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ICC Hemp Acquisitions Bolsters European Supply Chain, Speeds Extraction -- CFN Media
SEATTLE, Feb. 13, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article covering ICC’s continued strategic plan in Europe. On Feb. 1st, International Cannabis Corp. (CSE: WRLD, OTC: WLDCF) announced an agreement to purchase 155 metric tonnes of already-processed industrial hemp from Eviana Health Corporation, along with a definitive agreement to acquire 100 per-cent of Future Hemp Corp, which holds an exclusive supply agreement for the delivery of 400 metric tonnes of certified organic hemp from a licensed Croatian producer, further bolstering its European supply chain.
The processed, extraction-ready hemp will be transported to Eviana’s Serbian facilities for immediate extraction, and by utilizing new extraction technology purchased by Eviana and integrated with their existing extraction equipment, the company expects to convert the 155 metric tonnes into high-quality, organic CBD oils within 200 days. Harvesting the 400 tonnes of Future Hemp’s certified organic hemp is expected to take place in September 2019 and upon completion, the product will be sorted, processed, then transported for extraction and distribution.
The immediate addition of already processed hemp for conversion into high-quality, organic CBD oils enables ICC to expedite the fulfillment of its growing purchase orders. Marketing and selling CBD products derived from its Serbian and Croatian industrial stockpiles is intended to maximize profitability through ICC’s portfolio of brands and existing distribution network of over 39,000 European pharmacies, and will signal the launch of International Cannabis’ dedicated European sales campaign announced in November.
Europe’s Emerging Market a Huge Opportunity
Europe’s population of over 740 million presents a potential market twice the size of the US and Canadian markets combined, a market experiencing supply shortages and still in its infancy compared to North America’s, presenting an immense opportunity for companies like ICC with the foresight to establish an early presence.
Eugene Beukman, ICC CEO and Director said, “These strategic acquisitions crystallize the Company’s ability to consistently supply our pan-European distribution network with a suite of organic CBD products. The now secured hemp inventories equip International Cannabis with the ability to deliver product to our distribution network starting in Q2 2019. With ample stockpiles of processed hemp already in hand, this unique marriage with ICC’s distribution assets creates a truly synergistic union for shareholders of both companies, which we are tremendously pleased to have architected to begin 2019.”
Cannabidiol (CBD) oil is all the rage these days with products offered by many leading CBD oil companies containing the stuff flooding the global market. Much touted as a cure-all for multiple health problems from anxiety to pain and nausea; CBD oil is being added to a wide range of consumer items including vape oils, bath bombs, body lotions, and other beauty products. They’re currently being sold online, in vape shops, by health food stores, and at some grocery stores. CBD is most commonly offered in a tincture or capsule, however an increasing number of brands are now offering CBD in a salve or cream for direct application to the skin. Direct application of CBD to the problem area allows it to bypass the digestive system and begin working where it is needed.
The CBD market has seen much faster growth than any other aspect of the cannabis industry, predicted by all industry analysts to become a multi-billion-dollar industry by 2020. The hemp-derived CBD market is forecast to be especially lucrative, and a 2017 report by Brightfield Group predicted a per annum increase of 55% over the next five years alone.
Beukman added, “This grants the company additional ability to post significant operating numbers in 2019 and secure its first-mover advantage in what is probably the world’s largest and most important unified market for CBD products. By combining a material stockpile of already processed hemp with a steady pipeline of organic hemp available for harvest, ICC is fully equipped to execute upon its 2019 and 2020 purchase order obligations. Organic CBD isolate is currently trading within the European Union at 12,000 Euro equivalent per kilogram, translating to hundreds of millions of dollars of realizable revenues to ICC. By further formulating and branding into a market starved for product, the company could geometrically multiply this figure.”
ICC now boasts a local presence in 13 European states via licensing of take-off agreements, a supply of product ready for sale in Q2, world class brands soon to be announced, an experienced operational team as a result of ICC’s January 49.9% acquisition of Wayland Group, enabling the formulation and production of additional product lines, and Europe’s first dedicated insurance program for medical cannabis patients through an agreement with Buywell Care.
With an established presence on five continents, 160 clients representing roughly 3500 pharmacies in 16 countries, licenses for cultivation on three continents and access to over 1250 acres of premium hemp crops, International Cannabis is well on it way to creating the first truly global cannabis supply chain and will be one to keep on your radar as the year progresses.
For more information, please visit https://intlcannabiscorp.com/
Please follow the link to read the full article: https://www.cannabisfn.com/icc-hemp-acquisitions-bolsters-european-supply-chain-speeds-extraction/
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