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Dakshidin Corporation (DKSC), Cancels Property Purchase due to Rezoning

LAS VEGAS, May 10, 2019 (GLOBE NEWSWIRE) -- Dakshidin Corporation has reversed the closing on the purchase of the farm property located in Mendocino County Northern California, that was reported in its March 11th press release. Changes to the zoning by-laws of that area of Northern California, that the property is located in, has meant that there would no longer be licenses issued in that area. The purchase of the farm was always predicated on its license being renewed. The reversal was amicable between both parties involved and the master cultivator will continue to work with DKSC going forward.

Dakshidin CEO Chris Haigh stated: “Obviously we are disappointed that the original property deal fell through, but the rezoning of the area meant that the license would not be renewed; the purchase was always predicated on the property continuing as it has had for the last three years to have a license. We are working closely with a number of realtors that specialize in suitable properties that currently have licenses and are for sale. I am extremely confident that we will find a property that will meet our needs in the very near future. This development has absolutely no effect on our CBD and Superfruit products. We are focusing on setting up more sales channels, plus working on rolling out marketing support to promote our unique line of products and have just opened our Amazon Store selling our line of Hemp Oil Products. Lot’s of good stuff going on.”

About Dakshidin Corporation (DKSC)
DKSC has positioned itself as an innovator in the emerging CBD and cannabis-derived products and services industry. The company is driven by three pillars of thought that guide the development of the business:

  1. Cannabis prohibition is approaching its inevitable end,
  2. Cannabis & CBD are conventional products used by a broad spectrum of consumers,
  3. Trusted brands will be the future of the cannabis industry.

Forward-Looking Statements
The information in this press release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.

Dakshidin Corporation Investor Relations

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Martin Parr - Director