logo-loader
viewICC Intl Cannabis Corp.

ICC International Cannabis Corp acquires stake in Macedonian drug manufacturer

The buyer said in a statement that the deal creates synergies with its existing Balkan-based medical cannabis and cannabidiol license portfolio

A woman holding a marijuana plant
Alkaloid, based in Skopje, Macedonia, has a workforce of more than 1,800

ICC International Cannabis Corp (OTCMKTS:WLDCF) (CSE:WRLD.U) said Thursday that it has acquired an interest in a Macedonian pharmaceutical manufacturer, Alkaloid AD Skopje.

Vancouver-based ICC said in a statement that the deal creates synergies with its existing Balkan-based medical cannabis and cannabidiol license portfolio. The cannabis company recently announced the acquisition of Macedonian medical cannabis cultivation and extraction licenses, as well as Bulgarian medical cannabis and hemp cultivation licenses.

READ: ICC International Cannabis agrees to buy Balkan Cannabis in deal adding to European operations

Alkaloid, based in Skopje, Macedonia, has a workforce of more than 1,800 employees and maintains a network of 16 subsidiaries in the US, Russia, Switzerland, Croatia, Slovenia, Bulgaria and Turkey.

The Macedonian company owns and operates a consortium of pharmaceutical and cosmetics manufacturing plants, including Good Manufacturing Practice-certified facilities. It reported revenue of more than C$171 million (US$121 million), according to its 2017 audited financial statements.

“International Cannabis’ stake in Alkaloid affords the company a dominant regional partner with over eight decades of pharmaceutical manufacturing experience,” Eugene Beukman, CEO of ICC, said in a statement.

Shares of ICC slipped US$0.04 to US$0.36 in Thursday’s Canadian trading. They were down US$0.02 to US$0.37 on the OTC Markets.

Contact Dennis Fitzgerald at [email protected]

Quick facts: ICC Intl Cannabis Corp.

Price: 0.025 USD

CSE:WRLD.U
Market: CSE
Market Cap: $17.65 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of ICC Intl Cannabis Corp. named herein, including the promotion by the Company of ICC Intl Cannabis Corp. in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

ICC International Cannabis boss says it is helping force the black market...

ICC International Cannabis Corp (CSE:WRLD) (OTCMKTS:KNHBF) CEO David Shpilt joins Christine Corrado in the Proactive Investors New York studio to talk about his thoughts on the decriminalization of cannabis in the Empire State, and how these changing regulations are a signal that the industry...

on 07/30/2019

2 min read