May 11, 2017 - ICC Provides Operational Update ICC Provides Operational Update and Start of Recreational Sales in Uruguay
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 11, 2017) - Highlights ·
More than 2,300 purchasers of recreational cannabis signed up in the first six business days of the opening of the IRCCA registry. · ICC positioned for first sales with more than 285 kg of recreational cannabis in inventory ready for sale and delivery through the Uruguayan pharmacy network.
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Uruguay on track to implement first sales of recreational cannabis in July 2017, a global milestone for the industry.
ICC International Cannabis Corporation ("
ICC" or the "
Company") (TSX VENTURE:ICC) is pleased to announce that the registration for the purchase of recreational cannabis in Uruguay through pharmacies successfully commenced on May 2, 2017.
"We are very pleased this complex implementation process is reaching its final stage, which is a global milestone for the cannabis industry," commented Guillermo Delmonte, Chief Executive Officer of ICC. "We have been ramping up production since we moved into our new, state of the art greenhouse and already have 285 kg of recreational cannabis available for the domestic demand."
The latest information published by the Instituto de Regulacin y Control de Cannabis ("
IRCCA"), the regulatory body overseeing the cannabis industry in Uruguay, has stated that as of Monday, May 9, 2017, being six business days after the opening of the registry on May 2, 2017, there were more than 2,300 registered purchasers. Pursuant to the Uruguayan regulatory regime governing recreational cannabis administered by IRCCA, each person will be allowed to purchase up to 40 grams of recreational cannabis per month.
"We expect that each day as we get closer to July more and more purchasers will enter the registry. We are working well with IRCCA and the Uruguayan government to ensure a smooth roll-out of recreational cannabis supply to the registered purchasers," commented Guillermo Delmonte, Chief Executive Officer of ICC. "At this stage, we are very pleased with the results of our recreational cannabis business and we believe it is a foundational part of ICC that complements our goal of also being a high volume and low cost producer of CBD for international export purposes."
ABOUT ICC INTERNATIONAL CANNABIS CORPORATION The Company has operations in Uruguay, and is focused on the licensed production, development and sale of recreational cannabis, cannabinoid extracts and other derivatives used for medicinal purposes and industrial hemp. For more information, please see the Company's filings on
www.sedar.com and
www.intcannabiscorp.com.