VANCOUVER, British Columbia, April 05, 2018 (GLOBE NEWSWIRE) -- ICC Labs Inc. (“ICC Labs” or the “Company”) (TSX-V:ICC) (Frankfurt:2Q9) is pleased to announce that it and one of its Uruguayan subsidiaries have entered into a framework collaboration agreement (the “Framework Agreement”) with the Pasteur Institute of Montevideo, a Uruguayan foundation devoted to biomedical research.



In accordance with the Framework Agreement, ICC Labs will provide the Pasteur Institute with various cannabinoid extracts and the Pasteur Institute will conduct scientific and medicinal research programs (the “Research Programs”). Each Research Program will be subject to regulatory approval and to further definitive agreements that will define the specific contributions of the parties. Under the Framework Agreement, the Research Program will be managed by a steering committee consisting of two representatives of ICC Labs and two representatives of the Pasteur Institute. It is the intent of the parties that the results of the Research Program, whether patentable or not, will be owned solely by ICC Labs. Any inventions that occur incidental to the Research Program will be subject to a co-ownership agreement between the parties.

In addition to the above, ICC Labs is pleased to announce its first Research Program with the Pasteur Institute. Over a period of two years, ICC Labs will provide US$400,000 in funding and three phytocannabinoid extracts to the Research Program and the Pasteur Institute will conduct various scientific and medicinal research activities designed to ascertain potential effects of the phytocannabinoids on immune response, neuroprotection and intestinal microbiota.

Alejandro Antalich, the CEO of ICC Labs, commented: “We are very committed to this framework for the development of pharmaceutical products, and the related impact on the scientific community. With this first step we are seeking to innovate in the use of new medicines applied to different clinical pathologies, and to generate and making available to the global health community the necessary tools for proper medical prescriptions related to cannabinoids. We are excited by the search for new solutions for a better quality of life, and to reduce the suffering caused by different diseases and the side effects of the treatments used to combat them.”

ABOUT ICC LABS INC.

ICC Labs is a fully licensed producer and distributor of medicinal cannabinoid extracts, recreational cannabis and industrial hemp products in Uruguay as well as a fully licensed producer of medicinal cannabis in Colombia. The Company has active operations in Uruguay, and is focused on becoming the worldwide leading producer of cannabinoids extracts, giving support and promoting the responsible use for medicinal purposes, backed by scientific research and innovation, while following strict compliance and the highest standards for quality and safety.

For more information, please visit www.icclabs.com.

Contact:

ICC Labs Inc.

Alejandro Antalich, Chief Executive Officer

t: 598-2900-0000

e: ir@icclabs.com

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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: receipt of the requisite regulatory approvals required to complete the Research Programs and the ownership of any intellectual property related thereto. 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.