IGC Opens Marketing and Research Hub in Colombia
October 04 2019 - 7:00AM
Business Wire
Targets Expansion of Products to Latin
America
India Globalization Capital, Inc. (NYSE: IGC) announced today
that it has opened a marketing and research office in Colombia,
South America. Hamsa Biochem SAS, a new beneficially owned
subsidiary of IGC, will focus on marketing and research initiatives
to advance Hyalolex™, Holi Hemp™, and other products in Latin
America and among the greater Hispanic community in the United
States, in compliance with applicable law and regulations.
Hyalolex™, which is currently available in more than 40
dispensaries in Puerto Rico, is based on a formulation described in
a patent filing acquired from the University of South Florida (USF)
in 2017, with pre-clinical research that indicates that micro-doses
of cannabis, in combination with other natural compounds, may be
beneficial to Alzheimer’s cell lines and to memory in transgenic
mice.
As described in our September 19, 2019 press release, we are
advancing our research into using micro-dosing of cannabis to treat
patients suffering from Alzheimer’s disease through a proposed
medical phase II trial on humans. Approximately 5.5 million people
in America suffer from this devastating illness, with the Latino
population having a statistically higher propensity for contracting
the disease.
Hamsa Biochem will focus on three goals – (1) expanding the
distribution of the Company’s products into Latin America, (2)
securing a low cost-basis for procuring raw materials like CBD
(cannabidiol) and hemp extracts, and (3) advancing the Company’s
research platform for uses including medical trials and advanced
natural product chemistry.
“We chose Colombia because of its favorable climate and
supportive legal framework for growing and processing legal
cannabis. Colombia also provides a significantly lower-cost
platform compared to North America for growing, processing, and
procuring raw materials like hemp and hemp extracts, including
cannabinoids like CBD. As we expand product offerings, we expect
our presence in Colombia will help facilitate our distribution
channels to South America,” stated IGC CEO Ram Mukunda.
About IGC
IGC has two lines of business, infrastructure and plant and
cannabinoid-based products. The company is based in Maryland,
U.S.A. IGC’s corporate website is www.igcinc.us; www.igcpharma.com; Twitter @IGCIR
Forward-looking Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934.
These forward-looking statements are based largely on IGC’s
expectations and are subject to a number of risks and
uncertainties, certain of which are beyond IGC’s control. Actual
results could differ materially from these forward-looking
statements as a result of, among other factors, competitive
conditions in the industries in which IGC operates, changes in the
laws or regulations applicable to our business lines, failure to
commercialize one or more of the technologies of IGC, general
economic conditions that are less favorable than expected, general
political conditions in Latin America and South America that may
impact our ability to commercialize and/or distribute our products
in those regions; modification of beneficial ownership rights
and/or failure to obtain title ownership of Hamsa Biochem under
Colombian law; the Federal Food and Drug Administration’s (FDA)
general position regarding cannabis and hemp-based products and our
products in particular, unfavorable or inconclusive medical trial
results, and other factors, many of which are discussed in our SEC
filings. In light of these risks and uncertainties, there can be no
assurance that the forward-looking information contained in this
release will in fact occur.
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version on businesswire.com: https://www.businesswire.com/news/home/20191004005078/en/
Claudia Grimaldi Email: info@igcinc.us
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