ICC Labs Announces Financial Report for 2017

ICC Labs (TSXV:ICC) released its audited financial results for its 2017 operational year.

As quoted in the press release:

“2017 was a transformational year for the Company with the commencement of sales of recreational cannabis in Uruguay, the development of more than 400 acres of high CBD hemp production, and breaking ground on South America’s first fully licensed CBD extraction laboratory, which is being built in accordance with international Good Manufacturing Practices (GMP) specifications,” commented Alejandro Antalich, Chief Executive Officer of ICC Labs. “ICC Labs will continue to expand its production footprint through its Colombian operations and seeks to become Latin America’s leading, fully-integrated and low-cost producer of cannabinoid pharmaceutical grade products for medicinal use.”

Investor Relations

The Company is pleased to announce that it has engaged Hybrid Financial Ltd. (“Hybrid”) to provide strategic investor relations and shareholder communications services with respect to the European market. Hybrid is a sales and marketing company, with offices in Toronto and Montreal, Canada. Under the terms of the engagement, which is for an initial three month term, Hybrid will be paid a one-time fee of €15,000 and a recurring fee of €25,000 per month. Hybrid will also be granted options to purchase up to 300,000 common shares in the capital of the Company with a five year term and an exercise price of Cdn.$1.44, vesting at a rate of 75,000 options on receipt of TSX Venture Exchange (“TSX-V”) approval and 75,000 options thereafter quarterly. The appointment of Hybrid is subject to the approval of the TSX-V.

Click here to read the full press release.

Source: globenewswire.com