ICC Expanding to New Zealand with NUBU Supply Agreement
July 25th, 2019
App, Exclusive, News, Top News
Although the possession of any amount of cannabis has been illegal in New Zealand since 1975, half of the population aged 17-65 admit to trying cannabis, while one in six report being regular users, giving the country the ninth-highest cannabis consumption level in the world.
In December of last year, the Misuse of Drugs act was amended to allow terminally-ill patients access to medicinal cannabis, and as part of the 2020 general election, New Zealand will hold a binding yes/no referendum question on the legalization of cannabis for personal use. Polling shows strong support for the legalization of cannabis for medical purposes, and slightly lower but growing support for recreational legalization, and the liberalization of cannabis regulations is expected to enable cultivation and the creation of a national cannabis industry.
In keeping with its solid record of expanding early into emerging markets, International Cannabis Corporation (CSE: WRLD, FWB: 8K51, OTC: WLDCF) has entered into an exclusive supply and commercial rights agreement with NUBU Pharmaceuticals, a licensed New Zealand medical cannabis company.
Founded in 2017, NUBU Pharmaceuticals is widely considered a first mover within New Zealand’s high-value medical cannabis industry, and in partnership with ICC, NUBU is now equipped with best-in-class product formulations and supply chain infrastructure to deliver reputable and clinically-effective medicinal cannabis products to New Zealand. NUBU was awarded a license to deal in controlled drugs by New Zealand’s Ministry of Health earlier this year as well as a license to sell medicines wholesale, allowing it to import and distribute ICC-manufactured THC/CBD products ahead of its competitors.
ICC is committed to servicing all links of the cannabis value chain, including the manufacture and export of finished products to developing international marketplaces, and plans to leverage its existing brand portfolio, European GMP-certified processing facilities, and extraction-ready inventories to service New Zealand’s patient population while maximizing margins and profitability.
Under the terms of the agreement, ICC will supply a suite of full-spectrum, pharmaceutical-grade medical cannabis products including oil/tincture and capsules in finished-goods form, ICC-branded, co-branded, and/or ICC-labeled medical cannabis products currently under development including, but not limited to oil, capsules, transdermal patches, oral sprays, inhalers, and vape cartridges. It will also provide hemp-derived CBD adhering to the international standard of less than 0.3% THC in both bulk form (isolate, distillate, full spectrum oil) and finished good forms.
Commenting on the agreement, David Shpilt, Chief Executive Officer of International Cannabis said, “ICC’s exclusive supply and commercial rights agreement with NUBU successfully catapults the company into yet another high-value medical cannabis jurisdiction. The marriage of International Cannabis’ superior product formulation capabilities and extensive CPG/branded product market entrance experience, coupled with NUBU’s unique CBD/THC distribution infrastructure, will permit continued brand loyalty while addressing priority medical conditions within the Asia-Pac theatre.”
New Zealand’s population is quickly approaching five million, but NUBU isn’t interested in servicing the country’s population alone, and is already looking outside for even greater opportunities. Noting New Zealand’s long history of robust agricultural exports, NUBU believes that exporting cannabis and derivatives to meet the world’s growing demand is a natural fit, and ICC plans to be an integral part of its future plans.
Shpilt added, “In collaboration with NUBU, the company is also in discussions about the distribution of a number premium value-add medicinal and wellness products from New Zealand to export markets internationally. ICC now boasts supply, distribution and commercial rights agreements with a host of high-profile cannabis operators across a variety of territories primed for exponential growth such as India, Germany, New Zealand, and Colombia.”
With an established presence on five continents, 110 clients representing roughly 3500 pharmacies in 16 countries, five licenses for cultivation on three continents, and access to over 850 acres of premium hemp crops estimated to produce up to 6800 tons of biomass for CBD extraction, International Cannabis certainly lives up to its name, and the NUBU agreement furthers its ultimate goal of creating the first truly global cannabis supply chain.
For more of the ICC story, keep watching this page, or visit https://intlcannabiscorp.com/
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