Cannabis
Stock News: ICC (TSX VENTURE: $ICC) Provides Operational Update and Next Steps
in Establishment of a Low Cost, High Volume CBD Production Infrastructure
Highlights:
- 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.
Contact Information
C International Cannabis Corporation
Guillermo Delmonte
Chief Executive Officer and Director
598-2900-0000
ir@intcannabiscorp.com
www.intcannabiscorp.com
Guillermo Delmonte
Chief Executive Officer and Director
598-2900-0000
ir@intcannabiscorp.com
www.intcannabiscorp.com
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