ICC Labs Files Results for the Year Ended December 31, 2017
May 01 2018 - 9:02AM
2017 Highlights:
ICC Labs Inc. (“
ICC Labs” or the
“
Company”) (TSX-V:ICC) (Frankfurt:2Q9) is pleased
to announce it has filed its audited financial results for the year
ended December 31, 2017.
The audited financial statements and management
discussion and analysis for the three months and year
ended December 31, 2017, will be available on the System for
Electronic Document Analysis and Retrieval
(“SEDAR”) at www.sedar.com and on ICC Labs’
website at www.icclabs.com.
“2017 was a transformational year for the
Company with the commencement of sales of recreational cannabis in
Uruguay, the development of more than 400 acres of high CBD hemp
production, and breaking ground on South America’s first fully
licensed CBD extraction laboratory, which is being built in
accordance with international Good Manufacturing Practices (GMP)
specifications”, commented Alejandro Antalich, Chief Executive
Officer of ICC Labs. “ICC Labs will continue to expand its
production footprint through its Colombian operations and seeks to
become Latin America's leading, fully-integrated and low-cost
producer of cannabinoid pharmaceutical grade products for medicinal
use.”
Investor Relations
The Company is pleased to announce that it has
engaged Hybrid Financial Ltd. (“Hybrid”) to
provide strategic investor relations and shareholder communications
services with respect to the European market. Hybrid is a sales and
marketing company, with offices in Toronto and Montreal, Canada.
Under the terms of the engagement, which is for an initial three
month term, Hybrid will be paid a one-time fee of €15,000 and a
recurring fee of €25,000 per month. Hybrid will also be granted
options to purchase up to 300,000 common shares in the capital of
the Company with a five year term and an exercise price of
Cdn.$1.44, vesting at a rate of 75,000 options on receipt of TSX
Venture Exchange (“TSX-V”) approval and 75,000
options thereafter quarterly. The appointment of Hybrid is subject
to the approval of the TSX-V.
Excluding certain options previously granted to
Hybrid in connection with its previously announced investor
relations services, Hybrid has no direct or indirect interest in
the Company or its securities, or any right or intent to acquire
such an interest.
ABOUT ICC LABS INC.
ICC Labs is a fully licensed producer and
distributor of medicinal cannabinoid extracts, recreational
cannabis and industrial hemp products in Uruguay as well as a fully
licensed producer of medicinal cannabis in Colombia. The Company
has active operations in Uruguay, and is focused on becoming the
worldwide leading producer of cannabinoid extracts, giving support
and promoting the responsible use for medicinal purposes, backed by
scientific research and innovation, while following strict
compliance and the highest standards for quality and safety.
For more information, please visit
www.icclabs.com.
Contact:ICC Labs Inc.Alejandro Antalich, Chief
Executive Officer t: 598-2900-0000e: ir@icclabs.com
Neither the TSX-V nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX-V) accepts responsibility for the adequacy or accuracy of this
release.
Certain statements in this press release
constitute forward-looking information. All statements other than
statements of historical fact contained in this press release,
including, without limitation, those regarding the Company’s future
production and sales, results of operations, strategy, plans,
objectives, goals and targets, and any statements preceded by,
followed by or that include the words “believe”, “expect”, “aim”,
“intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”,
“estimate”, “forecast”, “predict”, “project”, “seek”, “should” or
similar expressions or the negative thereof, are forward-looking
statements. These statements are not historical facts but instead
represent only the Company’s expectations, estimates and
projections regarding future events. These statements are not
guarantees of future performance and involve assumptions, risks and
uncertainties that are difficult to predict. Therefore, actual
results may differ materially from what is expressed, implied or
forecasted in such forward-looking statements.
Additional factors that could cause actual
results, performance or achievements to differ materially include,
but are not limited to: receipt of the requisite regulatory
approvals required and ICC Labs’ ability to close the transactions
contemplated by the various term sheets, pre-sales agreements and
letters of intent; to complete construction of its CBD extraction
laboratory; and to commence production in Colombia.
Additional information identifying risks and uncertainties is
contained in the Company’s filings with Canadian securities
regulators, and available at www.sedar.com. Management provides
forward-looking statements because it believes they provide useful
information to investors when considering their investment
objectives and cautions investors not to place undue reliance on
forward-looking information. Consequently, all of the
forward-looking statements made in this press release are qualified
by these cautionary statements and other cautionary statements or
factors contained herein, and there can be no assurance that the
actual results or developments will be realized or, even if
substantially realized, that they will have the expected
consequences to, or effects on, the Company. These forward-looking
statements are made as of the date of this press release and the
Company assumes no obligation to update or revise them to reflect
subsequent information, events or circumstances or otherwise,
except as required by law.