2018 Highlights to Date:
VANCOUVER, British Columbia, May 01, 2018 (GLOBE NEWSWIRE) -- 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.”
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.