ICC Labs Announces Its First Presale Agreement in the European Market With VenPharma

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VANCOUVER, British Columbia, June 13, 2018 (GLOBE NEWSWIRE) -- ICC Labs Inc. (“ICC Labs” or the “Company”) (TSX-V:ICC) (Frankfurt:2Q9) is pleased to announce that KSK Labs, a 100% subsidiary of Global Group Kalapa, of which ICC Labs recently acquired 25%, subject to TSX Venture Exchange approval, has closed a presale agreement with a Spain-based company, VenPharma, in order to distribute cannabidiol (“CBD”) products in Spanish pharmacies and drugstores.

VenPharma is a laboratory specialized in natural medicine since its foundation in 1976, with more than 1,300 points of sales in Spain. The agreed first order is of 140,000 CBD products between sublingual CBD oils of 2% and 10%, CBD creams and infusions based on hemp, to be distributed through 500 point of sales. The intention with the next orders is to sell over than 370,000 CBD products annually through all the 1,300 points of sales.

“This agreement, together with the one we announced three weeks ago, through which we are going to export CBD and tetrahydrocannabinol (“THC”) products into Germany, allow us to accelerate the execution of our business plan and global distribution strategy.

“We are very satisfied with our recent investment in Kalapa which evidences the significant potential of our global expansion strategy, joining forces with a serious and committed partner,” commented Alejandro Antalich, Chief Executive Officer of ICC Labs.

ICC Labs is a fully licensed producer and distributor of medicinal cannabinoid extracts, recreational cannabis and industrial hemp products in Uruguay as well as a fully licensed producer of medicinal cannabis in Colombia. The Company has active operations in Uruguay, and is focused on becoming the worldwide leading producer of cannabinoid extracts, giving support and promoting responsible use for medicinal purposes, backed by scientific research and innovation, while following strict compliance with standards for quality and safety.

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Contact:ICC Labs Inc.Alejandro Antalich, Chief Executive Officer t: 598-2900-0000e:  

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Globe Newswire: 14:20 GMT Wednesday 13th June 2018

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