ICC International Cannabis (TSXV:ICC) announced it has entered into a presales agreement for the sale of CBD oil under the company’s new CBD oil line in Mexico.
As quoted in the press release:
Pursuant to the agreement, until the end of 2018, ICC will export to Grupo Fénix for medicinal purposes 10% of its CBD oil production at prices to be determined under a definitive agreement. ICC expects to produce 1.2 million 30 millilitre bottles of CBD oil in 2018.
On June 19, 2017, Mexico’s regulators passed legislation that legalized the use of cannabis oil and other cannabis derivatives for medicinal purposes. The legislation is intended to provide medical patients access to CBD and other cannabis products.