VANCOUVER, British Columbia, May 8, 2019 – ICC International Cannabis Corp. (CSE: WRLD.U)(FWB: 8K51)(OTC: WLDCF) (“ICC” or “International Cannabis” or the “Company”) and Organic Flower Investments Group Inc. (CSE: SOW)(FWB: 2K6)(OTC: QILFF) (“Organic Flower”) are pleased to announce the Companies have entered into a distribution and cannabis processing/finishing agreement (the “Downstream Agreement”).
Under the terms of the Downstream Agreement, ICC will permit Organic Flower unbridled access to its European distribution network, comprised of 80,000 retail outlets and pharmacies, as well as grant Organic Flower commercial rights for cannabis processing/finishing at its EU-GMP certified facilities. Organic Flower will also remunerate International Cannabis according to a floating royalty matrix, based upon the net sales of Organic Flower products sold through ICC’s European distribution channels.
Organic Flower will leverage International Cannabis’ expansive downstream footprint, to distribute its diverse product offering, including:
- Dried cannabis flower;
- Functional foods and beverages;
- CBD-infused pain relief creams and roll-ons;
- Hemp-oil based organic cosmetics and personal care products;
- Premium adult-use beverages; and,
- Cannabinoid/terpene-infused edible products
By way of an exclusive agreement, International Cannabis is equipped with a trans-European distribution network, spanning 16 countries, including: Germany, United Kingdom, Ireland, Denmark, Italy, France, Singapore, Spain, Poland, the Netherlands and Greece. ICC’s European distribution network is augmented by various value-added services, including:
- Strategic procurement;
- Product registration; and,
- Regulatory representations.
Joel Dumaresq, Chief Executive Officer and a Director of Organic Flower stated: “International Cannabis’ deep-seated understanding of European import/export regulations, coupled with its robust distribution channels, provides Organic Flower with a springboard to expedite the placement of its unique product portfolio on European shelves. Organic Flower is of the opinion that ICC’s down-line distribution footprint is unmatched within the European THC/CBD operating theatre, and will afford Organic Flower with first-rate exposure to the next wave of cannabis alpha returns”.
ON BEHALF OF THE ICC INTERNATIONAL CANNABIS AND ORGANIC FLOWER BOARD OF DIRECTORS
Learn more about ICC by visiting our website at: https://intlcannabiscorp.com/
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Learn more about Organic Flower by visiting our website at: https://sowcannabis.ca/
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.