Cannabis Stock News: ICC (TSX VENTURE: $ICC) Provides Operational Update and Next Steps in Establishment of a Low Cost, High Volume CBD Production Infrastructure
- ICC announces acquisition of large volume of CBD seeds as next step in its CBD production and extraction business.
- ICC announces acquisition of 21,528 sq. ft. greenhouse to increase medicinal cannabis production.
VANCOUVER, BRITISH COLUMBIA - April 3, 2017 (Investorideas.com Newswire) ICC International Cannabis Corporation ("ICC" or the "Company") (TSX VENTURE:ICC) is pleased to announce that as part of its strategic plan to become one of the world's largest and lowest cost producers of cannabidiol ("CBD") it has acquired 100 kilograms of "Helena" hemp seeds and has completed the acquisition of a new 21,528 sq. ft. greenhouse for its CBD cultivation and extraction business for medicinal cannabis.
CBD Seed Acquisition
"In a very competitive market for starting materials, ICC has acquired a new CBD strain as part of its plan of sowing at least 60 acres by September 2017, allowing us to produce approximately 900 kilograms of CBD crystal or equivalent product from our state-of-the art CO2 extraction plant by 2018. Although our primary focus is on producing CBD extract, we will be able to produce seeds that can be used for oil extraction, edible hemp seed or additional sowing," commented Guillermo Delmonte, Chief Executive Officer of ICC. "ICC will continue to build up its inventory of raw materials with a view of holding a wide variety of genetic strains in order to meet the diverse global demand for CBD and other cannabis products."
The "Helena" CBD strain is a monoecious homozygous variety that contains 0.07% of tetrahydro-cannabidiol (THC). It also contains between 10 and 15 tons of stem per hectare that translates into between 3 to 4.5 tons of fibre per hectare, between 7 to 10 kg of scutch per hectare, and between 800 to 1,000 kg per hectare of seeds. These seeds contain an oil content between 28% and 32% and high level protein content near 25%.
Guillermo Delmonte, commented: "There are two valuable by-products to our expected CBD production: hemp seed oil and cracked hemp fiber. Hemp seed oil is a food-grade product that is in demand and saleable globally without restriction. Hemp seed oil can also be used as a carrier oil for the pure CBD crystals. Similarly, cracked hemp fiber is also a valuable by-product that can be exported freely. Their uses are many from pulp for paper to construction materials."
Medicinal Cannabis Greenhouse
ICC has acquired a new 21,528 sq. ft. greenhouse that will be used for production of the Company's medicinal cannabis plants which will be destined for the production of CBD extracts and by-products for medicinal use. The Company estimates to have this greenhouse finished by the end of April 2017 in order to have the first medicinal plants sowed by the beginning of May 2017.
As part of the Company's plan to become the world's largest and lowest cost producer of CBD, this greenhouse will allow ICC to test different cultivars' behavior throughout the entire year and increase the production cycle of medicinal cannabis.
Working at its full capacity, the greenhouse is expected to allow the Company to work with 3,000 plants per cycle, having at least three cycles per year resulting in a minimum of 9,000 plants per year for medicinal purposes.
"With the acquisition of our CBD seed inventory and completion of our state-of-the-art greenhouse, the Company is well positioned to be a high volume and low cost producer of CBD for international export purposes," commented Guillermo Delmonte, Chief Executive Officer of ICC.
ABOUT ICC INTERNATIONAL CANNABIS CORPORATION
The Company has operations in Uruguay, and is focused on the licensed production, development and sale of recreational cannabis, cannabinoid extracts and by-products for medicinal uses and industrial hemp. For more information, please see www.intcannabiscorp.com.
Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including the Company's ability to obtain any requisite regulatory approvals. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.
C International Cannabis Corporation
Chief Executive Officer and Director
Chief Executive Officer and Director
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