Proactiveinvestors Australia ICC International Cannabis Corp. https://www.proactiveinvestors.com.au Proactiveinvestors Australia ICC International Cannabis Corp. RSS feed en Wed, 17 Jul 2019 18:39:03 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - International Cannabis to acquire AgraFlora’s Colombian pharmacy operation for $250,000 in stock ]]> https://www.proactiveinvestors.com.au/companies/news/221045/international-cannabis-to-acquire-agrafloras-colombian-pharmacy-operation-for-250000-in-stock-221045.html ICC International Cannabis Corp (CSE:WRLD.U) (OTCMKTS:WLDCF) announced Tuesday that it has inked a pact to acquire AgraFlora Organics International Inc’s (CSE:AGRA) (OTC: PUFXF) Colombian pharmacy operation, Farma Swiss S.A.S for $250,000 in stock.

Through the all-stock deal, International Cannabis will get control over a coveted brick-and-mortar business in Latin America, as well as existing high-profile commercial agreements, further boosting the company’s cannabis cultivation capabilities and logistical infrastructure.

READ: ICC International Cannabis, AgraFlora to bring native Colombian cannabis strains to the global market

The addition of a premier downstream Colombian asset, the company said in a statement, secures a platform for the distribution of medical cannabis and cannabinoid-derived products within Colombia.

Farma Swiss operates a licensed pharmacy strategically situated within a high traffic, commercial neighbourhood of Medellin, Colombia. Farma Swiss’ fully licenced pharmacy operation is equipped with ancillary, value-added services which include:

 • An inbound prescription call centre, augmented by advanced supply chain and CRM software suites

 • A domestic delivery service, providing local clientele with an array of medical and over-the-counter products

 • Onsite health related services and consulting

 • Proposed cannabinoid education

 • Virtual channel capabilities

“The proposed acquisition of Farma Swiss represents yet another material development within the LATAM theatre for ICC,” said International Cannabis CEO David Shpilt in a statement.

Shpilt said the acquisition gave the Vancouver-based cannabis company the opportunity to leverage its “first mover advantage” within the Colombian medical cannabis market by servicing more than 5 million potential patients.

The acquisition will lead to the integration of Farma Swiss’ pharmacy platform with ICC’s 13-hectare cannabis centre of excellence and catalogue of native Colombian cannabis genetics.

“International Cannabis will continue to solidify its leadership position within Colombia’s highly competitive medical cannabis marketplace, while streamlining patients access to our unique formulations,” said Shpilt.

Transferring a library of 20 unique strains

Last month, AgraFlora transfered its portfolio of exotic, native Colombian cannabis genetics to International Cannabis for marketing and global distribution. As part of the deal, the company is transferring a library of 20 unique strains that include both prominent tetrahydrocannabinol (THC) and cannabidiol (CBD) varieties to International Cannabis. Some of the highly sought-after strains are Caucana, Purpura, Medellin Gold and Maroc.

“This strategic transaction further crystalizes our alliance with ICC with regards to our collaborative pursuit of the burgeoning global cannabis trade,” said AgraFlora Organics International CEO Brandon Boddy. “Monetizing of our flagship pharmacy operation to a trusted ally, permits us to streamline our international cannabis operations while focusing on the continued retrofit of our world class greenhouse complex in Delta, BC.”

International Cannabis said it is actively “investigating complementary pharmacy related assets” within Colombia that may serve as synergistic accompaniments to its acquisition of Farma Swiss. 

“We are excited to increase our shareholdings in ICC as they continue to execute upon their international business mandate and embark upon realizing material cash flows,” said Boddy.

ICC is developing cultivation platforms for extraction, formulation and distribution of cannabis and has operating assets in the UK, Europe, Australia, South America and Africa.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

 

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Tue, 28 May 2019 07:55:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221045/international-cannabis-to-acquire-agrafloras-colombian-pharmacy-operation-for-250000-in-stock-221045.html
<![CDATA[News - ICC International Cannabis makes US$1.5 million investment in Indus Cannabis to bring cannabinoid commercialization to India ]]> https://www.proactiveinvestors.com.au/companies/news/220072/icc-international-cannabis-makes-us15-million-investment-in-indus-cannabis-to-bring-cannabinoid-commercialization-to-india-220072.html ICC International Cannabis Corp. (CSE:WRLD.U) (OTCMKTS:WLDCF) announced Friday it has completed a US$1.5 million strategic investment in Indus Cannabis Company Corporation, a private firm pursuing cannabinoid commercialization in India.

