VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 13, 2017) - ICC International Cannabis Corporation ("ICC" or the "Company") (TSX VENTURE:ICC) is pleased to announce that, as part of its strategic plan to become the world's largest and lowest cost producers of cannabidiol ("CBD"), it has incorporated a subsidiary in Colombia named ICC Colombia S.A.S. through which it intends to apply for a series of licenses pursuant to Article 2.8.11.2.1.2 of the Decree 613 of 2017, Article that develops Law1787 of 2016:
- Seed License: This license grants a permit for the management of seeds that can be imported, exported, stored, transported and commercialized within Colombia.
- Non-psychoactive Cannabis Cultivation License: This license grants a permit to grow non-psychoactive cannabis plants, including seeding, purchase and production of seeds, sale, distribution, export and use for scientific purposes.
- Psychoactive Cannabis Cultivation License: This license grants a permit to grow psychoactive cannabis plants, including seeding, purchase and production of seeds, sale, distribution, export and use for scientific purposes.
- Manufacturing License: This license grants a permit for the formulation and manipulation of cannabis by-products. These can imported, exported, stored, transported and marketed.
Numerous jurisdictions across South America continue to explore the decriminalization and legalization of both recreational and medical cannabis production. According to the latest news released by Colombian Government, regulations are expected to be ready in the second half of 2017. Any operations in Colombia would be subject to TSX Venture Exchange approval.
Establishing a presence in Colombia with its new subsidiary, coupled with the Company's proven production and operational expertise, further demonstrates that ICC is successfully executing on its many international strategic expansion initiatives. ICC anticipates entry into additional jurisdictions in the coming months, where lawful and subject to applicable regulatory approval.
"The ICC team is very excited by the many opportunities it is presented with as a leading producer and distributor of medical and recreational CBD products in the South American markets. We look forward to providing our insight and working closely with the Colombian government and its regulators, as they move forward towards the potential cannabis legalization in the coming months," 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. 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:
Guillermo Delmonte
Chief Executive Officer and Director
598-2900-0000
ir@intcannabiscorp.com