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International Cannabis Corp. Bolstering European Supply Chain -- CFN Media
SEATTLE, Dec. 21, 2018 (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 International Cannabis Corporation and its advanced European strategy.
Europe’s population is twice the size of the US & Canada combined, but it's cannabis market is still in its infancy compared to North America’s. North American companies operating in more mature markets are currently scrambling to get their products to the European market, hoping to establish early dominance as the market unfolds.
Boasting an established presence on five continents, the sheer breadth of its distribution network, coupled with several key innovations, sets International Cannabis Corp. (CSE: WRLD.U, OTC: KNHBF) well on its way to creating the first truly global cannabis supply chain. Its efforts in Europe are particularly advanced and worthy of examination.
Established Distribution Network in Europe
International Cannabis’ wholly owned subsidiary, Marathon Global has an exclusive agreement with Cosmos Holdings, a European based pharmaceutical distributor, to procure and distribute medical cannabis products and all cannabis derivatives in approved countries within Cosmos’ distribution network of 110 clients, representing approximately 35,000 pharmacies in 16 countries. Cosmos’ trans-European network includes Germany, the United Kingdom, Ireland, United Arab Emirates, Denmark, Italy, France, Singapore, Spain, Lebanon, Skopje, Jordan, Sweden, Poland, Netherlands and Greece. This European distribution network is augmented by various value-added services including strategic procurement, warehousing, product registrations and regulatory representations.
On November 7th, 2018 International Cannabis announced it has received an inaugural purchase order from Cosmos for 10,000mL of THC cannabis oil, 5,000g of dried cannabis flower and 5,000mL of CBD oil. The initial order is scheduled for distribution during the first quarter of 2019, and ICC expects to receive subsequent orders throughout 2019. ICC will also commence a dedicated European sales campaign, with the objective of augmenting impromptu, inbound demand.
Danavian Cannabis Ltd. controls licenses for cannabis cultivation and manufacturing in Denmark, and its cannabis and cannabis derivatives will be sold through Denmark’s retail pharmacy network, and its industry relationships will enable future development and expansion.
Polannabis Holdings through its subsidiary controls over 850 acres of premium hemp crops estimated to produce up to 6,800 tons of material exclusively for CBD extraction, an existing extraction and manufacturing facility producing CBD isolates, distillates, bulk oils, paste and tinctures, and a Polish hemp processing and extraction licence permitting the extraction and manufacturing of hemp-derived CBD products,. Polannabis gives ICC an experienced roster of engineering, scientific, logistics, marketing and sales personnel, as well as existing sales agreements with various EU countries, and has secured a monthly off-take agreement for 100 kilos of 99.9% CBD isolate to be initiated immediately upon the completion of its planned capacity and processing expansion.
Through its Greek subsidiary, EU Cannabis Corp, ICC controls a pre-approval letter for a medical cannabis cultivation license, which augments an existing hemp license, as well as 16-acres in northern Greece dedicated to medical-grade cannabis cultivation, extraction, R & D, and distribution.
Poland is the sixth most populous EU member state and along with Greece, will function as ICC’s flagship European hemp cultivation and extraction hubs.
Intelligent, Automated Cannabis Retail Kiosks
The BioCanna ADM retail system is an intelligent automated retail kiosk for the dispensing of cannabis and related products in both medical and commercial markets, offering a solution to many of the concerns related to controlling access to ensure that only properly identified and qualified clients can obtain marijuana products, allowing retailers a means to meet and surpass regulated requirements. The proprietary software system, which operates the BioCanna ADM, offers regulatory bodies the ability to dynamically observe transactions in real-time at every kiosk located within their legal jurisdiction.
The system is European based, designed, and manufactured. There are currently more than 2,000 of this type of kiosk currently operating across Europe, with many in the retail pharmaceutical dispensing marketplace. The BioCanna ADM has been field tested and proven in a controlled substance environment such as retail pharmaceuticals, utilizing both prescription and over-the-counter products.
ICC Creates Global Electronic Marketplace
On November 1st, ICC Cannabis announced the creation of the world’s first fully electronic cannabis marketplace through a partnership with GreenTree International, the parent company of Amercanex, which operates a secure Electronic Cannabis Market (ECM) called ACExchange. The companies will collaborate to deploy Amercanex’s revolutionary ECM across all of International Cannabis’ present and future operational jurisdictions, thereby creating the International Cannabis Exchange (“Intercanex”).
Intercanex will ensure transparency and traceability within the cannabis industry, and offers greater control of the cannabis procurement process, enabling superior pricing, improved regulatory reporting and reduced costs, and will enable International Cannabis to assess product availability, facilitate real-time transactions and improve inventory management while reducing overall expenses and increasing regulatory compliance and auditability. The partnership will connect Amercanex to International Cannabis’ extensive portfolio of cultivation licenses and permits Amercanex access to ICC’s considerable distribution network.
The race to create a global supply chain is on, and ICC’s existing European distribution network, augmented by its operations in North & South America, Africa, industry-leading innovations, and strategic moves throughout 2018 gives it an impressive early lead.
For more information, please visit https://intlcannabiscorp.com/
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