ICC International Cannabis (TSXV:ICC) has announced it has entered into an Importation Agreement with ARA-Avanti Rx Analytics.
As quoted in the press release:
“We are pleased to enter into the Importation Agreement with Avanti with a view to working together to provide Canadians with a broader supply of cannabidiol (‘CBD‘) oil and cannabis extract oils, and other related products from our Uruguayan operations at competitive price points,” commented Guillermo Delmonte, Chief Executive Officer of ICC. “In addition, Avanti brings to the table extensive knowledge and expertise in the field of quality control, cannabis extraction, and CBD purification. The business relationship with Avanti is expected to allow ICC to leverage Avanti’s dealer license and laboratory facilities in order to facilitate sales in Canada, and represents a positive next step in ICC’s strategy to export to global markets where lawful.”
The Importation Agreement establishes a non-exclusive contractual business relationship between ICC and Avanti where Avanti agrees to act as a Canadian importing agent for ICC for its cannabis products and distributor to customers identified by ICC from time to time. Avanti has also agreed to act as a Health Canada GMP approved contract analytical lab in Canada for ICC’s CBD oil. The activities contemplated by the Importation Agreement remain subject to applicable regulatory approvals, including those from the TSX Venture Exchange, the Instituto de Regulación y Control del Cannabis (“IRCCA“), the Uruguayan Ministry of Livestock, Agriculture and Fishery and Health Canada.