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International Cannabis Corp. Well Positioned in Europe’s Hemp, CBD Markets-- CFN Media
SEATTLE, Dec. 05, 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 discussing the potentially enormous European opportunity in the cannabis space, and how ICC International Cannabis Corp. (CSE: WRLD, OTC: KNHBF), a vertically-integrated cannabis company specializing in the acquisition and operation of international cannabis assets, may be uniquely positioned as a key player.
The industrial hemp market is expected to heat up over the next five years thanks to changing attitudes and laws. In particular, hemp offers an environmentally-friendly alternative to traditional wood and petroleum-based products.
Another aspect of hemp’s growth is hemp-derived cannabidiol (CBD). The CBD market is growing at a much faster rate than any other aspect of the cannabis market. In 2015, the modest CBD market spiked in the hundreds of millions, nearly doubled in 2016, and is 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 – a cannabis & CBD market research organization – predicted a per annum increase of 55% over the next five years alone.
With a population twice the size of the US and Canada combined, and a cannabis market still in its relative infancy, Europe presents an enormous opportunity.
ICC’s Focus on European Industrial Hemp, CBD Production
On November 19th, ICC announced the acquisition of Enigma Unipessoal Lda, which controls one of the first hemp licenses to be issued in Portugal, permitting the cultivation, processing and import/export of hemp-derived products and allows International Cannabis to cultivate hemp on 400 acres of fertile agricultural land located in the Castelo Branco region of Portugal, known for its ideal climate for outdoor hemp cultivation.
The company’s Portuguese hemp operations are estimated to yield 45,000 kg of finished, extracted pure CBD isolates per annum, and a full operating team and infrastructure are already in place. ICC expects to seed the newly acquired land package in the spring and is progressing towards a full spectrum cannabis license in Portugal, which it hopes to receive before the end of Q1 2019. Enigma successfully harvested and extracted its first hemp crop in 2015, has become a notable importer of proprietary hemp seeds, and plans to release both branded and white-labeled CBD products in the first quarter of 2019, including CBD-infused chocolate, CBD oils, and CBD-based topical creams.
In October, ICC acquired Polannabis Holdings which, through its subsidiary, controls a Polish hemp processing and extraction licence permitting the extraction and manufacturing of hemp-derived CBD products. Polannabis has access to over 850 acres of premium hemp crops estimated to produce up to 6,800 tons of material exclusively for CBD extraction and boasts an existing extraction and manufacturing facility currently producing CBD isolates, distillates, bulk oils, paste and tinctures using proprietary hydrocarbon extraction technologies. Polannabis gives ICC an experienced roster of engineering, scientific, logistics, marketing and sales personnel, as well as existing sales agreements with various EU countries.
ICC’s initial investment in Polannabis will increase its CBD extraction capacity to over 200,000 grams per month and as a result, has secured a monthly off-take agreement for 100 kilos of 99.9% CBD isolate, to be initiated immediately upon the completion of its capacity and processing expansion. An agreement with Maria Curie-Sklodowska University, one of the largest universities in Poland has allowed Polannabis to establish superior post-processing separation protocols and testing procedures, and the joint-venture provides product testing, analytical services, as well as process and product development support.
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.
International Cannabis Corp. acquired EU Cannabis Corp in June of 2018, and the company has been granted a medical cannabis cultivation licence by the Greek government - superseding and augmenting an existing hemp license. EU Cannabis controls a 16-acre land package situated in northern Greece which will be dedicated to medical-grade cannabis cultivation, extraction, distribution, and R&D. The company has an option to acquire a 90-percent working interest in three industrial hemp licences held by Cannatec Greece A.E. covering a total of 16 acres situated in the Greek prefecture of Imathia, which permit EU Cannabis to cultivate, manufacture, distribute and export industrial hemp and CBD-derived extracts.
ICC’s acquisition of Green Gene Research Inc., also announced in November, allows the company to ensure it is growing only the highest quality strains. Green Gene boasts nearly two decades of experience in the fields of cannabis research, testing, cultivation, as well as the optimization of proprietary seeds and strains, and a portfolio of over 120 laboratory-tested craft cannabis strains curated and assembled over its 17 years by a team of experiences geneticists and breeders. These unique strains will allow for the continued differentiation of the International Cannabis brand in an increasingly homogenized market.
The acquisition of Green Gene will allow ICC to realize multiple revenue streams which include the licencing of premium genetic strains, wholesale seed sales, clone fulfillment services, custom breeding programs, and tissue culture and strain patenting services.
International Cannabis Corp. boasts an established presence on five continents, 110 existing clients representing roughly 35,000 pharmacies in 16 countries, a prominent curated seed bank, five licenses for cultivation on three continents, and access to over 850 acres of premium hemp crops estimated to produce up to 6800 tons of biomass for CBD extraction. ICC is definitely one to watch, especially for investors looking for opportunities in Europe’s rapidly-growing cannabis and hemp marketplace.
For more information, please visit: https://intlcannabiscorp.com/
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