International Cannabis Corp brings Uruguay to compete with Canopy Growth, Aphria Inc

James West
|

International Cannabis Corp. (CVE:ICC) is the newest marijuana stock to hit the Canadian TSX Venture market, and it’s got a different business model than either Canopy Growth Corp (TSE:CGC) (OTCMKTS:TWMJF) or Aphria Inc. (CVE:APH). ICC is growing cannabis in Uruguay of all places, the tiny South American country that borders Argentina on the north, and is known fondly as the Switzerland of Latin America. The nation of 3.4 million, however, boasts a marijuana user base estimated at over 55,000 people who smoke up to 40 grams per month. Total demand for recreational and medical marijuana in Uruguay, which are both legal, is said to be 27 million tonnes annually.

ICC plans to produce an initial two million tonnes from an indoor greenhouse operation that includes a 1,630 square meter vegetation room and a 3,400 square meter flowering as well as drying, extracting and processing space totalling 64,500 square meters. ICC says it has upwards of 40 hectares (about 100 acres) for expansion.

The company is planning to ramp up to 15 tonnes per annum as it targets the medical marijuana industry in Brazil. ICC says it has an advantage in that it is in prime position to supply Latin America’s total population of 620 million with its first mover status, and plans to become the leading South American producer of cannabis for both the recreational and medical markets.

ICC is also planning to distribute extracts and edibles as part of its core business strategy, and has launched a retail brand called “Grow,” that will produce vaporizers, edibles, tea, soda, energy drinks, cosmetics and other consumer oriented products are derived exclusively from its agricultural output.

ICC is one of only two licenses granted in Uruguay, and the second licensee is not known to have commenced production at this point.

The company has a total of 112 million shares outstanding.

James West

James West

Editor and Publisher

James West founded Midas Letter in 2008 and has since been covering the best of Canadian and US small cap companies. He covers global economics, monetary policy, geopolitical evolution, political corruption, commodities, cannabis and cryptocurrencies. As an active market participant, James is not a journalist and is invariably discussing markets...
More Info...

[email protected] | |

Midas Letter is provided as a source of information only, and is in no way to be construed as investment advice. James West, the author and publisher of the Midas Letter, is not authorized to provide investor advice, and provides this information only to readers who are interested in knowing what he is investing in and how he reaches such decisions.

Investing in emerging public companies involves a high degree of risk and investors in such companies could lose all their money. Always consult a duly accredited investment professional in your jurisdiction prior to making any investment decision.

Midas Letter occasionally accepts fees for advertising and sponsorship from public companies featured on this site. James West and/or Midas Letter may also receive compensation from companies affiliated with companies featured on this site. James West and/or Midas Letter also invests in companies on this site and so readers should view all information on this site as biased.