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2014-04-16

Vida Cannabis Corp. : Vida Cannabis Corp. Closes US$ 2.5 Million Equity Financing

Toronto, Ontario - April 16, 2014 - Vida Cannabis Corp.
("Vida Cannabis") is pleased to announce it has completed an oversubscribed
equity financing, raising US$ 2.5 million via private placement offering of
its common stock. Initially, the round was set at US$ 1.5 million. Due to
significantly higher interest than anticipated, Vida increased the quantum of
financing to US$ 2.5 million, which was consented to by investors of this
round. This private placement consisted of 10,000,000 common shares at a
price of US$ 0.25 per share for total gross receipts of US$ 2.5 million,
bringing the total number of common shares outstanding to 28,708,400.

Vida Cannabis Chairman and CEO Greg Wilson stated: "This is a tremendous
outcome for Vida Cannabis Corp. and demonstrates the excitement amongst
investors and the ongoing support of our existing shareholders as we continue
developing Vida's business. The proceeds of this successful equity financing
will allow us to take steps that are essential to establishing Vida Canada's
profile as a candidate fit for licensing with Health Canada."

The net proceeds from the offering will be used by Vida Cannabis to further
its wholly owned subsidiary Vida Cannabis (Canada) Ltd.'s efforts to obtain a
commercial producer license under theMarihuana for Medical Purposes
Regulations
. In particular, the proceeds will be used for capital expenditures including
further improvements to the recently acquired 315,000-square-foot
Stellarton-based production plant, retaining key personnel and establishing
operational infrastructure and general working capital purposes.

Mr. Wilson continued: "As Vida continues to progress toward obtaining a
license, I believe it is reinforcing its dominant positioning in the medical
marijuana industry. Vida has twice the footprint of any currently licensed
producer in terms of production capacity, is engaging best-in-class personnel
and is securing the expertise and tools required to produce premium quality
products."

About Vida Cannabis Corp.

Vida Cannabis Corp. ("Vida Cannabis") is focused on developing a dominant
production footprint in the rapidly developing global marketplace for the
legal use of medicinal and recreational marijuana.

Initial operations are focused on the Canadian market where Health Canada has
established national guidelines enabling best-in-class producers to acquire
commercial production licenses under theMarihuana for Medical Purposes
Regulations
.

Via its wholly owned subsidiary, Vida Cannabis (Canada) Ltd., Vida Cannabis
purchased a 315,000-square-foot production facility in the town of
Stellarton, Nova Scotia and secured a 50-year irrevocable approval
unanimously from the local municipality to operate a medical marijuana
production plant at the facility.

The highly secure facility boasts a fully engineered concrete floor,
18-foot-high concrete walls and a steel roof making it an ideal location for
the construction of a customized, state-of-the-art modern medical marijuana
production plant.
Vida Cannabis is working with one of the most talented cannabis consulting
teams in the world, which has extensive resources in the United States,
Canada and Europe, to establish an optimized end-to-end production plan to
help position Vida Cannabis with the largest, most advanced medical marijuana
facility in Canada.

Vida Cannabis continues to evaluate additional potential markets as regulatory
bodies around the world pass legislation enabling the production and
distribution of medicinal or recreational marijuana.

On behalf of the board,

Greg Wilson - Chairman&CEO
Vida Cannabis Corp.

Investor Relations
Toll free +1 800 593 1585 Direct: +1 647 560 4482
Email:InvestorServices@VidaCannabis.com

Web:VidaCannabis.com

Disclaimer

This announcement does not constitute or form part of, and shall under no
circumstances be considered as, an offer to sell, a solicitation to purchase,
or advice on investments in any securities of Vida Cannabis Corp. ("Vida
Cannabis"). Offers and solicitations shall be expressly identified as such
and made in compliance with applicable securities laws. This announcement is
for information purposes only. It should not be relied upon as a basis for
investment decisions. You should consult with your own investment,
accounting, legal and tax advisers to evaluate independently the risks,
consequences and suitability of any investments you are considering. Whilst
the information provided here is believed to be reliable, it cannot be
guaranteed. It may contain forward-looking statements made by or on behalf of
Vida Cannabis about its business or financial objectives, position,
strategies or expectations. Such forward-looking statements may be identified
by words such as, or similar to, "intends," "anticipates," "believes,"
"expects" and "hopes" and includes, without limitation, the development of
production facilities, approval from regulatory authorities and the ability
for Vida Cannabis to obtain adequate financing to meet its business
objectives. These statements involve inherent risks and uncertainties that
could cause actual results to differ materially from those indicated. The
statements in this announcement do not guarantee future performance. Vida
Cannabis does not undertake any obligation to update any information provided
in this announcement. In Canada, Vida Cannabis (Canada) Ltd., a wholly owned
subsidiary of Vida Cannabis, must obtain approval from Health Canada in order
to operate as a licensed commercial producer under theMarihuana for Medical
Purposes Regulations
. Vida Cannabis makes no representations or warranties that it will receive
Health Canada approval.

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vida Cannabis Corp. via Globenewswire

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