Highlights:
- ICC Labs’ obtained organic certification for its Canelones site, which should allow it to develop high quality pharmaceutical grade products
- First outdoor harvest of hemp is expected to start next week, with harvesting to take one month
- CO2 CBD Extraction Laboratory is almost 90% complete in Uruguay’s Free Trade Zone “Science Park”
VANCOUVER, British Columbia, May 11, 2018 (GLOBE NEWSWIRE) -- ICC Labs Inc. (“ICC Labs” or the “Company”) (TSX-V:ICC) (Frankfurt:2Q9) is pleased to announce that its wholly-owned subsidiary, Tersum S.A., obtained a 100% organic certificate for hemp (Cannabis Sativa) from the Organización Internacional Agropecuaria. The certification applies to hemp produced at the Company’s Canelones site in Uruguay, where the Company is authorized by the Ministry of Agriculture to grow hemp on up to 101 acres.
The organic certification was completed in accordance with the terms of the United States-Canada Organic Equivalence Arrangement. The certificate continues in effect until surrendered, suspended or revoked.
"Becoming certified organic shows our commitment to producing high quality and chemical free products. We are growing at our Canelones site without the use of pesticides, synthetic nutrients, and without irradiation or cold pasteurization. Although we seek to be a large scale producer, our focus still remains on quality of product," commented Alejandro Antalich, Chief Executive Officer of ICC Labs.
The Company is also preparing to start its first outdoor harvest of hemp in Uruguay next week. The Company had planted three different strains of hemp for its initial outdoor crop so as to test their various attributes and behaviors under Uruguayan geo-climatic conditions. The Company expects the harvest to be completed one month after commencement.
Alejandro Antalich, added, “Our first outdoor harvest will give our technicians the opportunity to discover the behavior of the three different strains that we have cultivated. In Uruguay, we are growing and producing according to high quality standards, such as Good Agricultural Practices (GAP) and, with respect to the Canelones site, our newly obtained organic certification. Further, construction of our 33,175 sq. ft. CO2 CBD extraction laboratory in accordance with Good Manufacturing Practices (GMP) is proceeding and we estimate that it is almost 90% complete.”
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 cannabinoids extracts, giving support and promoting the responsible use for medicinal purposes, backed by scientific research and innovation, while following strict compliance and the highest standards for quality and safety.
For more information, please visit www.icclabs.com.
Contact:
ICC Labs Inc.
Alejandro Antalich, Chief Executive Officer
t: 598-2900-0000
e: ir@icclabs.com
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, production and sale of organic products, the successful completion of its first outdoor harvest and ICC’s ability to complete the construction of its extraction laboratory. 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.