International Cannabis eyeing unique EU opportunity after it receives Greek cannabis cultivation licence

International Cannabis Corp’s (CSE: WRLD, OTC:KNHBF) European ambitions just got boosted – as the company has been granted a medical cannabis cultivation licence by the Greek government.

This adds to the existing hemp licence the company has in the country.

The licence – the first of its kind to be issued in Greece -  is needed for pre-approval to grow medical Cannabis in the Greek prefecture of Imathia.

Greece is a member of the EU, the latter having a population of over 500 million, so it gives the firm a unique opportunity to service this high-growth marketplace.

“Receipt of the first medical Cannabis cultivation licence to be issued by Greece represents a strong endorsement of the company’s seed to sale initiatives globally, and in the EU in particular,” said Eugene Beukman, the CEO and a director at ICC.

“This is a material milestone for both the industry and the company, of which International Cannabis is very proud.

“Greece is a favoured tourist destination, which ICC believes could be the next great Cannabis holiday haven abroad.

“ICC’s Greek contingent has been working towards this licence for the past 18 months and has built long-term relationships with local officials and government ministers. Through collaboration with ICC, Greece is presented with a unique opportunity to expedite the realization of the benefits of a legalized cannabis industry.”

Greece will operate as ICC’s southern European cultivation and production hub, it said.

The company controls a 16-acre land package in northern Greece, which will be dedicated to medical grade cannabis cultivation, extraction, distribution, as well as research and development (R&D).

Greece boasts more than 300 days of unadulterated sunshine per year, which means an attractive climate for outdoor Cannabis cultivation.

ICC’s distribution network of around 35,000 pharmacies throughout 16 countries will complement the company’s Greek cultivation capabilities, it added.

In connection with receipt of the licence, ICC will pay US$200,000 in cash and will issue 12 million shares.

Story by ProactiveInvestors