Thoughtful Brands Inc. announced the formation of its joint venture with Franchise Cannabis Corp. to sell and market Franchise-manufactured CBD, hemp and cosmetic products in the European Union, Switzerland, Norway and the United Kingdom. The parties' will share equal ownership in the joint venture.

Franchise will manage procurement and fulfillment of customer orders from its European manufacturing facilities. Thoughtful Brands will provide marketing and eCommerce operations infrastructure in the JV Territory. Franchise is a leading European-focused cannabis and pharmaceutical distribution company based in Germany with two Good Distribution Practices (GDP) certified distribution facilities, exporting to over 18 countries and currently serving a network of over 1,500 pharmacies within Germany for medical cannabis sales.

Franchise has agreed to make a $500,000 equity investment into the Company through a private placement subscription of $0.20 units. Each Unit will consist of one (1) common share of Thoughtful Brands and one (1) Share purchase warrant, with each Warrant entitling the holder to purchase one additional Share (each, a "Warrant Share") at a price of $0.28 per Warrant Share for a period of twenty-four (24) months from their date of issue. Thoughtful Brands will then make a $350,000 equity investment into the joint venture, which will be used to develop business operations, including the initial funds to launch Franchise products in Europe using the Company's advanced eCommerce capabilities.

The Units will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.