VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 14, 2017) - ICC Labs Inc. ("ICC Labs" or the "Company") (TSX VENTURE:ICC), a fully licensed producer and distributor of medicinal cannabinoid extracts, recreational cannabis and industrial hemp products in Uruguay, is pleased to announce it has changed its name from ICC International Cannabis Corporation. The Company is expected to commence trading under its new name at the opening of trading on the day after it receives final approval from the TSX Venture Exchange (the "TSX-V"). ICC Labs expects to become a leading pharmaceutical grade producer of cannabidiol ("CBD") and other cannabinoid extracts, which will be produced at its cannabinoid extraction laboratory being constructed in Uruguay.

Alejandro Antalich, Chief Executive Officer of ICC, commented: "Our new corporate identity reflects the Company's focus on becoming South America's leading, fully-integrated and low-cost producer of cannabinoid products for medicinal use. As we are growing our own cannabis, and constructing our own extraction laboratory, we will have control over the entire production cycle. Although the first medicinal product that ICC will release to the market is branded CBD oil, 'BIDIOL', our business plan includes a wide range of high-value pharmaceutical and medicinal products from tablets, soft capsules, ointments, creams, drops, syrups to patches. We are seeking to use the highest quality standards to ensure that our lines of product will be available for many medicinal uses. As we've previously announced, ICC Labs is setting up the first cannabinoid extraction laboratory in South America using the Supercritical Fluid CO 2 extraction technique with state-of-the-art equipment from Europe. A rendering of the prospective laboratory is currently available here: https://youtu.be/ptszq7pGxBY.

Our continued goal of implementing 'Good Manufacturing Practices' (GMP) in all active pharmaceutical ingredient ("API") manufacturing, and to follow the guidelines of the Food and Drug Administration (FDA), the European Medicines Agency (EMA) and the World Health Organization (WHO), will help to ensure that our API meet the quality and purity characteristics required for medicinal products.

ICC Labs, as a pioneer in the extraction of cannabinoids in Latin America, is in a privileged position when it comes to satisfying the demands of the large South American markets of hundreds of millions of people. Uruguay's geography and position as one of the founding members of the MERCOSUR trading block and its history as an authoritative reference point when it comes to the cannabis industry, puts us in an envious position to develop commercial deals with customers in other South American countries."

The Company's new website can be found at www.icclabs.com.

No action is required to be taken by the Company's shareholders in connection with the name change.

ABOUT ICC LABS INC.

The Company has operations in Uruguay, and is focused on the licensed production, development and sale of medicinal cannabinoid extracts, recreational cannabis and industrial hemp products in Uruguay. For more information, please see the Company's filings on www.sedar.com and www.icclabs.com.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Certain statements in this press release constitute forward-looking information. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the Company's future production and sales, results of operations, strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements.

Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to: the Company's ability to complete the construction of its cannabinoid extraction laboratory in a timely fashion and in accordance with requisite regulatory requirements, or at all, to obtain all requisite regulatory approvals for the production and export of cannabinoid based products and to produce various cannabinoid based products in a cost-effective manner, or at all. Additional information identifying risks and uncertainties is contained in the Company's filings with Canadian securities regulators, and available at www.sedar.com. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.