ICC International Cannabis Corporation
TSX VENTURE : ICC

ICC International Cannabis Corporation

May 30, 2017 09:10 ET

ICC Files Results for the First Quarter Ended March 31, 2017

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 30, 2017) -

First Quarter Highlights:

  • Registration of recreational users commenced May 2, 2017 and recreational sales are expected to commence in July 2017.
  • Completed 21,528 sq. ft. greenhouse to increase cannabis production to be used for the extraction of cannibinoids.
  • Commenced production of medicinal operations with 4,000 plants initially being grown in the greenhouse.
  • Entered into Presale Agreement and MOU with Emblem Corp. (TSXV: EMC) to establish a CBD importation framework.
  • Included in first medical marijuana ETF, Horizons Medical Marijuana Life Sciences ETF (TSX: HMMJ).
  • Entered into Importation Agreement with ARA - Avanti Rx Analytics to enable access to Canada and other export markets.

ICC International Cannabis Corporation ("ICC" or the "Company") (TSX VENTURE:ICC) is pleased to announce it has filed its audited financial results for the first quarter ended March 31, 2017.

The financial statements and management discussion and analysis for the three months ended March 31, 2017, will be available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com and on ICC's website at www.intcannabiscorp.com.

"The Company remains focused on delivering the first sales of recreational cannabis through Uruguay's registered pharmacies. We are pleased to see the registration process for recreational purchases continuing according to schedule and are looking forward to delivering our product to pharmacies for onward sale to consumers in July. We are also pleased to report substantial progress in both the production and sales aspects of our medicinal extracts operation. With both greenhouse and outdoor production, we are leveraging Uruguay's superior growing environment and the expertise and capacity derived from our recreational unit to become the leading low cost producer of cannabidiol (or CBD) and other derivatives used for medicinal purposes," 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 other derivatives used for medicinal purposes and industrial hemp. For more information, please see the Company's filings on www.sedar.com and 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 and commence sales of recreational cannabis. 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.

Contact Information

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