International Cannabis Announces Inclusion to the Horizons HMMJ ETF
25 März 2019 - 5:05AM
ICC International Cannabis Corp. (CSE: WRLD.U)(FWB:
8K51)(OTC: WLDCF) ("ICC" or
“International
Cannabis” or the
“Company”) is pleased to
announce its inclusion in the Horizons Medical Marijuana Life
Sciences ETF (TSX: HMMJ) (the "ETF") as part of the quarterly
rebalance of the constituent holdings of HMMJ. Inclusion in the ETF
is as a significant milestone for ICC, as the Company continues to
establish itself as the world’s premier, vertically integrated pure
cannabis play.
According to Horizons ETFs, "As at September 5, 2018, HMMJ had
reached over C$1 billion in assets under management, a rare
achievement for the Canadian ETF marketplace." 1
Eugene Beukman, Chief Executive Officer and a Director of
International Cannabis, stated: “We are elated to be included in
the HMMJ; the largest cannabis focused ETF offering direct exposure
for investors to North American life sciences companies.
International Cannabis is at the epicentre of the global cannabis
industry and is uniquely positioned to capture significant market
share as the global THC and CBD industries continue to mature.
“The Company will continue to optimize its upstream, downstream
and distribution capabilities while integrating operational best
practices into its medical plant production, extraction, active
pharmaceutical ingredient isolation and finished dose manufacturing
operations.”
HMMJ seeks to replicate, to the extent possible, the performance
of the North American Marijuana Index (the "Index"), net of
expenses. The Index is designed to provide exposure to the
performance of a basket of North American publicly listed life
sciences companies with significant business activities in the
marijuana industry.
Only stocks that meet minimum asset and liquidity thresholds are
eligible for inclusion in the Index. Stocks are rebalanced
quarterly on a market-capitalization basis and capped so that no
single stock can exceed 10% of the weight of the Index when
rebalanced.
ICC also announces that under the terms of its previously
announced licensing agreement with Authentic Brands Group (“ABG”),
the Company will issue common shares of ICC with a value of US$2
million to ABG. The Company will also issue common shares of ICC
with a value of US$15 million to Cannabis Lifestyle Partners
(“CLP”). The valuation of the shares will be based upon the five
day VWAP of ICC’s common shares for the five trading sessions prior
to the announcement of the licensing agreement.
International Cannabis also clarifies that it has the option to
extend its initial 10-year agreement with ABG for an additional
40-year term.
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 BeukmanCEO, Director +1 (604)
687-2038info@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.
1
http://www.newswire.ca/en/releases/archive/September2018/26/c3045.html
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