"It is estimated that over 600 million Indians experience symptoms derived from indications which medical cannabis may treat, remedy or ultimately alleviate,” said International Cannabis CEO David Shplit in a statement.

International Cannabis, based in Vancouver, British Columbia, noted that Indus Cannabis has made several moves already to position itself to eventually bring cannabinoid-derived pharmaceutical compounds to the Indian marketplace.

READ: ICC International Cannabis strikes exclusive distribution deal with Organic Flower for access to its European retail network

The Canadian company noted that Indus Cannabis has entered into a three-year research and development partnership agreement with the Indian Institute of Integrative Medicine (IIIM), a premier national research institute under the Council of Scientific & Industrial Research of India (CSIR), that is dedicated to the discovery of pharmaceuticals derived from medicinal plants and microbial species.

IIIM and CSIR have mandated Indus Cannabis to lead efforts to detect cannabinoid-derived pharmaceutical compounds and bring them to market, International Cannabis said. Also, Indus Cannabis will work with Indian regulators to devise cannabis regulations centered on commercial production, import/export and distribution.  

READ: ICC International Cannabis taps two new members to its operations team

Indus Cannabis also anticipates it will win an Indian cannabis import/export license, which is expected to permit the export of certified medical cannabis to the European Union and the Asia Pacific region, International Cannabis said. Such a license will also enable the importation of select, high-value strains and tissue cultures from top European seed banks as well as Tier 1 Canadian licensed producers.

Once the Indian company gets the import/export license, International Cannabis said it will supply Indus Cannabis with up to 30 million grams of premium cannabis flower as well as bulk cannabis resin, bulk CBD isolate and bulk CBD distillate for research and development and eventual commercialization.

International Cannabis also said Indus Cannabis will build a factory to grown and package EU-compliant cannabis and that it has right-of-first-refusal to purchase a portion of Indus Cannabis’ cannabis production at cost plus 20% and will distribute the product in Europe. And once the license is granted, International Cannabis will have co-ownership of data derived from the company’s cannabinoid clinical trials and all cannabis product formulations developed by Indus Cannabis. And International Cannabis has been granted a call-option for further equity participation in IndusCann Private Ltd. for an additional US$4 million.

With a diversified portfolio of subsidiaries, International Cannabis has cultivation, extraction, formulation and distribution assets in the UK, Denmark, Poland, Switzerland, Germany, Macedonia, Bulgaria, Greece, Italy, Portugal, Malta, Colombia, Argentina, Australia, South Africa and Lesotho.

Shares of International Cannabis recently trade up 4.6% to US$0.27 on OTC markets.

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

 

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Fri, 10 May 2019 12:22:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220072/icc-international-cannabis-makes-us15-million-investment-in-indus-cannabis-to-bring-cannabinoid-commercialization-to-india-220072.html
<![CDATA[News - ICC to sell CBD products across Europe under Marilyn Monroe and Elvis brand names ]]> https://www.proactiveinvestors.com.au/companies/news/216783/icc-to-sell-cbd-products-across-europe-under-marilyn-monroe-and-elvis-brand-names-216783.html ICC International Cannabis Corp (CSE:WRLD.U) (OTCMKTS:WLDCF) is set to market and distribute its cannabidiol (CBD) health and wellness products across Europe under an array of such famous names as Marilyn Monroe and Elvis Presley thanks to a new licensing agreement with Authentic Brands Group.

The Vancouver cannabis company is hoping to leverage this new repertoire of brands to capture market share in Europe, where it boasts operating licenses in 13 countries. In addition to its marketing impact, the ABG partnership offers access to tens of thousands of distribution channels and points of sale where existing offerings can be sold alongside CBD products.

In response to the news, ICC International Cannabis shares rose 2.4% to hit $0.34 in Tuesday's afternoon trading.

READ: ICC International Cannabis on a quest to capture market share

“We believe that whether consumers are familiar with CBD or are first-time users, they will gravitate towards these recognizable brand names that already resonate strongly across other key categories, rather than a newly created branding effort, or niche so-called millennial brands, which is a path many other companies are taking,” Eugene Beukman, CEO and a director of International Cannabis, said in a statement.

