SEATTLE, Jan. 16, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article covering International Cannabis Corps strategic position in Europe. Europe’s population is over 740 million - twice the size of the US and Canada combined – and is currently suffering from cannabis supply shortages. Additionally, the European cannabis market still in its infancy compared to North America’s, and strategic investments made last year by International Cannabis Corp. (CSE: WRLD, OTC: KNHBF) present an enormous strategic opportunity for ICC.
Like most of Europe, Scandinavian policies on cannabis have been traditionally strict, but in Denmark there has been a significant change in recent years. This change could translate into big business for companies such as ICC with the foresight to establish an early presence.
In November 2017, the Danish Parliament announced plans to begin a four year trial of medical cannabis on January 1, 2018, and the government committed $3.2m to the trial. Then, on January 1, 2018, Denmark legalized medical cannabis following a unanimous vote by parliament, and at the same time, offered a tender for cultivating medical cannabis to international and domestic companies.
One year later, Denmark is poised to become one of Europe’s top producers of medical cannabis, and ICC is well positioned to capitalize.
The market has already seen a number of strategic partnerships between Canadian and Danish companies, and a number of domestic producers have already partnered with foreign companies to enter the market. Denmark has developed a program for reimbursement for cannabis therapeutics through its national health care program whereby patients can be reimbursed for their medicinal cannabis in the same manner as any other prescription.
Twelve national cannabis cultivation and extraction licenses were made available, and International Cannabis, through its wholly-owned subsidiary, Danavian Cannabis, controls a medical cannabis production and manufacturing license in the Kingdom of Denmark. Its Danish assets are on par with industry peers such as Canopy Growth and Aurora.
Immediate Developments
ICC has increased its Danish land holdings and now controls a 100-acre property located in a jurisdiction with a highly-skilled agricultural and manufacturing workforce in immediate proximity to Germany, allowing for direct imports of CBD products and medical cannabis. Its Danish operations are strategically located along a national highway, permitting direct access to the Danish capital of Copenhagen.
Danavian boasts industry relationships that will enable future development potential throughout Scandinavia. Continued development of Danavian’s Danish cannabis portfolio will help serve both local and export market demand. Initial development work, as well as the adaptation of infrastructure for the property, is scheduled to commence this month.
Danavian has engaged an Israeli cannabis organic cultivation and management company, Sababa Sciences Inc. to provide end-to-end management including the implementation of advanced Israeli agricultural technologies for high-quality medical cannabis treatments. Danavian and Sababa Sciences have designed a 55,000 square foot, fully automated greenhouse facility that will meet IMC-GAP, ISO:9001 and European GMP standards, and the cannabis and cannabis derivatives produced will be sold through Denmark’s retail pharmacy network.
International Cannabis has engaged leading greenhouse engineering and manufacturing firm Azrom to assist facility engineering planning initiatives. Azrom is a leader in the global agricultural market, specializing in the design, engineering and manufacturing of customized greenhouses. Under Sababa’s guidance, Azrom will provide end-to-end planning and consulting services throughout the build out of International Cannabis’ Danish medical cannabis cultivation facility.
The initial stage will include a 49,600 square foot cultivation unit, an administrative area, as well as a production and processing structure. Delivery of the greenhouse structure and the required growing systems is estimated for the end of Q1 2019. Upon delivery, the company has budgeted 90 days for implementation and installation of the greenhouse and growing systems. ICC expects to successfully receive its final building permits by February 1st, and concurrent with the permitting process, has initiated land development and infrastructure work, expected to be completed by February 1.
International Cannabis has also finalized the design of its European GMP compliant manufacturing facility, which will be constructed and operated by Relief Aps, a subsidiary of Sababa. The company is currently assessing bids for construction, and is evaluating leveraging modular structures to accelerate time to market. Construction will begin during the second quarter of 2019, and ICC hopes to obtain GMP validation prior to the end of 2019.
Genetic/Strain Catalogue Expanding
International Cannabis recently bolstered its existing genetic and strain catalogue through the purchase of 10 seed varieties, and has successfully established a genetics room in accordance with industry best practices. The genetics room is monitored and operated by Sababa’s agronomy team, and with Sababa ‘s assistance, ICC has completed initial sprouts for testing and research.
This means that ICC now has access to 130 lab-tested craft cannabis strains, and these unique craft strains will enable the company to differentiate its brand in an increasingly homogenized market. ICC will continue to augment its catalogue of top-ranked strains from around the world.
While the Danish developments are certainly exciting, they’re only one chapter in the evolving ICC story. The company, through its subsidiaries, also has agreements in place for European-based pharmaceutical distribution, wholesale importation, and research and development, as well as licenses to cultivate, produce, distribute, store and export cannabis, cannabis derivatives and industrial hemp in Colombia, Poland, Greece, Portugal, South Africa and the Kingdom of Lesotho.
With an established presence on five continents, 110 clients representing roughly 3500 pharmacies in 16 countries, five licenses for cultivation on three continents and access to over 850 acres of premium hemp crops, estimated to produce up to 6800 tons of biomass for CBD extraction, International Cannabis lives up to its name, and is well positioned to establish the first global cannabis supply chain.
For more of the ICC story, please visit: https://intlcannabiscorp.com/
Please follow the link to read the full article: https://www.cannabisfn.com/with-danish-advancements-icc-gears-up-for-key-role-in-european-supply-chain/
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