VANCOUVER, British Columbia, April 09, 2019 (GLOBE NEWSWIRE) -- ICC International Cannabis Corp. (CSE:
WRLD.U)(FWB: 8K51)(OTC: WLDCF) ("ICC" or “International Cannabis” or the “Company”) is
pleased to announce the Company has entered into an agreement with AgraFlora Organics International Inc.
(“AgraFlora”) (CSE: AGRA)(FWB: PU31)(OTC: PUFXF), whereby AgraFlora will transfer its
portfolio of exotic, native Colombian cannabis genetics to ICC for international marketing and distribution purposes.
Eugene Beukman, Chief Executive Officer and a Director of International Cannabis stated: “This partnership further equips
International Cannabis with the ability to provide highly coveted Colombian cannabis flower to its distribution global network of
approximately 39,000 pharmacies and retail outlets. The transfer of these native Colombian strains will also allow for the
continued differentiation of the International Cannabis brand in an increasingly generic and homogenized market.”
In May 2018, AgraFlora formed a wholly owned subsidiary, Pure Grow Medicinals S.A.S. (“Pure Grow”), to pursue cannabis
cultivation and genetics opportunities in Colombia. Pure Grow has since been working in concert with a Cannabis Cup winner whose
strain “Medellin Gold” has received industry accolade and has, since formation, acquired a select library of rare and exotic native
cannabis seed varieties from various regions in the country.
The Companies genetics portfolio consists of rare, native cannabis strains from the regions of Valle del Cauca, Cauca, Magdalena
and Antioquia in Colombia. Under the agreement, Pure Grow is transferring to International Cannabis a library consisting of 20
unique strains that include both prominent tetrahydrocannabinol (“THC”) and cannabidiol (“CBD”) varietals, including highly
sought-after strains such as:
- Caucana;
- Purpura;
- Medellin Gold; and,
- Maroc.
As both the World Health Organization and many countries around the world shift their stance in favour of medical use of
CBD-dominant cannabis oils and CBD-derived products, the demand for high-yield CBD strains is expected to increase
geometrically.
“Pure Grow has assembled a unique genetic library of cannabis native to Colombia which we believe is poised to become a valuable
asset for our company,” said Derek Ivany, President & CEO, AgraFlora Organics International Inc. “With the aim of maximizing the
value of our genetics portfolio, we have confidence in our new partnership with ICC as they have built an extensive infrastructure
across the value chain in the international cannabis marketplace. Their vast international presence consists of distribution
networks and various licenses in multiple jurisdictions that will assist in introducing our genetics library to the
marketplace.”
Under the terms of the agreement, AgraFlora will retain the rights to the genetics library for its own uses within North
America, with International Cannabis being granted exclusive rights elsewhere globally. In consideration for the transfer of
the genetics library, the Company will issue one million common shares of ICC to AgraFlora. The valuation of the shares will be
based upon the five-day VWAP of ICC's common shares for the five trading sessions prior to the announcement of the agreement.
ABOUT AGRAFLORA ORGANICS INTERNATIONAL INC.
AgraFlora Organics International Inc. is a growth oriented and diversified company focused on the international cannabis
industry. It owns an indoor cultivation operation in London, ON and is a joint venture partner in Propagation Service Canada and
its large-scale 2,200,000 sq. ft. greenhouse complex in Delta, BC. The Company has a successful record of creating shareholder
value and is actively pursuing other opportunities within the cannabis industry. For more information please visit:
www.agraflora.com.
ABOUT INTERNATIONAL CANNABIS
ICC International Cannabis, through its subsidiaries, has operating assets and is developing a world-class platform for
cultivation, extraction, formulation and distribution across the globe in the United Kingdom, Denmark, Poland, Switzerland,
Germany, Macedonia, Bulgaria, Serbia, Croatia, Greece, Italy, Portugal, Malta, Colombia, Argentina, Australia, South Africa and
Lesotho.
ON BEHALF OF THE ICC INTERNATIONAL CANNABIS CORP. BOARD OF DIRECTORS
“Eugene Beukman”
Eugene Beukman
CEO, Director
+1 (647) 427-2208
info@intlcannabiscorp.com
Learn more about ICC by visiting our website at: https://intlcannabiscorp.com/
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THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Notice Regarding Forward Looking Information:
This news release contains certain "forward-looking information" within the meaning of applicable Canadian
securities law. Forward-looking information is frequently characterized by words such as "plan", "continue", "expect", "project",
"intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that
certain events or conditions "may" or "will" occur. This information is only a prediction. Various assumptions were used in drawing
the conclusions or making the projections contained in the forward-looking information throughout this news release.
Forward-looking information includes, but is not limited to: political changes in Canada and internationally, future legislative
and regulatory developments involving cannabis in Canada and internationally, the Company’s ability to secure distribution channels
in international jurisdictions, competition and other risks affecting the Company in particular and the cannabis industry
generally.
The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made
as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any
obligation to publicly update or revise any forward- looking information to reflect events or circumstances after the date of this
release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or
otherwise.
