19:42:17 EST Thu 21 Nov 2019
Enter Symbol
or Name

Login ID:
ICC International Cannabis Corp
Symbol WRLD
Shares Issued 363,828,833
Close 2019-06-05 U$ 0.17
Recent Sedar Documents

ICC Int'l enters agreement to acquire VendaPharm

2019-06-06 01:20 ET - News Release

Mr. David Shpilt reports


ICC International Cannabis Corp. has entered into a definitive agreement with VendaPharm EU LLC to acquire 100 per cent of VendaPharm's issued and outstanding shares.

By way of an exclusive distribution and software licensing agreement, VendaPharm controls the international rights to a proprietary THC (tetrahydrocannabinol)/CBD (cannabidiol) dispensing technology and kiosk, designed to facilitate a contemporary, intuitive and educational purchasing experience for the modern THC/CBD consumer. The vending machine is equipped with comprehensive inventory management software, as well as industry-leading payment-processing infrastructure, which permits the ready acceptance of both debit and credit cards, in addition to fiat currency.

VendaPharm's proprietary THC/CBD dispensing technology and kiosk are fully customizable and are equipped with:

  • Facial recognition software and camera;
  • High-definition LED customer interface, boasting product display and advertising capabilities, thus generating accretive revenues during non-peak hours;
  • Secure and sanitary delivery bay;
  • Temperature controlled storage;
  • Data aggregation and analysis features;
  • Hidden locks, keyless entry and silent alarms.

The vending machine's sizable high-definition LED display can be programmed to provide detailed product information, allowing for an informed purchasing decision. Concepts of VendaPharm's THC/CBD dispensing technology and kiosk can be viewed at the company's website.

International Cannabis plans to deploy the vending machine into high-traffic retail end points and pharmacies across its European downstream network, with the objective of affording the end consumer streamlined access to a variety of branded THC/CBD stock-keeping units (SKUs), including:

  • CBD performance products;
  • Therapeutic relief balms;
  • Patented Vesisorb formulations that have been demonstrated to increase absorption of fat-soluble drugs, including CBD, by up to seven times, compared with those without;
  • CBD-infused roll-ons and healing sticks -- engineered for optimal topical absorption;
  • Hemp-oil-derived cosmetics with anti-aging properties;
  • Pet-centric CBD soft gels and tinctures;
  • CBD vaporizers;
  • Cannabis-light prerolled cigarettes.

The company is also aggressively developing a portfolio of cannabidiol-derived health and wellness SKUs for automated distribution throughout Europe, under the Marilyn Monroe, Elvis Presley, Greg Norman, Tretorn, Aeropostale, Thaila and Frederick's of Hollywood brands.

ICC will leverage these widely recognized and trusted powerhouse brands that are already prominently featured on thousands of store shelves across Europe, further enhancing ICC's opportunity to capture significant share in the following rapidly growing lifestyle and wellness categories:

  • Active/outdoor: Greg Norman, Thalia, Marilyn Monroe and Tretorn;
  • Beauty and cosmetics: Marilyn Monroe, Thalia, Elvis Presley and Frederick's of Hollywood;
  • Wellness and supplements: Greg Norman and Marilyn Monroe;
  • Foot care: Tretorn and Greg Norman;
  • Health and wellness: Greg Norman, Aeropostale and Tretorn;
  • Lifestyle: Elvis Presley, Aeropostale, Marilyn Monroe, Thalia and Frederick's of Hollywood;
  • Pet: Elvis Presley, Greg Norman, Marilyn Monroe and Tretorn;
  • Remedy: Greg Norman, Aeropostale and Tretorn;
  • Sexual wellness: Elvis Presley, Frederick's of Hollywood and Marilyn Monroe.

David Shpilt, chief executive officer of International Cannabis, stated: "The integration of VendaPharm's proprietary THC/CBD dispensing technology and kiosk into our existing network of 80,000 retail end points and pharmacies will permit ICC with the ability to rapidly scale the introduction of ICC branded SKUs into the burgeoning European marketplace. Activations through the vending machine can be counted on to expedite demand for ICC products for B2B [business to business] distribution, as well as brand/media awareness.

"More people than ever, including millennials, are choosing convenience stores as their primary source of produce. ICC seeks to place vending machines in these high-traffic locales, particularly chains or franchises along major thoroughfares. After successful vending machine activation at the Women in Medical Cannabis conference in London, U.K., May 18 to May 19, 2019, ICC prepares to roll out this innovative dispensing technology across high-density chains and retail locations throughout Europe."

It is anticipated that the deployment of the vending machine across ICC's distribution channels will reduce staffing costs, improve accountability, optimize retail space and minimize inventory slippage, all while affording consumers an unobtrusive and technological superior option to purchase desired THC/CBD SKUs.

The company is also pleased to announce to appointment of Peter Nguyen to its board of directors. Mr. Nguyen currently acts in the capacity of chief financial officer of International Cannabis.

International Cannabis also announces the resignation of Michael Martinz as president and a director of the company. ICC would like to sincerely thank Mr. Martinz for his many years of services to date and wishes him the best of luck with his future endeavours.

The company also announces that it has applied to the Canadian Securities Exchange for approval to extend the expiry dates of certain common share warrants issued as part of a non-brokered private placement that closed on June 20, 2018. The current listed expiration date of the warrants is June 20, 2019, and, if the application is approved, it will be extended an additional 12 months for a newly proposed expiration date of June 20, 2020.

All other terms and conditions of the warrants, including the exercise price of $1, remain unchanged.

On closing, ICC shall issue to the vendors an aggregate number of ICC shares equal to $2-million, where each ICC share has an attributed value equal to the five-day volume-weighted average price (VWAP) of an ICC share on the exchange prior to the date of issuance. When issued, 50 per cent of the closing payment shares will be subject to a hold period of six months from the date of issuance, and the remaining 50 per cent of the closing payment shares will be subject to a hold period of 12 months from the date of the issuance.

The company many also issue additional shares upon the achievement of certain forward-looking milestones. A finder's fee will be paid on the transaction.

About ICC International Cannabis Corp.

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.

We seek Safe Harbor.

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