IGC Provides Corporate Updates
March 26 2019 - 9:00PM
Business Wire
India Globalization Capital, Inc. (NYSE:IGC) announces today
that, as of Wednesday, March 27, 2019, Hyalolex™, the Company’s
cannabinoid-based, non-FDA approved product designed to assist in
helping improve the lives of patients suffering from Alzheimer’s
disease, will be available for purchase in select dispensaries in
San Juan, Puerto Rico. The MSRP for a 30 ml bottle of Hyalolex™ is
$55.00. For more information about Hyalolex™, visit the Company’s
recently updated website at hyalolex.com.
The Company will host a doctor-patient education conference on
Saturday, March 30, 2019, from 9:00 a.m. to 5:00 p.m., in San Juan,
featuring several speakers.
On January 24, 2019, the Company terminated its Licensing
Agreement with DaMa Pharmaceutical, LLC, with a 90-day notice
period, with the termination effective April 24, 2019, and the
parties were unable to negotiate a replacement agreement. DaMa
Pharmaceutical is not presently involved in the launch of Hyalolex™
in Puerto Rico.
On March 22, 2019, the Company launched a new website where
customers can place orders for wholesale hemp crude extract, hemp
distillate, or hemp isolate, subject to certain terms and
conditions, including compliance with applicable local laws and
regulations. For more information about Holi Hemp, visit
holihemp.com.
The Company further announces that, due to the U.S. Food &
Drug Administration’s current general prohibition on the
distribution of CBD-infused drinks, the Company has elected to
terminate its Strategic Distributor & Partnership Agreement
with Treasure Network SDN BHD, related to the sugar-free energy
drink, Nitro G, effective March 26, 2019.
About IGC:IGC has two lines of business: infrastructure
and hemp-derived medical cannabis/industrial hemp. The company is
based in Maryland, U.S.A. Our website: www.igcinc.us. 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,
failure to commercialize one or more of the technologies of IGC,
general economic conditions that are less favorable than expected,
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/20190326006038/en/
Claudia Grimaldi301-983-0998
IGC Pharma (AMEX:IGC)
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