VANCOUVER, British Columbia, Oct. 04, 2018 (GLOBE NEWSWIRE) -- ICC International Cannabis Corp. (CSE: WRLD) (FWB: 8K51) (OTC: KNHBF) ("ICC" or the “Company”) is pleased to announce that it has commenced construction of its Colombian Cannabis Centre of Excellence (the “Centre of Excellence” or “COE”). The Company’s COE will serve as headquarters for the Company's flagship property (the "Cannabis Park"); located in the heart of the Bogota Savannah in Funza, Colombia.
The COE’s mission is to advance ICC’s craft Cannabis cultivation capabilities. Once complete, the COE will act as a collaboration facility, where renowned industry growers, geneticists and service providers can assemble and pursue revolutionary Cannabis centric projects and initiatives. It is ICC’s belief that the COE will assist in catapulting Colombia into a world-class Cannabis cultivation jurisdiction.
ICC holds licences to cultivate, produce, hold, sell and export cannabis and its by-products (see ICC news release dated June 22, 2018). Colombia has become a highly sought-after jurisdiction for cannabis cultivation activities as it has a world-leading combination of broad public and private sector acceptance, ideal growing conditions, and a massive addressable market.
ICC previously acquired 13 hectares of optimal agricultural land located in Funza, the heart of the Bogota savanna, which is also one of the safest areas in Colombia. It is conveniently located within a 20-kilometre drive to Bogota's international airport. The lease on this land has been prepaid for a period of 10 years.
Phase 1 of the Cannabis Park construction is currently underway; highlighted by a one hectare, polycarbonate greenhouse. Once Phase 1 is complete, ICC will begin test trials of its ten primary Cannabis strains. These test trials will assist in solidifying ICC’s Colombian cultivation and production quotas. Upon completion of the test trials, ICC will present its findings to Colombian officials who will then award the Company its finalized quotas.
ICC’s Colombian Cannabis Park is forecasted to produce between 25,000 and 40,000 kilograms of dried Cannabis flowers per year. Once fully optimized, ICC’s Colombian assets are projected to generate up to 500,000 kilograms of dried Cannabis flower per annum.
Eugene Beukman, chief executive officer and director of ICC, stated: “ICC is extremely pleased that our vision for Cannabis Park is beginning to take shape with the construction of the Cannabis Centre of Excellence. We envision Cannabis Park as a place where the finest minds in the science and art of Cannabis cultivation and production will gather for the benefit of the industry as a whole. We believe that our commitment to the Centre of Excellence for reflects ICC’s stated objective of being at the vanguard of Cannabis science. This marks our first step to becoming a major world wide producer of premium recreational and medicinal Cannabis."
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.