VANCOUVER, British Columbia, June 13, 2018 (GLOBE NEWSWIRE) -- 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.
ICC Labs Inc.
Alejandro Antalich, Chief Executive Officer
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.