VANCOUVER, British Columbia, Jan. 24, 2019 (GLOBE NEWSWIRE) -- ICC International Cannabis Corp. (CSE: WRLD.U) (FWB: 8K51) (OTC: WLDCF) ("ICC" or “International Cannabis” or the “Company”) is pleased to announce that as part of its Balkan Cannabis acquisition (see ICC news release dated December 21, 2018), the Company has acquired an interest in Macedonian pharmaceutical manufacturer, Alkaloid AD Skopje (“Alkaloid”).
Alkaloid is headquartered in Skopje, Macedonia and boasts a workforce of over 1,800 employees. Skopje is Macedonia’s capital, as well as the country’s economic and metropolitan centre. Alkaloid maintains a network of 16 worldwide subsidiaries, located a variety of jurisdictions including the United States of America, Russia, Switzerland, Croatia, Slovenia, Bulgaria, and Turkey.
Alkaloid owns and operates a consortium of pharmaceutical and cosmetics manufacturing plants, including GMP certified facilities, tailored for the production of solid oral dosage forms and generic topical pharmaceuticals. Alkaloid reported revenues of over C$171 million, according to its 2017 audited financial statements1.
Alkaloid is equipped with eight decades of experience manufacturing pharmaceuticals, cosmetics, as well as processing botanical materials. Alkaloid’s pharmaceutical manufacturing facilities and research laboratories hold a portfolio of industry certifications including:
- MHRA GMP compliance certification;
- ISO 9001, ISO 14001, ISO 13485 certifications;
- HACCP certification;
- HALAL certification;
- CE marking certification; and,
- EU, JAS, USDA-NOP organic production certifications
International Cannabis’ interest in Alkaloid creates material synergies with its existing Balkan-based medical cannabis and CBD license portfolio. The Company recently announced the acquisition of Macedonian medical cannabis cultivation and extraction licenses, as well as Bulgarian medical cannabis and hemp cultivation licenses.
Alkaloid recently unveiled its 1,540 square meters Institute for Development and Control of Quality (the “Institute”). The Institute is an 8 million Euro, state-of-the-art research laboratory accoutered with revolutionary pilot-production and testing equipment. International Cannabis intends to leverage the Institute to conduct cannabinoid research and quality control testing on its Eastern European medical cannabis and CBD crops.
Eugene Beukman, Chief Executive Officer and a Director of International Cannabis, stated: “International Cannabis’ stake in Alkaloid affords the Company a dominant regional partner with over eight decades of pharmaceutical manufacturing experience. Alkaloid’s expansive GMP certified manufacturing footprint and state-of-the-art research facilities will allow International Cannabis to pursue its cannabinoid research initiatives and further refine its CBD processing competences.
The Company’s stake in Alkaloid creates material synergies with International Cannabis’ up-coming post-production, go-to-market roll out strategy. Over the past 12 months, International Cannabis has assembled the most comprehensive portfolio of international cannabis and CBD assets on the market; acquisitions and ownership interests such as this, signal its shift towards full-fledge operations”.
Alkaloid has a rich history of cosmetics manufacturing and botanical material processing. The Company is planning to draw from Alkaloid’s extensive operating experience to optimize its CBD processing capabilities. International Cannabis also plans to collaborate with Alkaloid to manufacture white-labelled CBD-based cosmetics and topical ointments. The global hemp market was valued at $5.7 billion in 2018 and is expected to increase to US$22 billion at a CAGR of 31 per cent by 20222. CBD, the active component from processed hemp, has many medical applications including CBD-based topical and cosmetics.
ICC International Cannabis, through its subsidiaries, has operating assets and is developing a world-class platform for cultivation, extraction, formulation and distribution across the globe in the United Kingdom, Denmark, Poland, Switzerland, Germany, Macedonia, Bulgaria, Greece, Italy, Portugal, Malta, Colombia, Argentina, Australia, South Africa and Lesotho.
ON BEHALF OF THE ICC INTERNATIONAL CANNABIS CORP. BOARD OF DIRECTORS
“Eugene Beukman”
Eugene Beukman
CEO, Director
+1 (604) 687-2038
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.
2 Medical Marijuana Market Analysis 2017, Grand View Research