ICC Labs Announces Its First Presale Agreement in the European Market With VenPharma
June 13 2018 - 9:20AM
ICC Labs Inc. (“ICC Labs” or the “Company”) (TSX-V:ICC)
(Frankfurt:2Q9) is pleased to announce that KSK Labs, a 100%
subsidiary of Global Group Kalapa, of which ICC Labs recently
acquired 25%, subject to TSX Venture Exchange approval, has closed
a presale agreement with a Spain-based company, VenPharma, in order
to distribute cannabidiol (“CBD”) products in Spanish pharmacies
and drugstores.
VenPharma is a laboratory specialized in natural
medicine since its foundation in 1976, with more than 1,300 points
of sales in Spain. The agreed first order is of 140,000 CBD
products between sublingual CBD oils of 2% and 10%, CBD creams and
infusions based on hemp, to be distributed through 500 point of
sales. The intention with the next orders is to sell over than
370,000 CBD products annually through all the 1,300 points of
sales.
“This agreement, together with the one we
announced three weeks ago, through which we are going to export CBD
and tetrahydrocannabinol (“THC”) products into Germany, allow us to
accelerate the execution of our business plan and global
distribution strategy.
“We are very satisfied with our recent
investment in Kalapa which evidences the significant potential of
our global expansion strategy, joining forces with a serious and
committed partner,” commented Alejandro Antalich, Chief Executive
Officer of ICC Labs.
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 responsible use for medicinal purposes, backed by
scientific research and innovation, while following strict
compliance with 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, including from the TSXV, production and export
of CBD, THC and medicinal products, and ICC’s ability to commence
operations in Colombia or sales in Europe. 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.