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Integrated Cannabis Company, Inc. Enters into Licensing Agreement for Cannabidiol (CBD) Gummy Formulation
VANCOUVER, British Columbia, Oct. 25, 2018 (GLOBE NEWSWIRE) -- Integrated Cannabis Company, Inc. (CSE: ICAN, OTCQB: ICNAF) (“Integrated Cannabis”), is pleased to announce an agreement to license Cannabidiol (CBD) formulated gummies.
Integrated Cannabis plans to begin distributing CBD-based gummies through its contract manufacturer, Titration Technologies, in Phoenix, Arizona. Each gummy will contain 10mg of CBD - the non-psychoactive component of cannabis - and will be 100% vegan, utilizing all natural ingredients.
Demand for gummies is significant and the Company believes there is an unmet demand for a plant-based product, which continues to grow for the quality conscious consumer. The creation of this product has taken months of innovation and realized many iterations in order to render the resulting taste and texture we believe to be superior to other gummy products in the market.
“Gummies are an excellent way to introduce CBD to an older demographic that is typically wary of cannabis products. Our gummies will provide an approachable delivery method, that is easy to consume and with a great taste. We expect the bulk of the sales to take place online but also have plans to distribute through our existing networks to brick and mortar stores in Colorado and throughout the United States. We also plan to expand and introduce a product line of THC formulated gummies upon licensure approval”, said John Knapp, CEO of Integrated Cannabis.
About Integrated Cannabis Company
Integrated Cannabis Company, Inc. is comprised of dedicated scientists and product engineers who are passionate about health and creating health and lifestyle products utilizing advanced delivery systems and formulations. For more information, please visit the company’s website at: www.x-sprays.com.
ON BEHALF OF THE BOARD
Chief Executive Officer
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Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.