2019-07-18 02:16 ET - News Release

Mr. David Shpilt reports

INTERNATIONAL CANNABIS TO SUPPLY NEW ZEALAND'S NUBU PHARMACEUTICALS WITH PORTFOLIO OF FULL-SPECTRUM PHARMACEUTICAL THC/CBD PRODUCTS

ICC International Cannabis Corp. has entered into an exclusive supply and commercial rights agreement with licensed New Zealand medical cannabis company, Nubu Pharmaceuticals.

Under the terms of the agreement, ICC will supply Nubu will a suite of full-spectrum pharmaceutical-grade medical cannabis products, including:

Packaged and labelled medical cannabis, including: oil/tincture and capsules in finished goods form;

ICC-branded, co-branded and/or ICC-labelled medical cannabis products under development, including, but not limited to: Cannabis oil; Capsules; Transdermal patches; Oral sprays; Inhalers; Vaporizing cartridges;

Hemp-derived CBD (cannabidiol) adhering to the international standard of less than 0.3 per cent THC (tetrahydrocannabinol), in both bulk form (that is, CBD isolate, CBD distillate and full spectrum oil) and finished good forms.

ICC will leverage its existing brand portfolio, European GMP-(good manufacturing practices)-certified processing facilities and extraction-ready inventories to maximize margins and profitability, while servicing New Zealand's high-value patient population. The company remains committed to servicing all links of the cannabis value chain, including the manufacture and export of finished product to developing international marketplaces.

Founded in 2017, Nubu Pharmaceuticals is widely considered a first mover within New Zealand's high-value medical cannabis industry. In partnership with ICC, Nubu is now equipped with the best-in-class product formulation and supply chain infrastructure required to deliver reputable and clinically effective medicinal cannabis products into the New Zealand marketplace.

Earlier this year, Nubu was awarded a licence to deal in controlled drugs by New Zealand's Ministry of Health and a licence to sell medicines wholesale, which will allow the company to import and distribute ICC-manufactured THC/CBD products ahead of other local market participants.

David Shpilt, chief executive officer of International Cannabis, stated: "ICC's exclusive supply and commercial rights agreement with Nubu successfully catapults the company into yet another high-value medical cannabis jurisdiction. The marriage of International Cannabis's superior product formulation capabilities and extensive CPG/branded product market entrance experience, coupled with Nubu's unique CBD/THC distribution infrastructure, will permit continued brand loyalty, while addressing priority medical conditions within the Asia Pac theatre.

"In collaboration with Nubu, the company is also in discussions about the distribution of a number of premium value-add medicinal and wellness products from New Zealand to export markets internationally. ICC now boasts supply, distribution and commercial rights agreements with a host of high-profile cannabis operators across a variety of territories primed for exponential growth, such as India, Germany, New Zealand and Colombia."

The company also announces that it has issued a total of 318,757 common shares of the company to JYT Partners Ltd. (the consultant), in consideration for services rendered pursuant to the terms of a consulting agreement entered into with the company and invoices received by the company dated Sept. 30, 2018, to June 30, 2019.

The common shares are being issued as a shares-for-services transaction. Pursuant to the terms of the agreement is the following.

The deemed price of 44,118 common shares is 68 cents, which was calculated by using the volume-weighted average closing share price on the last five trading days of September, 2018. The deemed price of 80,550 common shares is 27.3 U.S. cents, which was calculated by using the volume-weighted average closing share price on the last five trading days of December, 2018. The deemed price of 66,027 common shares is 34 U.S. cents, which was calculated by using the volume-weighted average closing share price on the last five trading days of March, 2019. The deemed price of 128,062 common shares is 17.9 U.S. cents, which was calculated by using the volume-weighted average closing share price on the last five trading days of June, 2019.

The company confirms that the securities issued have not created a new control person of the issuer.

A finder's fee is payable on this transaction.

About ICC International Cannabis Corp.

ICC International Cannabis, through its subsidiaries, has operating assets and is developing a world-class platform for cultivation, extraction, formulation and distribution across the globe in the United Kingdom, Denmark, Poland, Switzerland, Germany, Macedonia, Bulgaria, Serbia, Croatia, Greece, Italy, Portugal, Malta, Colombia, Argentina, Australia, South Africa and Lesotho.

We seek Safe Harbor.