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ICC International Cannabis hails Denmark’s approval of bulk medical cannabis exports

The executive order builds on preliminary Danish export regulations adopted in 2018, according to ICC

An illustration of medical cannabis
The company says new regulations enhance the value of its Danish medical cannabis license

ICC International Cannabis Corp (CSE:WRLD.U) (OTCMKTS:KNHBF) said Thursday that Denmark’s approval of bulk shipments of medical cannabis in any form and quantity is a positive development for the company.

An executive order that went into effect January 1 builds on preliminary Danish export regulations adopted in 2018, which allowed for single-dosage medical cannabis exports, ICC said in a press release.

Shares of ICC climbed US$0.07, or 18%, to US$0.40 in Thursday's Canadian trading. Last month, the company’s common shares on the Canadian Securities Exchange began trading in the US currency.

READ: ICC shares begin trading in US currency on Canadian Securities Exchange

ICC said the revised export regulations enhance the value of its Danish medical license.

“Denmark is emerging as the preeminent European jurisdiction for medical cannabis cultivation,” CEO Eugene Beukman said in a statement. “International Cannabis applauds Denmark’s recent executive order.”

The company's partner Auxly Cannabis Group Inc (CVE:XLY) (OTCMKTS:CBWTF) said earlier this week that it had completed its US$15 million acquisition of an 80% stake in Uruguay-based Inverell SA.

–This story was updated to give the latest stock trading–

Contact Dennis Fitzgerald at [email protected]

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