- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
ICC International Cannabis Updates Recreational Cannabis Sales in Uruguay
ICC International Cannabis Corporation provided shareholders with an update on their cannabis operation in Uruguay.
ICC International Cannabis (TSXV:ICC) provided shareholders with an update on their cannabis operation in Uruguay.
As quoted in the press release:
Recreational Cannabis Sales Update:
ICC, South America’s first fully licensed and government approved producer and distributor of recreational cannabis commenced sales on July 19, 2017 when it began to distribute its two recreational cannabis products (ALFA I and BETA I) via sixteen approved pharmacies in Uruguay. Over 4,500 authorized purchasers had registered prior to the July 19, 2017 launch date, and since then, an additional 7,008 purchasers have registered, representing a 156% increase of registered recreational buyers in a 21-day period. Furthermore, four new pharmacies have begun the application process and ten more have shown interest in doing so.
“The number of registered users as purchasers to access the psychoactive cannabis of non-medical use in pharmacies doubled, amounting today to 11,508 qualified. New requests for adhesion of pharmacies to the system are being processed, so that the number of access points in different parts of the country will increase progressively” published by the Instituto de Regulación y Control de Cannabis (“IRCCA“), the regulatory body overseeing the cannabis industry in Uruguay.
Within the first two weeks of non-medical sales, the Company received additional product orders from IRCCA and its approved pharmacies for a total of 64kg, translating to 12,800 packages of 5 gram ALFA I and BETA I products. Although a bi-weekly replenishment of stock was previously agreed to by the Company and IRCCA, due to the high demand, four additional deliveries had to be made in this two week time period. The recreational market in Uruguay is expected to reach a potential 160,000 registered buyers, with each registrant able to purchase up to 40 grams of recreational cannabis per month. The Company continues to expand its production output in order to meet expected ongoing recreational sales demand.
Click here to read the full press release.
Source: www.marketwired.com
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.