International Cannabis has entered into a Letter of Intent, pursuant to which the companies will complete a Definitive Purchase Agreement on or before March 1, 2019, to acquire 49.9% of Wayland Group’s international assets and licence portfolio. Wayland’s international assets and licences will be held in a subsidiary, owned by Wayland and International Cannabis. The International Subsidiary will include key management from Wayland.
Upon closing of the transaction, International Cannabis will acquire a 49.9% interest in the following operations, partnerships, licences and asset exposure:
- German cannabis import license, indoor medical cannabis cultivation license application, 820,000 ft2 facility with 50,000 sq. ft. certified packaging/distribution center (replacement cost of 110M Euro), annual production of over 2,400 kg of CBD isolate, 165 hectares of CBD cultivation operations, as well as a three-year agreement to supply medical cannabis to 2,200 pharmacies.
The 820,000 ft2 Ebersbach Facility has a replacement cost of 110M Euro. Of the many applicants for German medical THC cultivation licenses, only two have a completed facility and of those that do, the largest is 14,000 sq. ft. or 1.7% the size of the Ebersbach Facility.
- Swiss cannabis cultivation operation, with 60,000 square foot cultivation facility, proprietary genetics portfolio available for export, THC distillate import capabilities and material revenues from Haxxon AG operations;
Leading candidacy for one of seven medical cannabis licences to be issued by the Italian government, as well as an ownership interest in a joint venture to produce Cannabis products; - Maltese license to manufacture finished-dose medical Cannabis;
- Colombian licences for THC/CBD production, extraction and export and pending access to a EU-GMP certified API facility for Cannabis distillate processing;
- Leading candidacy for UK-based medical Cannabis import license, Australia late stage medical Cannabis applicant;
- Leading candidacy for the first Argentinian Federal Medical Cannabis licence, approval expected in early 2019, existing supply agreements for CBD products; and
- Integration of Wayland’s European operations teams into the International Subsidiary.
Eugene Beukman, Chief Executive Officer and a Director of International Cannabis, stated: “This is a watershed acquisition for International Cannabis; adding cannabis operations in a variety of high profile jurisdictions, all while increasing exposure to high growth marketplaces including Germany and the Asia Pacific theatre. This acquisition will solidify ICC as a global Cannabis leader, with exposure to a broader range of countries than any competitor to date. ICC will have the most robust portfolio of international cannabis assets to date and is well on its way to accomplishing its mandate to be the largest vertically integrated Cannabis Company in the world. International Cannabis will work with Wayland to expedite a comprehensive integration of its experienced operations team into the International Subsidiary”.
For more information:
International Cannabis Corp.
Suite 810 – 789 West Pender Street Vancouver, BC V6C 1H2
604 687-2038
info@intlcannabiscorp.com
intlcannabiscorp.com