combined with a strong social license from local communities. It brings a disciplined and veteran team of project managers together with a regional scale advanced stage gold-copper exploration portfolio in Alaska. Avidian's Golden Zone project also hosts a NI 43-101 Indicated gold resource of 267,400 ounces (4,187,000 tonnes at 1.99 g/t Au) plus an Inferred gold resource of 35,900 ounces (1,353,000 tonnes at 0.83 g/t Au). Additional projects include Amanita which is adjacent to Kinross Gold's Fort Knox gold mine in Alaska and Jungo in Nevada. The Labrador West property located in Labrador and the Black Raven and Strickland properties located in Newfoundland, are held within Hide Tide Resources Corp, a private company in which Avidian holds a significant interest.

Further details on the Corporation and the individual projects, including the NI 43-101 Technical report on the Golden Zone property, can be found on the Corporation's website at www.avidiangold.com.

About High Tide Resources Corp.

High Tide is a private corporation, majority owned by Avidian, that is focused on and committed to the development of advanced-stage mineral projects within Canada using industry best practices combined with ensuring a strong social license from local communities. It is advancing its Labrador West iron ore property, Strickland base metal property and Black Raven gold property, all located in Newfoundland & Labrador, Canada. High Tide is majority owned by Avidian.

For further information, please contact:

Bonnie Hughes, Manager Investor Relations
Mobile: ++44 75382 96674
Email: info@avidiangold.com

Steve Roebuck
High Tide President & VP Exploration
Mobile: +1 (905) 741-5458
Email: sroebuck@avidiangold.com

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 news release.

The technical information contained in this news release has been approved by Dr. Tom Setterfield, P.Geo., Vice President Exploration of Avidian, who is a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects including the ability to close the Offering and secure additional financing as needed, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

SOURCE: Avidian Gold Corp.

ReleaseID: 570325

IDGC announces Notice of Special Meeting of Shareholders January 16, 2020 1pm PST

SAN DIEGO, CA / ACCESSWIRE / December 16, 2019 / ID Global Corporation (IDGC) (OTC PINK:IDGC) (the "Company" or "IDGC"), a diversified holdings company, is pleased to announce the first member of its new advisory board Mr. Simon Flack, as well as Notice of a Special Meeting of Shareholders January 16, 2020 at the company headquarters in San Diego, CA. (More details can be found at www.idgc.io)

Mr. Dalsey, Chairman and CEO, states. "Forward-looking companies use advisory boards to bring fresh perspectives on strategy, economic trends, and specific geographic markets-as well as alerting statutory boards to issues that may not be on their radar and Simon Flack is the first of many high quality personnel that IDGC continues to attract."

ABOUT SIMON FLACK

Simon Flack brings 20 years of international experience in engineering, technology leadership, software architecture, strategy and entrepreneurship. For the past 4 years he has focused on the digital and energy infrastructures of smart cities working currently as the project lead and business developer for smart energy at a Norwegian power company and previously as the CDO of the engineering department for the city of Bodø, Norway. While working for the city of Bodø he led various smart city projects including designing IoT architectures and digital planning tools. Simon is currently working on delivering Microgrid As A Service solutions for near Zero Emission Buildings (nZEB) and Zero Emission Neighborhoods (ZEN). Having worked on large scale smart city infrastructure and hyperscale datacenter projects, Simon has experience raising capital from world leading financial institutions and investment groups. Simon's strength is in his ability to leverage his diverse backgrounds in engineering, physics, information technology and entrepreneurship to bridge the gap between various project stakeholders and to be actively involved in smart city projects from financing to implementation.

ABOUT NOVEDA

Their patented ‘software as a service' (SaaS) solutions empowers stakeholder communities to make smart grid a reality by reducing energy and water usage, optimizing performance of renewable energy systems, and reducing the carbon footprint for its customers across commercial/retail, industrial, government, education, and utility sectors, including cannabis industry.

