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ICC Have Been Granted Approval For Recreational Sales In Uruguay



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Uruguay can be added to the list of countries that Canadian cannabis companies are capitalizing on.

This morning, ICC International Cannabis (ICC.V) announced that it has been officially approved for non-medical cannabis sales in Uruguay by the Ministry of Health. The Institute of Regulation and Control of Cannabis (IRCCA) reported the following:

Within the framework of the provisions of Law 19,172, the dispensation of psychoactive cannabis for non-medical use in pharmacies, will begin next Wednesday July 19, 2017.

ICC to Start Selling Recreational Marijuana this Week

ICC will start selling non-medical cannabis on July 19th and will distribute its products through an approved pharmacy distribution network in Uruguay.

Initially, ICC will have two products available for non-medical marijuana and the products will be dispensed in IRCCA approved and sealed 5-gram packaging. Each 5-gram package will cost $6.50 and will have a security stamp and LOT number that guarantees its authenticity.

ICC greenhouses operate under strict regulatory and technical supervision, where site conditions, production methods, product traceability and quality control standards have been approved by IRCCA and authorized by the Ministry of Health.

Focused on Increasing Capacity

ICC has a 70,000-square foot greenhouse that is dedicated exclusively to the production of non-medical marijuana. The company has built up significant inventory and can meet the expected non-medical sales demand.

ICC said that it is on track to meet its 2017 production target (2,000 kg) of non-medical cannabis and is on schedule to commence production of CBD flower for medicinal purposes to be exported to international markets by the end of September.

ICC expects to increase its CBD dried flower annual production capacity targets by 50 tonnes to 160 tonnes per year. The company is committed to complying with Good Agricultural Practices (GAP) requirements.

Favorable Growth Story

We are favorable on this development and continues to monitor ICC closely. We are favorable on its leverage to an international market and will keep an eye on how the shares move from here.

ICC is trading slightly higher this morning and trading volume has slowly been picking up. We think this is a company to watch.

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This article was written by Mark Maulden for on .

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