Other brands recently licensed by ICC are named after golfing great Greg Norman and the lingerie purveyor Frederick’s of Hollywood.

“We believe in the extraordinary potential of the CBD category and look forward to collaborating with ICC to launch these brands in CBD across the European market,” said Daniel Dienst, executive chairman with ABG.

The licensing agreement with ABG was struck on March 18 and lasts for 10 years.

READ: ICC International Cannabis announces two strategic hemp deals, which will allow it to start fulfilling orders

Headquartered in New York, Authentic Brands is a brand development and entertainment company that owns an extensive portfolio of brands.

ICC International Cannabis, meanwhile, is developing an international platform for cannabis cultivation, extraction, formulation and distribution, with operations in the UK, Denmark, Poland, Switzerland, Germany, Macedonia, Bulgaria, Serbia, Croatia, Greece, Italy, Portugal, Malta, Colombia, Argentina, Australia, South Africa and Lesotho.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Tue, 19 Mar 2019 12:31:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216783/icc-to-sell-cbd-products-across-europe-under-marilyn-monroe-and-elvis-brand-names-216783.html
<![CDATA[News - ICC International Cannabis on a quest to capture market share ]]> https://www.proactiveinvestors.com.au/companies/news/215137/icc-international-cannabis-on-a-quest-to-capture-market-share-215137.html ICC International Cannabis Corp (CSE:WRLD.U) (OTCMKTS:WLDCF) has stepped up efforts to gain market share in the cannabis space.

In an update to investors Friday, the company talked up its medical cannabis and cannabidiol (CBD) portfolio.

Over the past three quarters, the Vancouver company has embarked on an aggressive acquisition strategy, which includes an agreement to acquire 49.9% of Wayland Group Corp’s international assets and license portfolio.

READ: ICC International Cannabis announces two strategic hemp deals, which will allow it to start fulfilling orders

“International Cannabis is uniquely positioned to capture significant market share as the European THC and CBD industries continue to mature,” said Eugene Beukman, CEO and a director of International Cannabis. “We have tactically secured cornerstone assets in Denmark and Germany – jurisdictions armed with broad insurance coverage, affording the company the ability to realize substantially higher margins, while insulating our operations from margin compression.”

Upon the closing of the Wayland deal, ICC will boast an array of new operations, partnerships, licenses and assets.

On the list of what it will acquire are a German medical cannabis import license as well as a Danish medical THC cultivation and manufacturing facility. It will also gain an 820,000 square foot production facility in Ebersbach, which is just outside of Dresden, Germany.

The Wayland partnership will help to widen ICC’s business across continental Europe as it will also provide a Polish hemp processing and extraction license; a Portuguese hemp cultivation and processing license; a Maltese license to manufacture medical cannabis; a  license in Bulgaria for the production, manufacturing and export of hemp and medical cannabis; and a 60,000 square foot Swiss cannabis cultivation facility.

The company is moving into Africa too, with the gaining of licenses for medical cannabis cultivation, manufacturing, distribution and import/export in the Kingdom of Lesotho. It is also picking up supply agreements to provide cannabis products to over 2,800 independent and corporate pharmacies across South Africa.

Colombia is in its sights as well, as ICC is securing licenses for THC/CBD production, extraction and export in the country.

Lastly, the company is looking to acquire medical cannabis licenses in the UK, Australia and Argentina.

ICC International Cannabis shares closed up 2.8% to hit C$0.36 on Thursday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Fri, 22 Feb 2019 08:01:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215137/icc-international-cannabis-on-a-quest-to-capture-market-share-215137.html
<![CDATA[News - ICC International Cannabis says first purchase order is ‘significant milestone’ ]]> https://www.proactiveinvestors.com.au/companies/news/208766/icc-international-cannabis-says-first-purchase-order-is-significant-milestone-208766.html European-focused cannabis producer ICC International Cannabis Corp (CSE:WRLD, OTC:KNHBF) said Wednesday that it has received its first purchase order and called it a “significant milestone.”

The order is for 10,000 milliliters of tetrahydrocannabinol (THC) cannabis oil, 5,000 grams of dried cannabis flower and 5,000 milliliters of cannabidiol (CBD) oil, the Vancouver-based company said in a press release.

READ:  ICC International Cannabis partners with Amercanex parent on globe's first cannabis market digital platform

ICC plans to fill the order during the first quarter of 2019 and expects other orders throughout the year. The company plans to market and sell its products in the 28 countries of the European Union, which has a total population of 500 million.