Customers see an immediate reduction in energy costs and pay for the service over a 5 or 10-year contract. After the contract period, the customers own their equipment outright while maintaining annual subscription for the monitoring. https://www.noveda.com

About ID Global Corp

ID GLOBAL CORP is a publicly traded (OTC: IDGC) diversified holdings company that has strategic investments and is focusing on acquisitions in the Smart City (IoT) 4.0 industry. Structured as partnership subsidiaries, IDGC enables the growth and development of the acquired businesses with the goal of maximizing their value prior to an exchange listed spinoff. IDGC is looking to consolidate and roll-up the highly fragmented new IoT applications and 4.0 industries which enable Smart City development. https://www.idgc.io

Disclosures: IDGC and its subsidiaries and direct coventurers, respectively and collectively seek safe-harbor in accordance with the provisions of the Private Securities Reform Act of 1995 for certain forward-looking statements made by any of them in this announcement, as the same is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. A forward-looking statement is defined as a statement that cannot sustain itself as merely a historical fact. A forward-looking statement predicts, projects, or uses future events as expectations or possibilities. These statements can often be misleading, as they can be mistaken for factual statements, while the issuers are, in fact, speculating. Title 15 Section 78u-5 of the United States Code defines a forward-looking statement as including overly optimistic views as to a company's future economic performance, such as revenues or income, plans for future operations, or use of a report written by an outside reviewer. Certain terms or phrases indicate the use by an issuer of forward-looking statements, such as any tense from present to future or similar inflection of words comparable to "believe", "estimate", "anticipate", "plan", "predict", "may", "hope", "can", "will", "should", "expect", "intend", "is designed to", "with the intent", "potential", the negative of these words or such other variations thereon or comparable terminology, may indicate forward-looking statements; however, the absence of these terms or phrases does not mean that a statement is not forward-looking.

Contact:

Jules Adrian Dalsey
888-233-7448
ir@idgc.io

SOURCE: ID Global Corporation

ReleaseID: 570287

NEW YORK, NY / ACCESSWIRE / December 16, 2019 / Purcell Julie & Lefkowitz LLP, a class action law firm dedicated to representing shareholders nationwide, is investigating a potential breach of fiduciary duty claim involving the board of directors of Axos Financial, Inc. (NYSE:AX).

If you are a shareholder of Axos Financial, Inc. and are interested in obtaining additional information regarding this investigation, free of charge, please visit us at:

http://pjlfirm.com/axos-financial-inc/

You may also contact Robert H. Lefkowitz, Esq. either via email at rl@pjlfirm.com or by telephone at 212-725-1000. One of our attorneys will personally speak with you about the case at no cost or obligation.

Purcell Julie & Lefkowitz LLP is a law firm exclusively committed to representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty and other types of corporate misconduct. For more information about the firm and its attorneys, please visit http://pjlfirm.com. Attorney advertising. Prior results do not guarantee a similar outcome.

SOURCE: Purcell Julie & Lefkowitz LLP

ReleaseID: 570349

LOS ANGELES, CA / ACCESSWIRE / December 16, 2019 / Dear MCTC Shareholders:

It's near the end of 2019 and we feel this is a perfect time to provide all of our shareholders with a recap of 2019 and an overview of our plans as we move into the new year. All of us at MCTC (OTC PINK:MCTC) wish you and your family a happy holiday season. We are certainly looking forward to having you onboard the MCTC team as we move into 2020.

Company Reorganization

During late May of this year, a new management team lead by Arman Tabatabaei was installed and an experienced board of directors was appointed. The core team has been involved in various aspects of the cannabis and hemp markets for a considerable period of time. We are in the process of changing our corporate identity to Cannabis Global, Inc., which we plan to re-domicile to the state of Nevada.

Our Team

Arman is highly experienced with a background in commercial/residential lending and as a consultant to public companies in both the hemp and cannabis sectors. Directors Robert Hymers, Edward Manolos and Dan Nguyen all have considerable business and cannabis sector experience. Robert holds a Master of Science in Taxation and a Bachelor of Science in Accountancy, in addition to a CPA license. Formally with Ernst & Young, where he worked in the Firm's core assurance practice performing audits of publicly and privately held companies, he has numerous interests in a variety of cannabis and non-cannabis businesses. Mr. Manolos is one of the true pioneers of the California medical cannabis marketplace. He has managed and operated over thirty-five dispensaries from Los Angeles to San Jose including twenty in Los Angeles and is credited with starting Los Angeles' first Medical Marijuana farmer's market.

