|
ICC ANNOUNCES INCORPORATION OF ADDITIONAL LAND
TO INCREASE PRODUCTION CAPACITY
Vancouver, British Columbia, Tuesday December 20, 2016 - ICC International Cannabis Corporation (“ICC” or the “Company”) (TSXV: ICC) has entered into an agreement to lease approximately 9 hectares of additional land adjacent to the Company’s existing property used for the production of cannabinoid extracts and by-products for medicinal use and industrial hemp.
This expansion will increase the Company’s aggregate land position (including land provided by the Government of Uruguay for the production of recreational cannabis) from approximately 4.6 million square feet to approximately 5.6 million square feet, an increase of approximately 22%, subject to receipt of all necessary approvals.
“This strategic expansion is part of our ongoing process to build future production capacity and proportional increase in revenues once it reaches run date” commented Guillermo Delmonte, Chief Executive Officer of ICC. “Expanding our medicinal extracts, by-products business and our industrial hemp business are key objectives for the Company as we leverage our strength in the Uruguayan market to position ourselves to meet the needs of the international market.”
|