ICC plans to draw on Cosmos Holdings Inc.'s (OTCMKTS:COSM) distribution network, representing 35,000 pharmacies.

READ: Cosmos Holdings reports strong 2Q results thanks to booming pharmaceutical sales

"The receipt of this purchase order is a significant milestone for ICC,” said Eugene Beukman, CEO and a director of ICC, in a statement.

Shares of ICC were unchanged at $0.62 in Wednesday midday trading on the Canadian Securities Exchange.

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Wed, 07 Nov 2018 12:07:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208766/icc-international-cannabis-says-first-purchase-order-is-significant-milestone-208766.html
<![CDATA[News - ICC welcomes South African cannabis legalisation ]]> https://www.proactiveinvestors.com.au/companies/news/205374/icc-welcomes-south-african-cannabis-legalisation-205374.html ICC International Cannabis Corp (CSE:KBB) said Thursday it welcomes South Africa's recent ruling legalising the consumption of cannabis.

On September 18, South Africa's Constitutional Court unanimously voted to legalise adult cannabis consumption, as well as the cultivation of cannabis for private consumption. South Africa's Parliament is expected to amend the laws that criminalise cannabis following the Constitutional Court's ruling in the coming months.

The company said it has agreements in place to provide cannabis products to over 2,800 independent and corporate pharmacies across South Africa and also said its distribution network is complemented by the company's licences for medical cannabis cultivation, manufacturing, distribution, transport, research and import/export in the Kingdom of Lesotho.

READ: Kaneh Bosm BioTechnolgy changes name to ICC International Cannabis Corp

"ICC applauds South Africa's progressive decision to legalize adult cannabis consumption and private cultivation. The company is well positioned to capitalize on South Africa's maturing cannabis regulations, through its South African distribution infrastructure and Lesotho based cultivation and export licences," said Eugene Beukman, chief executive officer and director of ICC.

The company recently announced its engagement of leading Lesotho-based infrastructure and development consultancy firm; Volare to assist with local development efforts. In 2017, Lesotho became the first African Nation to issue licenses for medical Cannabis operations.

The Kingdom of Lesotho is an enclave of South Africa and will act as a cultivation and production hub for ICC's 2,800 South African pharmacies. Both South Africa and Lesotho are members of the South African Customs Union (SACU), which aims to maintain the free interchange of goods between member countries. Lesotho has also signed numerous international trade agreements permitting the unencumbered export of cannabis products to various jurisdictions worldwide.

It is anticipated that Lesotho will act as a staging ground for access to larger African markets including its neighbour South Africa and its population of over 55 million. Lesotho is a favourable jurisdiction for cannabis cultivation due to its rich soils, ideal climate, skilled agricultural workforce, low-cost labour, and access to key infrastructure.

Shares of ICC were at C$0.54 on Thursday. 

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Thu, 20 Sep 2018 14:38:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205374/icc-welcomes-south-african-cannabis-legalisation-205374.html
<![CDATA[News - Kaneh Bosm BioTechnolgy changes name to ICC International Cannabis Corp ]]> https://www.proactiveinvestors.com.au/companies/news/205255/kaneh-bosm-biotechnolgy-changes-name-to-icc-international-cannabis-corp-205255.html Kaneh Bosm BioTechnolgy Inc.(CSE:KBB, OTC:KNHBF) has a new name -  ICC International Cannabis Corp.

Shares will begin trading under the new name on September 20 this year (tomorrow).

As previously reported, there will be no change to the symbol, and the company's common shares will continue to trade under the ticker KBB.

Earlier this week, the cannabis group announced a strategic tie-up with  Auxly Cannabis Group Inc, which sees the latter invest C$5mln into Kaneh.

The transaction advances both businesses and Auxly will become a preferred commercial partner to Kaneh for future international and domestic cannabis ventures for ten years.

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Wed, 19 Sep 2018 12:41:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205255/kaneh-bosm-biotechnolgy-changes-name-to-icc-international-cannabis-corp-205255.html
<![CDATA[News - Kaneh Bosm BioTechnology's plans for Lesotho pick up as it hires infrastructure and development consultancy ]]> https://www.proactiveinvestors.com.au/companies/news/204747/kaneh-bosm-biotechnology-s-plans-for-lesotho-pick-up-as-it-hires-infrastructure-and-development-consultancy-204747.html Kaneh Bosm BioTechnology Inc's (CSE:KBB, OTC:KNHBF) plans for Lesotho in Africa have stepped up a gear - as it hired consultancy firm Volare.