The Strategic Plan

After the reorganization in May, we quickly settled on a strategic plan for the rest of 2019 and into 2020. While the Company's original plan was to enter the hemp cultivation and post-harvest processing segment, during June and July we began to notice several ominous signs within that segment that indicated a looming oversupply of hemp and processed materials. Fortunately, we were early enough in our planning cycle to allow for a business redirection, thus allowing MCTC to avoid many of the well-publicized issues currently being experienced in the hemp sectors. This hemp industry upheaval had a silver lining for MCTC in that it has lead us to our current strategic direction.

Re-Positioning in the Cannabinoid Sciences Arena

It is our team's strong belief that one of the most underserved submarkets of the hemp and cannabis marketplaces relates to the delivery of hemp extracts and cannabinoids to the human body. The Farm Bill of 2018, which made hemp legal at the federal level, is now one year old. Prior to this time, it had generally been illegal for scientists and researchers to possess hemp extracts, thus there had been very little research accomplished. The passage of the Farm Bill has now opened up numerous areas of research for MCTC, and others, to pursue relative to developing the best methods and sciences relating to administering hemp extracts and cannabinoids to the human body. We have hit the ground running in the area, which is generally being identified as the cannabinoid sciences sub-sector of the cannabis and hemp marketplaces.

R&D and Intellectual Property Accomplishments

In only a few months, through our internal development efforts and through the efforts of our CROs (Contract Research Organizations) we have begun to make an impact within the cannabinoid sciences arena. We recently announced a new cannabinoid delivery system to be marketed as a replacement for alcohol in many beverages. The technology enables formulators to utilize very small amounts of extracts in order to produce similar or superior results compared to other infusions. As the Company recently announced, independent testing laboratories confirm when used as directed, Hemp You Can Feel™ is undetectable in industry-standard testing protocols. MCTC plans to market products based on the novel infusions under its Hemp You Can Feel™ brand and to license the technology were appropriate. On December 12, 2019, we filed a patent application to protect this unique technology. We also believe we are the first organization to develop high load factor polymeric nanoparticles and nanofibers of cannabinoids and the first to combine several delivery technologies with unique bio-enhancers.

Just Getting Started on the Cannabis Technology Front

We think our cutting edge research and development work in the laboratory is just getting started. We recently started a project to produce nanoparticles of our Hemp You Can Feel™ technology and cannabinoid glycosides, the first phase of which is expected to be completed by the end of 2019. Our next phases of research, and our most ambitious, is to create glycosides and nanoparticles of non-psychoactive tetrahydrocannabivarin (THC-V) and cannabinol (CBD), two lesser-known cannabinoids, to be used on appetite suppression and sleep product trials. Our research thus far has resulted in the filing of five patent applications, with several more filings likely during the early part of 2020.

Our Capital Structure

We are especially proud of our capital structure. As of our last filing with the U.S. Securities & Exchange Commission (SEC), there were approximately 14.1 million shares outstanding. The vast majority of these shares are controlled by our board members and a subject to significant sales restrictions. We have also been able to file a registration statement with the SEC, which went effective very quickly, for 1,333,333 shares, which allows us to offer shares to institutional investors in order to finance our future R&D and product programs.

Overall, we are very happy with the progress we have made during 2019 – we feel we have already made an impact within the cannabinoid sciences marketplace. Moving into 2020 we plan to continue to enhance our R&D efforts and to increase our IP portfolio. In addition, during the month of January, we plan to announce several new direct product offerings based on these technologies and to begin our official transition into our new corporate identity of Cannabis Global, Inc.

All of us at MCTC thank you for your interest in MCTC Holdings and look forward to your continued involvement in the Company.

More information on the Company can be viewed at www.CannabisGlobalinc.com.

For more information, please contact:

Arman Tabatabaei
IR@cannabisglobalinc.com

SOURCE: MCTC Holdings, Inc

ReleaseID: 570323