VANCOUVER, British Columbia, April 05, 2019 (GLOBE NEWSWIRE) -- ICC International Cannabis Corp. (CSE: WRLD.U)(FWB: 8K51)(OTC: WLDCF) ("ICC" or “International Cannabis” or the “Company” ) applauds Wayland Group Corp.’s (CSE: WAYL)(FWB: 75M)(OTCQB: MRRCF) (“Wayland”) recent announcement regarding their selection by the German Federal Institute for Drugs and Medical Devices (“BfArM”), through its German joint venture Demecan GmbH, to begin domestic production of medical cannabis for the rapidly growing German patient population.
Wayland is one of three groups that have been selected and is subject to a review period, after which a final decision will be made no earlier than April 17, 2019.
Eugene Beukman, Chief Executive Officer and a Director of International Cannabis stated: “Wayland’s first mover advantage coupled with their surgical execution and best-in-class operations within the German cannabis market are further validated by this recent announcement. Wayland had the corporate foresight to identify Germany, early on, as one of the world’s most exciting medical cannabis markets due to its progressive regulations, geometrically growing patient population, and insurance coverage for over 60 per cent of prescriptions. ICC enthusiastically applauds Wayland’s selection by the BfArM, through its German joint venture Demecan GmbH, to begin domestic production of medical cannabis.”
As per the Company’s previously announced Letter of Intent (“LOI”) with Wayland to acquire 49.9 per cent of Wayland Group Corp.'s international assets and licence portfolio. Upon closing of the transaction, Wayland's international assets and licences will be transferred to a subsidiary, owned by Wayland and International Cannabis, 50.1 per cent and 49.9 per cent, respectively. The international subsidiary will include key management, pharmaceutical professionals and operations personnel from Wayland.
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 (604) 687-2038 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.