Volare will help develop Kaneh's business, along with helping to buy land earmarked for cannabis cultivation, storage and manufacturing facilities.

READ: Kaneh Bosm BioTechnology enters Danish market with Danavian deal

It has already identified key land parcels that are well suited for agriculture and manufacturing development, noted Kaneh.

Last year, Lesotho became the first nation in Africa to issue licenses for medical cannabis operations and Kaneh Bosm's portfolio company CanAfrica holds licenses for medical Cannabis cultivation, manufacturing, distribution, transport and import/export.

"Kaneh Bosm's African developments mirror industry peers such as Canopy Growth Corporation, Supreme Cannabis Company Inc. and Aphria Inc," said chief executive Eugene Beukman.

"Earlier this year, Canopy acquired Daddy Cann Lesotho PTY Ltd for $28.8mln. Daddy Cann and Kaneh Bosm's CanAfrica have been awarded identical medical cannabis licences by the Kingdom of Lesotho.

"In March of 2018, Supreme Cannabis invested $10 million for a 10 percent stake in Lesotho's MediGrow Holdings PTY Ltd."

Kaneh Bosm also highlighted Aphria Inc's (TSE:APH) recently announced a joint venture with Lesotho-based Verve Dynamics.

Verve is set to supply high-grade low-cost cannabis isolates to the African continent and, through Aphria International's distribution network, to markets across the globe.

Kaneh also noted that it continues to complement its existing African cultivation and distribution footprint.

Most recently, the company acquired South African based Aricannabis BioTech Corp, which works on an exclusive basis with NuCare Health to provide Cannabis products to over 2,800 independent and corporate pharmacies across South Africa.

South Africa has a population of 55mln people and has announced plans through the Medicines Control Counsel for medical Cannabis distribution to South African patients.

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Wed, 12 Sep 2018 09:32:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204747/kaneh-bosm-biotechnology-s-plans-for-lesotho-pick-up-as-it-hires-infrastructure-and-development-consultancy-204747.html
<![CDATA[News - Kaneh Bosm issues 10mln shares to Cosmos in share exchange agreement ]]> https://www.proactiveinvestors.com.au/companies/news/201476/kaneh-bosm-issues-10mln-shares-to-cosmos-in-share-exchange-agreement-201476.html Pharmaceutical company Cosmos Holdings Inc. (OTCMKTS:COSM) announced Tuesday that it has entered into a share exchange agreement with Marathon Global Inc. and Kaneh Bosm BioTechnology Inc. (CSE:KBB). 

Under the agreement, Cosmos has swapped its undisclosed stake in Marathon Global for 10 million shares of Kaneh Bosm, the cannabis company that specializes in acquiring marijuana projects and cannabis-related companies. Marathon Global is a private Canadian company specializing in the supply of cannabis.

"I am pleased to announce this agreement will provide Cosmos with additional product lines, all of which we anticipate will increase revenues and profitability on a global scale. Our sales teams are already familiarizing themselves with the new product line and disseminating the details to our global clients," said Cosmos's chief executive, Gregory Siokas.

READ:Cosmos Holdings focuses on Europe as it expands its global wholesale pharmaceutical business

The 10 million shares of Kaneh Bosm owned by Cosmos Holdings constitute approximately 7% of the 141.2mln shares of Kaneh Bosm that are issued and outstanding.

Kaneh, through its subsidiaries, has agreements in place for European based pharmaceutical distribution and working interests in industrial hemp licenses in Greece, licenses to cultivate, produce, hold, sell and export cannabis and its byproducts in Colombia and the Kingdom of Lesotho, Africa.

As part of the agreement, Cosmos Holdings will distribute Marathon Global's medical cannabis products for Comos' clients in a distribution network of 160 clients, representing approximately 35,000 pharmacies in 16 countries.

Shares in Kaneh were down at C$0.44 on Tuesday. Shares of Cosmos were up 3.4% at US$7.00. 

 

 

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Tue, 24 Jul 2018 11:24:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201476/kaneh-bosm-issues-10mln-shares-to-cosmos-in-share-exchange-agreement-201476.html