ICC International Cannabis Corporation
TSX VENTURE : ICC

ICC International Cannabis Corporation

April 07, 2017 08:20 ET

ICC Announces Update on Uruguayan Recreational Cannabis Registration and Timing of First Sales

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 7, 2017) -

Note to Editors: There is a photo associated with this press release.

ICC International Cannabis Corporation (TSX VENTURE:ICC) ("ICC" or the "Company") is pleased to announce that the Government of Uruguay has taken the next step in implementing the recreational cannabis regime. On April 6, 2017, the Government of Uruguay announced that recreational cannabis users can commence registering with the national registry system on May 2, 2017. The Government of Uruguay also announced that it was expected that sales of recreational cannabis would commence in July, 2017 through registered pharmacies.

"Uruguay is on the cusp of becoming the first country to implement a nationally recognized recreational cannabis regime. We have seen the progression of this legislation and the impact it has had globally on other countries that are now considering similar recreational cannabis regimes," commented Guillermo Delmonte, Chief Executive Officer of ICC. "We are very excited about being pioneers in the recreational cannabis industry while we continue to develop the Company's plans to become one of the world's largest and lowest cost producers of CBD and by-products for medicinal purposes."

Currently, ICC has 200 kilograms of recreational cannabis in stock at its 70,565 sq. ft. greenhouse facilities. At full capacity, these facilities will allow the Company to produce up to 10 tonnes per year.

"ICC continues to work closely with the Government of Uruguay to ensure the successful roll-out of the recreational cannabis regime in July, 2017," commented Guillermo Delmonte, Chief Executive Officer of ICC.

ABOUT ICC INTERNATIONAL CANNABIS CORPORATION

The Company has operations in Uruguay, and is focused on the licensed production, development and sale of recreational cannabis, cannabinoid extracts and by-products for medicinal uses and industrial hemp. For more information, please see www.intcannabiscorp.com.

Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including the Company's ability to obtain any requisite regulatory approvals. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.

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Contact Information

  • ICC International Cannabis Corporation
    Guillermo Delmonte
    Chief Executive Officer and Director
    598-2900-0000
    ir@intcannabiscorp.com