VANCOUVER, British Columbia, Sept. 27, 2018 (GLOBE NEWSWIRE) -- ICC International Cannabis Corp. (CSE: WRLD)(FWB: 8K51)(OTC: KNHBF) ("ICC" or the “Company”) is pleased to announce the following material progress updates in regards to its Danish Cannabis operations:
ICC controls one of twelve Cannabis cultivation and manufacturing licences in the Kingdom of Denmark (see ICC news release dated August 28, 2018). ICC’s entry into Denmark mirrors industry peers such as Canopy Growth Corporation, Green Organic Dutchman Holdings, Aurora Cannabis Inc. and CannTrust Holdings. ICC has engaged an Israeli Cannabis organic cultivation and management company, Sababa Sciences Inc. (“Sababa Sciences”). Sababa Sciences will provide end-to-end management including the implementation of advanced Israeli agricultural technologies for high quality medical Cannabis treatments.
ICC and Sababa Sciences have designed a 473,000 square foot, fully automated greenhouse facility that will meet IMC-GAP, ISO: 9001 and European GMP standards. ICC and Sababa Sciences are also developing an on-campus European GMP compliant facility utilizing advanced analytics to maximize extraction and product manufacturing processes. In addition, ICC and Sababa Sciences are planning joint research initiatives in both Israel and Denmark and will produce products that leverage a proprietary formulation and delivery technologies for the Danish market and for export.
Møeldrup is approximately 20 kilometres from the City of Viborg and is located in western Denmark. Western Denmark is a region known for its highly educated and skilled labour force, and robust agriculture community. The initial land parcel secured for development by ICC is over 2,400,000 square feet; of which 1,400,000 square feet are allocated for greenhouses and over 1,000,000 square feet earmarked for processing, extraction, research and manufacturing facilities. The land parcel is equipped with necessary utilities in close proximity including water, gas, telecommunications and electricity.
Eugene Beukman, chief executive officer and director of ICC, stated: “The Town of Møeldrup and its Mayor Ulrik Wilbek have made great efforts to host ICC and Sababa Sciences. We are proud to be working with a forward-thinking industrious town with a robust infrastructure. Since legalization on January 1, 2018, the Danish government has displayed strong support for Cannabis development, in the forms of research grants and tax incentives. ICC holds claim to premier European Cannabis assets; domiciled in a jurisdiction with a highly skilled agriculture and manufacturing workforce. With the help of Sabba Sciences, we look forward to continuing to advance our Danish operations.”
Finished Cannabis and Cannabis derivatives produced by ICC will be sold through Denmark’s retail pharmacy network. The Kingdom of Denmark has developed a program for reimbursement for Cannabis therapeutics through its national health care program. Patients can be reimbursed for their Cannabis medicine in the same manner as all other prescriptions. ICC and Sabba Sciences also boast various industry relationships that will complement future development potential throughout Scandinavia. Continued development of ICC’s Danish Cannabis portfolio will help serve both local and export market demand. ICC’s Danish assets are strategically positioned in immediate proximity to Germany, allowing for direct imports of CBD products, as well as medical Cannabis flower.
ON BEHALF OF THE ICC INTERNATIONAL CANNABIS CORP BOARD OF DIRECTORS
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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.