ICC International Cannabis Corp. (CSE: WRLD.U)(FWB:
8K51)(OTC: WLDCF) ("ICC" or
“International
Cannabis” or the
“Company”) is pleased to
announce the Company has entered into an agreement with AgraFlora
Organics International Inc. (“
AgraFlora”)
(
CSE: AGRA)(FWB: PU31)(OTC: PUFXF), whereby
AgraFlora will transfer its portfolio of exotic, native Colombian
cannabis genetics to ICC for international marketing and
distribution purposes.
Eugene Beukman, Chief Executive Officer and a Director of
International Cannabis stated: “This partnership further equips
International Cannabis with the ability to provide highly coveted
Colombian cannabis flower to its distribution global network of
approximately 39,000 pharmacies and retail outlets. The transfer of
these native Colombian strains will also allow for the continued
differentiation of the International Cannabis brand in an
increasingly generic and homogenized market.”
In May 2018, AgraFlora formed a wholly owned subsidiary, Pure
Grow Medicinals S.A.S. (“Pure Grow”), to pursue cannabis
cultivation and genetics opportunities in Colombia. Pure Grow has
since been working in concert with a Cannabis Cup winner whose
strain “Medellin Gold” has received industry accolade and has,
since formation, acquired a select library of rare and exotic
native cannabis seed varieties from various regions in the
country.
The Companies genetics portfolio consists of rare, native
cannabis strains from the regions of Valle del Cauca, Cauca,
Magdalena and Antioquia in Colombia. Under the agreement, Pure Grow
is transferring to International Cannabis a library consisting of
20 unique strains that include both prominent tetrahydrocannabinol
(“THC”) and cannabidiol (“CBD”) varietals, including highly
sought-after strains such as:
- Caucana;
- Purpura;
- Medellin Gold; and,
- Maroc.
As both the World Health Organization and many countries around
the world shift their stance in favour of medical use of
CBD-dominant cannabis oils and CBD-derived products, the demand for
high-yield CBD strains is expected to increase geometrically.
“Pure Grow has assembled a unique genetic library of cannabis
native to Colombia which we believe is poised to become a valuable
asset for our company,” said Derek Ivany, President & CEO,
AgraFlora Organics International Inc. “With the aim of maximizing
the value of our genetics portfolio, we have confidence in our new
partnership with ICC as they have built an extensive infrastructure
across the value chain in the international cannabis
marketplace. Their vast international presence consists of
distribution networks and various licenses in multiple
jurisdictions that will assist in introducing our genetics library
to the marketplace.”
Under the terms of the agreement, AgraFlora will retain the
rights to the genetics library for its own uses within North
America, with International Cannabis being granted exclusive rights
elsewhere globally. In consideration for the transfer of the
genetics library, the Company will issue one million common shares
of ICC to AgraFlora. The valuation of the shares will be based upon
the five-day VWAP of ICC's common shares for the five trading
sessions prior to the announcement of the agreement.
ABOUT AGRAFLORA ORGANICS INTERNATIONAL INC.
AgraFlora Organics International Inc. is a growth oriented and
diversified company focused on the international cannabis industry.
It owns an indoor cultivation operation in London, ON and is a
joint venture partner in Propagation Service Canada and its
large-scale 2,200,000 sq. ft. greenhouse complex in Delta, BC. The
Company has a successful record of creating shareholder value and
is actively pursuing other opportunities within the cannabis
industry. For more information please visit: www.agraflora.com.
ABOUT INTERNATIONAL CANNABIS
ICC International Cannabis, through its subsidiaries, has
operating assets and is developing a world-class platform for
cultivation, extraction, formulation and distribution across the
globe in the United Kingdom, Denmark, Poland, Switzerland, Germany,
Macedonia, Bulgaria, Serbia, Croatia, Greece, Italy, Portugal,
Malta, Colombia, Argentina, Australia, South Africa and
Lesotho.
ON BEHALF OF THE ICC INTERNATIONAL CANNABIS CORP. BOARD
OF DIRECTORS
“Eugene Beukman”Eugene BeukmanCEO, Director +1 (647)
427-2208info@intlcannabiscorp.com
Learn more about ICC by visiting our website
at: https://intlcannabiscorp.com/
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THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Notice Regarding Forward Looking Information:
This news release contains certain
"forward-looking information" within the meaning of applicable
Canadian securities law. Forward-looking information is frequently
characterized by words such as "plan", "continue", "expect",
"project", "intend", "believe", "anticipate", "estimate", "may",
"will", "potential", "proposed" and other similar words, or
information that certain events or conditions "may" or "will"
occur. This information is only a prediction. Various assumptions
were used in drawing the conclusions or making the projections
contained in the forward-looking information throughout this news
release. Forward-looking information includes, but is not limited
to: political changes in Canada and internationally, future
legislative and regulatory developments involving cannabis in
Canada and internationally, the Company’s ability to secure
distribution channels in international jurisdictions, competition
and other risks affecting the Company in particular and the
cannabis industry generally. The forward-looking information
contained in this release is expressly qualified by the foregoing
cautionary statements and is made as of the date of this release.
Except as may be required by applicable securities laws, the
Company does not undertake any obligation to publicly update or
revise any forward- looking information to reflect events or
circumstances after the date of this release or to reflect the
occurrence of unanticipated events, whether as a result of new
information, future events or results, or otherwise.
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