Innocan Pharma's Cosmetic Clinical Study Indicates a 90% Wrinkle Reduction after Using its SHIR ™ Premium CBD Facial Serum

Herzliya, Israel and Calgary, Alberta - (October 15 2020) - Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (the “Company” or “Innocan”), is pleased to announce today that it has completed a cosmetic clinical study on 20 volunteers that presented a 90 – 95% facial skin wrinkle reduction after using its SHIR ™ Premium CBD Facial Serum.

The following are the results of the application of the SHIR - Innocan Pharma Facial Serum with 300 mg of Cannabidiol (“CBD”) after 28 days of using the serum twice a day:

Before and After pictures:

Figure1 Subject ID 126 eye contour wrinkles 3D before picture

Figure2 Subject ID 126 eye contour wrinkles 3D after 28 days picture

“Achieving these amazing results is due to the combination of active ingredients with a specific amount of CBD, result in a tremendous facial skin improvement. The SHIR Beauty & Science skincare brand combines the benefits of CBD’s most effective ingredients into an innovative formula which is leading to visible fast-acting results. Each ingredient was carefully chosen to provide a synergistic effect, working in harmony with each other. The high satisfaction of the volunteers enrolled at the study may indicate a high potential of the targeted market to welcome SHIR Beauty & Science skincare line of products and accelerate InnoCan market penetration", stated Iris Bincovich, Chief Executive Officer of Innocan.”

The clinical study was conducted by UPTEC, Science and Technology Park of the University of Porto, Portugal which is an independent lab. The findings of the clinical study were consistent with the main principles of ICH GCP, Helsinki declaration and Portuguese legal requirements.

About Innocan

Innocan Israel, a wholly owned subsidiary of the Company, is a pharmaceutical tech company that focuses on the development of several drug delivery platforms containing CBD. Innocan Israel and Ramot at Tel Aviv University, are collaborating on a new, revolutionary exosome-based technology that targets both central nervous system (CNS) indications and the Covid-19 Corona Virus using CBD. CBD-loaded exosomes hold the potential to help in the recovery of infected lung cells. This product, which is expected to be administrated by inhalation, will be tested against a variety of lung infections.

Innocan Israel signed a worldwide exclusive license agreement with Yissum, the commercial arm of The Hebrew University of Jerusalem, to develop a CBD drug delivery platform based on a unique-controlled release liposome to be administrated by injection. Innocan Israel plans, together with Professor Berenholtz Head of the Laboratory of Membrane and Liposome Research of The Hebrew University of Jerusalem, to test the liposome platform on several potential indications. Innocan Israel is also working on a dermal product that integrates CBD with other pharmaceutical ingredients as well as the development and sale of CBD-integrated pharmaceuticals, including, but not limited to, topical treatments for the relief of psoriasis symptoms as well as the treatment of muscle pain and rheumatic pain. The founders and officers of Innocan Israel each have commercially successful track records in the pharmaceutical and technology sectors in Israel and globally.

For further information, please contact:

Innocan Pharma Corporation

Iris Bincovich, CEO

+972-54-3012842

[email protected]

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Caution regarding forward-looking information

Certain information set forth in this news release, including, without limitation, information regarding the markets, requisite regulatory approvals and the anticipated timing for market entry, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan's control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of requisite production and distribution arrangements.

Forward-looking information is subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import / export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner) and availability in each market of product inputs and finished products. The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release concerning the timing of launch of product distribution. A comprehensive discussion of other risks that impact Innocan can also be found in Innocan's public reports and filings which are available under Innocan's profile at www.sedar.com.

Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.