InnoCan Pharma Corporation that after the early substantial positive results of its CBD Loaded Exosome Platform, its Company's wholly-owned subsidiary, InnoCan Pharma Ltd. has signed a Research and License Agreement with Ramot, the Technology Transfer Company of Tel Aviv University, as of December 6, 2021. The New Agreement is designed to execute and extend the previously announced Research and Option agreement InnoCan Israel, and Ramot dated April 17, 2020. The execution of the New Agreement represents another significant milestone in the Company's strategic plan. The New Agreement finalizes certain terms of the Original Agreement and defines the royalties and payments Ramot would receive in various scenarios. The New Agreement expands the Original Agreement regarding the research plan by introducing a broader research work plan that will be carried out over the next 21 months, which will continue the development of the CLX platform and may expand the potential applications of the technology being developed at Ramot. The Company will fund the cost of the work plan in the aggregate amount of US$1,177,200, payable over four separate instalments. The New Agreement grants InnoCan Israel the exclusive, worldwide, royalty-bearing license to commercialize the research results and the products that will be developed from the technology. The company also maintains the right under the New Agreement to sublicense the license to any third parties.