VANCOUVER, British Columbia, Feb. 22, 2019 (GLOBE NEWSWIRE) — ICC International Cannabis Corp. (CSE: WRLD.U)(FWB: 8K51)(OTC: WLDCF) (“ICC” or “International Cannabis” or the “Company”) is pleased to provide the following updates pertaining to the Company’s medical cannabis (“THC”) and cannabidiol (“CBD”) asset portfolio.
Over the past three quarters, International Cannabis has deployed an aggressive acquisition strategy, amassing a robust portfolio of vertically integrated cannabis assets and industry partnerships. Upon pending closing of the Company’s proposed Letter of Intent (“LOI”) with Wayland Group, the Company will boast the following operations, partnerships, licenses and asset exposure:
- German medical Cannabis import license, three-year supply contract to import 35,000 kg of medical cannabis, 165 hectares of CBD cultivation operations, annual production of over 2,400 kilograms of CBD isolate, German indoor medical THC cultivation licence application;
- 820,000 square foot Ebersbach facility located just outside of Dresden, Germany:
- Replacement cost of 110 million euros;
- Of the many applicants to apply for German medical THC cultivation licences, only two have a completed facility, and of those that do, the largest is 14,000 square feet or 1.7 per cent the size of the Ebersbach facility
- Danish medical THC cultivation and manufacturing license:
- Stage A will include a 49,600 square foot cultivation unit, as well as a production and processing structure. All structures scheduled for construction have been designed to comply with EU-GMP standards;
- 100 acre land package;
- Engagement of leading greenhouse engineering and manufacturing firm, Azrom;
- No medical cannabis production cap or quotas;
- Access to skilled agricultural and manufacturing labour force;
- Local plant breeding and genetics expertise; and
- Well-financed health care system
- Distribution or supply agreements with over 39,000 corporate and independent pharmacies, augmented by various value-added services, including strategic procurement, warehousing, product registrations and regulatory representations;
- 155 metric tonnes of extraction-ready hemp inventories, resulting in near-immediate access to superior CBD concentrates;
- Exclusive supply agreement for the delivery of 400 metric tonnes of certified organic hemp from a licensed Croatian producer;
- First European Guaranteed Issue Medical Cannabis Coverage:
- First of its kind transformative coverage for cannabinoid therapeutic treatment via the BuyWell Care platform;
- Online medical cannabis coverages utilizing a proprietary pricing methodology;
- Over 500 million potential consumers;
- Over 1.6 million health care practitioners; and,
- Annual healthcare expenditures of $1.79 trillion in 2018.
- CBD Health and Wellness e-commerce marketplace;
- Catalogue of 430 proprietary genetics, seeds and strains;
- Polish hemp processing and extraction license:
- Operations are currently producing CBD distillate, isolate, bulk oils, and tinctures;
- Access to over 850 acres of premium hemp crops, estimated to yield up to 6,800 tons of material for CBD extraction;
- Existing extraction and manufacturing facility; and,
- Existing sales agreements across various EU member countries
- 60,000 square foot Swiss cannabis cultivation facility, proprietary genetics portfolio available for export, THC distillate import capabilities and pending material revenues from Haxxon AG operations;
- Leading candidacy for one of seven medical cannabis licences to be issued by the Italian government, as well as an pending ownership interest in a joint venture to produce cannabis products;
- Licenses for medical cannabis cultivation, manufacturing, distribution, transport, research and import/export in the Kingdom of Lesotho;
- Rich soils, ideal climate, skilled agricultural work force, low-cost labour and access to key infrastructure;
- 300 days of sunshine annually;
- First African nation to legalize medical cannabis; and,
- Ideal climate for low-cost greenhouse cannabis production
- Supply agreement to provide cannabis products to over 2,800 independent and corporate pharmacies across South Africa;
- Maltese licence to manufacture finished-dose medical cannabis;
- Portuguese hemp cultivation and processing license:
- Notable importer of EU licensed hemp seeds;
- Access to 400 acres of fertile agricultural land located in the Castelo Branco region of Portugal; and,
- Progressing towards a full spectrum cannabis license;
- Colombian licences for THC/CBD production, extraction and export, as well as pending access to a European Union good-manufacturing-practice-certified API facility for cannabis distillate processing;
- 90-per-cent working interest in a Greek industrial hemp license and medical cannabis pre-approval support letter:
- 16 acre land package situated within the Greek prefecture of Imathia;
- Exclusive agreement with an existing Macedonian licensed facility, permiting the cultivation, manufacturing, extraction and export of medical cannabis:
- 3,000,000 square feet of cultivation space built under glass; one of the largest impending European cannabis facilities;
- 30 hectare land parcel in Valandovo, Macedonia
- Licenses in Bulgaria for the production, manufacturing and export of both hemp and medical cannabis;
- Leading candidacy for a United Kingdom-based medical cannabis import licence;
- Leading candidacy for an Australian late-stage medical cannabis;
- Leading candidacy for the first Argentine federal medical cannabis licence and existing supply agreements for CBD products;
Eugene Beukman, Chief Executive Officer and a Director of International Cannabis, stated: “International Cannabis is equipped with an unparalleled ability to supply the overwhelming demand for cannabis and cannabis extracts in Europe. With $1.3-trillion in annual forecasted health care expenditures, government subsidized European health care systems are primed to become the largest single market for cannabis in the world, as the liberalization of regulations in favour of plant-based medicine continue.
International Cannabis is uniquely positioned to capture significant market share, as the European THC and CBD industries continue to mature. We have tactically secured cornerstone assets Denmark and Germany- jurisdictions armed with broad insurance coverage, affording the Company the ability to realize substantially higher margins, while insulating our operations from margin compression”.
The Company’s acquisition strategy, including its proposed transaction with Wayland Group, further reinforce the ICC’s corporate mandate of:
- Optimizing its upstream, downstream, and distribution capabilities;
- Integrating operational best practices into its medical plant production, extraction, active pharmaceutical ingredient isolation and finished dose manufacturing operations;
- Executing upon its first-mover advantage in rapidly maturing jurisdictions;
- Providing a robust suite superior quality products; and,
- Championing the European consumer’s THC/CBD retail experience.
Mr. Beukman, continued: “Our extraction-ready hemp stockpiles, deep-seated understanding of regional business practices and vast Pan-European distribution footprint safeguards our ability to maximize opportunities in Europe’s emerging CBD and THC markets. The Company continues to place particular emphasis on furthering its operations in the European and LATAM regions and will look to execute an assertive acquisition strategy focused on Asia Pacific theatre over the upcoming quarter”.
ABOUT INTERNATIONAL CANNABIS
ICC International, through its subsidiaries, has operating assets and is developing a world-class platform for cultivation, extraction, formulation and distribution across the globe in the United Kingdom, Denmark, Poland, Switzerland, Germany, Macedonia, Bulgaria, Serbia, Croatia, Greece, Italy, Portugal, Malta, Colombia, Argentina, Australia, South Africa and Lesotho.
ON BEHALF OF THE ICC INTERNATIONAL CANNABIS CORP BOARD OF DIRECTORS
+1 (604) 687-2038
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Notice Regarding Forward Looking Information:
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: political changes in Canada and internationally, future legislative and regulatory developments involving cannabis in Canada and internationally, the Company’s ability to secure distribution channels in international jurisdictions, competition and other risks affecting the Company in particular and the cannabis industry generally.
The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward- looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.