ICC International Cannabis Corp. (CSE: WRLD, OTC:KNHBF) updated on activity, saying it plans to continue with its 'buy-and-build' strategy over the next 12 months.
The firm is on a mission to become the first publicly listed, globally focused, vertically integrated, pure cannabis company and its cultivation licences already span four countries and three continents.
"Over the past eight months International Cannabis has undergone a transformational shift, demonstrated by the expansion of the company’s portfolio holdings," said Eugene Beukman, chief executive and director at the group.
"ICC believes it is a preeminent player in the evolving international cannabis realm and looks forward to further illustrating exciting developments in the coming weeks."
The company added that it continues to evaluate potential cannabis and CBD centric assets in a variety of high-growth jurisdictions, including, but not limited to, Uruguay, Portugal, Malta, Costa Rica, Seychelles, and Switzerland.
The firm outlined the following assets and licences:
Polannabis, through a subsidiary, controls a Polish hemp processing and extraction licence. The licence permits the extraction and manufacturing of cannabinoid-(CBD)-derived products from hemp.
Danavian Cannabis Ltd
This year, International Cannabis entered into a definitive agreement with Danavian Cannabis to acquire 100% of its shares and thus now controls one of 12-Cannabis cultivation and manufacturing licences in the Kingdom of Denmark.
Marathon Global Inc
In May, the firm agreed with Marathon Global Inc to acquire 50% of its issued and outstanding shares.#
Marathon Global has an exclusive agreement with Cosmos Holdings to procure and distribute medical Cannabis products and all Cannabis derivatives for clients of Cosmos in approved countries within its distribution network of 110 clients, representing approximately 35,000 pharmacies in 16 countries.
In June, the firm executed a share purchase agreement with CanAfrica Holdings to acquire 100% of the firm.
CanAfrica holds a licence to cultivate, manufacture, supply, hold, import, export and transport Cannabis and derivative products. ICC expects that Lesotho will act as a staging ground for access to larger African markets, including its neighbour South Africa and its population of over 55 million.
Canna Colombia Holdings Inc
In June, the firm entered into a letter of intent to acquire a 100% of Canna Colombia Holdings Inc, formerly Cannabis Medical Group SAS, a Columbian entity that holds licences to cultivate, produce, hold, sell and export Cannabis and its by-products.
Aricannabis BioTech Corp
In August, International Cannabis announced a definitive agreement with Aricannabis BioTech Corp to acquire 100% of Aricannabis's shares.
Aricannabis works on an exclusive basis with NuCare Health to provide Cannabis products to more than 2,800 independent and corporate pharmacies across South Africa.
EU Cannabis Corp.
In June, ICC struck a definitive agreement with EU Cannabis Corp to acquire 100% of EU Cannabis's shares. The latter has an option to acquire a 90% working interest (WI) in industrial hemp licences held by Cannatec Greece A.E.
Cannatech currently holds three licences covering a total of 16 acres situated within the Greek prefecture of Imathia.
Shares in Toronto eased 1.67% to $0.59.