XEBRA BRANDS LTD - XBRAF STOCK NEWS

Xebra Brands (CSE:XBRA)(OTCQB:XBRAD)(FSE:9YC0), a cannabis company, has closed its previously announced shares for debt transaction. The company settled an aggregate debt of $182,854.65 through the issuance of 2,031,716 common shares at a deemed price of $0.09 per share. This debt settlement includes accrued liabilities for fees and expenses owed to certain officers, directors, and consultants.

The transaction aims to preserve funds for operations and growth opportunities. 888,383 shares are subject to a four-month hold period. Notably, 703,333 shares were issued to company insiders, constituting a 'related party transaction' under MI 61-101, with Xebra relying on exemptions from formal valuation and minority shareholder approval requirements.

Xebra Brands, a cannabis industry leader, has engaged MPC Co, led by Melise Panetta, to spearhead its expansion into Mexico and the US. Panetta brings over 20 years of CPG experience and nearly a decade in the cannabis industry. Her expertise includes senior roles at PepsiCo, SC Johnson, and General Mills, as well as consulting for global cannabis brands.

Panetta will focus on developing strategic relationships with major Mexican retailers like Costco, GNC, and OXXO, which already carry CBD products. She will also play a key role in creating marketing, sales, and consumer strategies for the Elements Brand and contribute to corporate initiatives to strengthen Xebra's position in the Mexican market.

Xebra Brands has successfully completed the first manufacturing run of its Elements line, signifying a major step in its commercialization efforts in Mexico. This milestone follows the regulatory approval by COFEPRIS for Xebra's subsidiary, Elements Bioscience, to import, launch, and sell Elements Full Spectrum CBD Tinctures. These products are set to hit wellness stores, pharmacies, and retail channels amid growing demand for CBD-based products. The Mexican cannabis market is forecasted to reach $3.2B by 2026, with $210M from CBD sales. Xebra stands out as the only company legally allowed to operate in the Mexican cannabis sector, highlighting its pioneering role and commitment to quality and safety.

Xebra Brands has announced an expansion of its strategic partnership with ICAN Ventures, focusing on enhancing the formulation of its Elements brand CBD products in Mexico. This collaboration leverages ICAN's advanced laboratories and specialized team to develop precise, bioavailable, and safe CBD formulations. The aim is to produce tailored products for various consumer segments, including athletes, those seeking relaxation or skincare solutions, and pet products.

The partnership marks a milestone in Xebra’s plans to dominate the Mexican cannabis market, utilizing ICAN's expertise to ensure high-quality, effective products. Additionally, Xebra plans to settle $220,000 in debt through the issuance of 2,444,444 common shares at $0.09 per share, expected to conclude by July 8, 2024, pending approval from the Canadian Securities Exchange.

Xebra Brands has announced a strategic update, highlighting its focus on partnerships, mergers, and commercial expansion in the US and Mexico. The company aims to enhance its portfolio of CBD brands and capitalize on its unique market position in Mexico, where it is the only company authorized to cultivate, manufacture, and sell cannabis with less than 1% THC. Xebra is actively exploring partnerships and mergers with established US cannabis companies and local retailers in Mexico. The company is also evaluating potential acquisitions that align with its growth plans. Xebra's Mexican subsidiary, Desart MX, is leading the product regulatory approval process and establishing retail partnerships. The company is preparing to launch its Elements brand in major Mexican retailers, aiming to capture the growing CBD market ahead of full legalization. Xebra's interim CEO, Rodrigo Gallardo, emphasized the company's commitment to becoming a dominant player in the global CBD industry through strategic initiatives and robust commercial activities.

Xebra Brands has achieved a significant milestone by executing its first purchase order of CBD products from Restorative Botanicals.

The order covers 2,500 units of 250mg Tangerine Flavor CBD Tincture, authorized for import, launch, and sale in Mexico by COFEPRIS.

This product will be used in sample packages sent to retailers as part of the listing process, expanding Xebra's footprint in the Mexican cannabis market.

This step underscores the strategic partnership between Xebra and Restorative Botanicals, aimed at delivering high-quality CBD products.

Interim-CEO Rodrigo Gallardo emphasized this as a important step for Xebra in providing legally recognized CBD products in Mexico.

Xebra Brands has expressed its congratulations to President-Elect Claudia Sheinbaum on her recent election victory, marking her as Mexico's first female president. Xebra is optimistic about Sheinbaum's commitment to cannabis reform, aligning with the company's vision for a regulated and inclusive cannabis industry. Sheinbaum advocates for decriminalizing recreational cannabis use, focusing on education and public health over punitive measures. Xebra's CEO, Rodrigo Gallardo, highlighted the potential social justice and violence reduction benefits from responsible cannabis regulation. The company plans to collaborate with Sheinbaum's administration and Mexico's Cofepris to ensure safe, regulated cannabis products are accessible. Xebra is prepared to invest and innovate under Mexico's leadership to help the country become a global leader in the cannabis sector.