VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 18, 2017) - ICC International Cannabis Corporation ("ICC" or the "Company") (TSX VENTURE:ICC) is pleased to announce that it has entered into an Importation Agreement with ARA - Avanti Rx Analytics Inc. ("Avanti"), a licensed dealer under the Controlled Drugs and Substances Act (Canada) and its regulations overseen by Health Canada.
"We are pleased to enter into the Importation Agreement with Avanti with a view to working together to provide Canadians with a broader supply of cannabidiol ('CBD') oil and cannabis extract oils, and other related products from our Uruguayan operations at competitive price points," commented Guillermo Delmonte, Chief Executive Officer of ICC. "In addition, Avanti brings to the table extensive knowledge and expertise in the field of quality control, cannabis extraction, and CBD purification. The business relationship with Avanti is expected to allow ICC to leverage Avanti's dealer license and laboratory facilities in order to facilitate sales in Canada, and represents a positive next step in ICC's strategy to export to global markets where lawful."
The Importation Agreement establishes a non-exclusive contractual business relationship between ICC and Avanti where Avanti agrees to act as a Canadian importing agent for ICC for its cannabis products and distributor to customers identified by ICC from time to time. Avanti has also agreed to act as a Health Canada GMP approved contract analytical lab in Canada for ICC's CBD oil. The activities contemplated by the Importation Agreement remain subject to applicable regulatory approvals, including those from the TSX Venture Exchange, the Instituto de Regulación y Control del Cannabis ("IRCCA"), the Uruguayan Ministry of Livestock, Agriculture and Fishery and Health Canada.
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.
ABOUT ARA - AVANTI RX ANALYTICS INC.
Avanti specializes in the field of controlled drugs and substances particularly in the area of medicinal marihuana, hemp, cannabinoids, and marihuana based concentrated products.
Avanti offers a comprehensive menu of services ranging from analytical R&D and quality control testing, cannabis extraction under controlled environment, cannabinoids purification, cannabis infused-product formulation, packaging, and cannabis waste management by means of material denaturation, as well as the quality assurance and regulatory consulting.
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: (i) the Company's ability to obtain the requisite regulatory approvals in Canada and Uruguay, including approvals from the TSX Venture Exchange, Health Canada, the Uruguayan Ministry of Livestock, Agriculture and Fishery and IRCCA; (ii) the Company's ability to produce the requisite cannabis products for export; (iii) the agricultural risks associated with cannabis production in Uruguay; and (iv) the ability to sell its cannabis products at competitive price points. 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 the Canadian securities regulators, which filings are available at www.sedar.com.