International Cannabis Corp. President Resigns

International Cannabis Corp. has announced that long-standing president Michael Martinz has left the business.

He joined the company in April 2014 after a long career in the medicinal cannabis and hemp industries and oversaw two name changes during his tenure as president. It was first called Annexco Resources Ltd. and it rebranded as Kaneh Bosm Biotechnology Inc before it was renamed ICC last year.

Martinz began working in the hemp trade in 1999, when he helped set up one of Canada’s first industrial producers on a 1,000-hectare plot in Saskatchewan. Within the medical cannabis industry, he is known for developing the Centurion trimming and processing machine, while he has also designed and operated a number of cultivation facilities around the world.

ICC said it would like to sincerely him for his many years of services to date and it wished him the best of luck with his future endeavours. Chief financial officer Peter Nguyen has been added to the board of directors.

A Cutting-Edge Cannabis Vending Machine

The firm also announced it has gained exclusive international distribution rights to a self-dispensing cannabis vending machine after purchasing VendaPharm for $2 million in stock.

VendaPharm has created a proprietary kiosk that employs a raft of cutting-edge technology in a bid to make it easier to buy marijuana. It uses facial recognition software, cameras, and sanitary delivery bays and it dispenses a wide range of CBD and THC-based products.

They include vaporizers, pre-rolls, therapeutic relief balms, oils, topicals, tinctures, and gels. The vending machines have comprehensive inventory management software to ensure they remain well-stocked, while they feature data aggregation and analysis tools. The LED screen can also run third-party advertising to create a further source of revenue.

ICC plans to deploy the vending machine across the network of 80,000 retailers it claims to distribute to. The VendaPharm machines apparently went down a storm at the Women in Medical Cannabis Conference in London last month, and Vancouver-based ICC sees Europe as a key potential market for them.

Chief executive David Shpilt said the rollout of the machines would allow it to “rapidly scale up the introduction of ICC branded SKU’s into the burgeoning European marketplace”.

“More people than ever, including millennials, are choosing convenience stores as their primary source of produce and ICC seeks to place vending machines in these high traffic locales, particularly chains or franchises along major thoroughfares,” he added.

Elvis and Marilyn Join Forces to Promote Sexual Wellness

ICC has also announced that it is “aggressively developing” a range of CBD-based health and wellness products. They will come under celebrity brand names including Elvis Presley, Marilyn Monroe and Greg Norman, plus Thalia, Tretorn, Aéropostale and Frederick’s of Hollywood.

They aim to cater to consumer categories including beauty and cosmetics, foot care, remedy and “sexual wellness”, while there are also products for pets. The Elvis Presley and Marilyn Monroe lines are listed as being geared towards sexual wellness.

ICC stock reached $0.49 on Jan. 15, 2019, after a strong start to the year, but it has steadily decreased and opened at $0.18 today.

The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Capital 10X hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.

Martin Green
Martin Green is an experienced journalist with a strong focus on the cannabis, alcohol, and gambling industries. He is particularly interested in the political issues affecting the global marijuana trade, and he has a keen focus on regulation changes and legal topics. He holds a BA English Literature, MA Creative Writing and a National Qualification in Journalism diploma. He has worked in journalism since 2009 and written for a broad range of newspapers, business titles and magazines, including The Sun, The Metro, The Journal, Livestrong, Drinks Retailing News, Harpers, Sportsbook Review, Vital Football, Essex Live and Surrey Live.

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