VANCOUVER, British Columbia, Oct. 01, 2018 (GLOBE NEWSWIRE) -- ICC International Cannabis Corp. (CSE: WRLD)(FWB: 8K51)(OTC: KNHBF) ("ICC" or the “Company”) is pleased to announce it has received notice that the Greek Government is performing its final review on ICC’s Greek medical Cannabis cultivation application. The Company expects to receive final approval from the Greek Government in the coming weeks.
ICC controls a 16-acre land parcel situated in northern Greece, which upon receipt of the medicinal cannabis licence will be dedicated to medical grade cannabis cultivation, extraction, distribution, as well as research and development (see ICC news release dated August 8, 2018). ICC’s distribution network of approximately 35,000 pharmacies throughout 16 countries will complement the Company’s Greek cultivation capabilities.
Greece is a European Union (the “EU”) member country and will operate as ICC’s Southern European cultivation and production hub. The EU has a population of approximately 741 million, affording ICC with a unique opportunity to service this high growth marketplace. The service and tourism sectors amount to the majority of Greece’s economic output; contributing close to 85% of annual GDP. Approximately 16,500,000 tourists visit Greece each calendar year.
Eugene Beukman, chief executive officer and director of ICC, stated: “ICC eagerly awaits final approval from the Greek Government. ICC’s team in Greece has been working tirelessly to secure the first Greek medical cultivation licence granted to a non-governmental organization. Through collaboration with ICC, Greece is presented with a unique opportunity to expedite the realization of the benefits of a legalized cannabis industry.”
Upon receiving final approval from the appropriate Greek authorities, ICC plans to break ground on the construction of three cultivation, processing and extraction structures with a total footprint of 97,000 square feet.
ICC’s flagship 34,000-square-foot structure will consist of the following:
- Six separate, self-contained flower rooms;
- Two separate, self-contained vegetation rooms;
- Self-contained mother room;
- Self-contained clone room;
- Waste and destruction facility, feed and storage unit, and irrigation control centre;
- Two separate, self-contained drying rooms; and
- Reception area, meeting rooms, four office, shipping and receiving bay, electrical room, as well as a security and screening room.
A secondary 3,000-square-foot structure will consist of the following:
- Commercial food quality fridge, commercial food quality freezer and an ADA bath facility;
- Self-contained tissue culture lab;
- Proprietary carbon-dioxide and hydrocarbon extraction facility;
- Self-contained postproduction room;
- Main packaging facility;
- Commercial grade vault;
- Primary distribution bays; and
- Computer server room and compliance office.
A third 60,000-square-foot structure will act as a polycarbonate covered greenhouse. The greenhouse will be integrated with sophisticated irrigation systems, supplemental lighting, light deprivation systems, air filtration exchanges, carbon dioxide dosing capabilities, odour control, dehumidification systems, as well as heating and cooling capabilities. ICC will implement computerized automation controls to integrate the entire growing ecosystem with the specific requirements for each strain based on bench, and/or room configurations. The proposed layout will allow for optimal expansion throughout the 16-acre property. ICC reserves the right to expand its cultivation and laboratory footprint in a discretionary nature.
ON BEHALF OF THE ICC INTERNATIONAL CANNABIS CORP BOARD OF DIRECTORS
“Michael Martinz”
Michael Martinz
President, Director
info@intlcannabiscorp.com
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Notice Regarding Forward Looking Information:
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: political changes in Canada and internationally, future legislative and regulatory developments involving cannabis in Canada and internationally, the Company’s ability to secure distribution channels in international jurisdictions, competition and other risks affecting the Company in particular and the cannabis industry generally.
The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward- looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.