Geonovus Establishes Uruguayan Hemp Farm and Receives "De Alta" Licence for Importation and Development of Medicinal Hemp Products

VANCOUVER, BC--(Marketwired - October 30, 2014) - GEONOVUS CORP. (CNSX: GNM) ("GeoNovus" or the "Company") is pleased to announce it has now established an active heirloom hemp farm for the cultivation of hemp plants with original levels of THC and Cannabinoids that are currently restricted and unavailable in North America. This farm is growing heirloom hemp plants without genetically altered structures with naturally high levels of cannabinoids, unlike the genetically modified hemp plants found in North America due to government restrictions on THC levels.

The production heirloom hemp allows GeoNovus to grow, crop and sell these unique and valuable plants that can be used to create new high potency CBD medicines in world class Uruguayan labs or to generate immediate revenue through sales of seeds and hemp fiber to North American and European markets. These genetically unaltered hemp plants require far fewer pesticides, herbicides and fertilization then their genetically modified counterparts found in North America. Current Canadian hemp production statistics are based on low THC plants that require far more intensive farming systems and produce far less cannabinoids, seeds and hemp fiber -- creating a far more profitable and less cost intensive farming operation in Uruguay.

As well as the establishment of the hemp farm GeoNovus has received two important licences:

1. The Uruguay Growers Co-Op Contract for Operations and Administration
   The only grower's co-op permit issued in Uruguay at this time for Research and Development of natural level THC and Cannabinoid hemp and marijuana. This permit is mandatory to operate within the current Uruguayan hemp & marijuana framework.

2. "De Alta" Licence issued by Inase Uruguay (Instituto Nacional De Semillas)
   This licence issued to GeoNovus' exclusive SA partner in Uruguay run by Enviro Consultores under the supervision of the former Uruguayan director of the environment -- Daniel Sztern allows for importation and export of heirloom (natural levels THC & Cannabinoid) hemp seeds and officially accept the company as an agricultural R&D hemp producer.

GeoNovus Uruguay advisor and former Director of the Enviroment -- Daniel Sztern comments, "We have now cleared many political hurdles and licencing requirements to become a full spectrum farming and R&D operation in the best jurisdiction in the world for hemp and marijuana. Our political, educational and technical expertise are unmatched in Uruguay and we are in the process of establishing contracts with world class laboratory facilities in Uruguay."