ICC International Cannabis Corp (OTCMKTS:KNHBF) is a relatively new player in the cannabis space as a publicly traded entity. The stock is still just starting to build up tape depth and liquidity for traders but could be an interesting stock to keep on the radar as the story gets traction.
The company recently announced it has entered into a definitive agreement to acquire 100 percent of Enigma Unipessoal Lda. According to the release, Enigma controls one of the first hemp licenses to be issued in Portugal, which permits the cultivation, processing and import/export of hemp-derived products. Enigma successfully harvested and extracted its first hemp crop in 2015, and has become a notable importer of proprietary hemp seeds.
ICC International Cannabis Corp (OTCMKTS:KNHBF) frames itself as a company that engages in the cannabis business in Canada and internationally.
The next big cannabis story to hit North America is Phoenix Life Science International (PLSI), traded in the US, but with the largest global production based in the tropics and a license to distribute worldwide. Take a look at Phoenix Life Science International PLSI), Its currently trading under $18 dollars per share on the OTC markets. Learn More Now!
It holds a license to cultivate, manufacture, supply, hold, import, export, and transport cannabis and derivative products; and engages in procuring and distributing medical cannabis products and cannabis derivatives.
ICC International Cannabis Corp. has a strategic alliance with GreenTree International Inc. The company was formerly known as Kaneh Bosm BioTechnology Inc. and changed its name to ICC International Cannabis Corp. in September 2018.
ICC International Cannabis Corp. was incorporated in 2006 and is headquartered in Vancouver, Canada.
As the company notes, “ICC International Cannabis, through its subsidiaries, has agreements in place for European-based pharmaceutical distribution, wholesale importation, and research and development, as well as licenses to cultivate, produce, distribute, store and export cannabis, cannabis derivatives and industrial hemp in Colombia, Denmark, Poland, Greece, Portugal, South Africa and the Kingdom of Lesotho.”
As we discussed earlier, KNHBF recently announced it has entered into a definitive agreement to acquire 100 per cent of Enigma Unipessoal Lda.
Even in light of this news, KNHBF has had a rough past week of trading action, with shares sinking something like -11% in that time. That said, chart support is nearby and we may be in the process of constructing a nice setup for some movement back the other way. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -26%.
Eugene Beukman, CEO and a director of International Cannabis stated, “International Cannabis is progressing towards a full spectrum cannabis license in Portugal, which it is hopeful to achieve before the end of Q1 2019. The Company considers the addition of this hemp license as the first step towards developing a material cultivation presence in Portugal. International Cannabis has long been focused on developing a capable team in Portugal. The Company is confident that this acquisition lays an excellent foundation for the comprehensive build out of a vertically integrated Portuguese operation. ICC’s expansive distribution network will allow for continued penetration of the European Union’s burgeoning CBD markets and appetite for natural health products.”
ICC International Cannabis Corp (OTCMKTS:KNHBF) doesn’t seem to have any publicly available financial information that we could find on any of the major financial sites, which is obviously a bit of a turn-off. So we would recommend staying away until they get this rectified. If they want to court investors and traders, this is square one.
It takes very little to establish these relationships and get their ducks in a row. Without this simple gesture, one wouldn’t want to give them the benefit of the doubt. However, if they manage to successfully deal with this issue, then it might be an interesting stock.
Pushing the barriers for global distribution, Phoenix Life Science International (PLSI) is the next cannabis play. Just think Canopy x 100, that is how big their plantation in the tropics will be. No lights, no green houses, just maximum growth + minimal cost = home run. Learn More Now!
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