VANCOUVER, British Columbia, Sept. 06, 2018 (GLOBE NEWSWIRE) — Integrated Cannabis Company, Inc. (CSE: ICAN, OTCQB: ICNAF) (the “Company” or “Integrated Cannabis”), is pleased to provide a corporate update.
Commercial Stage Products: X-SPRAYS™
The Company’s X-SPRAYS™ product line consists of eight market ready orally ingested spray products that are highly effective for overall health and well-being as well as general lifestyle. Four products are available infused with hemp-based cannabidiol (CBD) and four products are formulated without a cannabidiol (CBD) infusion. The state of the art formulations are free from artificial flavours, artificial colours, sugar, starch, wheat, soy, gluten, eggs, salt and dairy. The sprays contain natural fruit and/or herbal flavours and are suitable for vegetarians and vegans. The products are highly bioavailable such that the active ingredients in the sprays are already fully dissolved, so the vitamins and minerals do not need to be further broken down once swallowed, but are immediately available for use by the body.
The X-SPRAYS™ product line is packaged in precise, metered dose and convenient spray tubes including a child-resistant version, both of which easily fit into a purse or pocket and are ideal for travel. The container protects the liquid from light and air, ensuring the quality and shelf life of the ingredients.
The full product offering is listed below in Table 1.0.
|Product Name||Product Description / Use|
|CBD||Stress relief, pain management|
|Sleep with CBD||Sleep aid, non habit forming|
|Sleep||Sleep aid, non habit forming|
|Libido||Aphrodisiac, enhance sexual vitality|
X-SPRAYS™ Test MarketingOnline sales of the X-SPRAYS™ were initiated in late 2017 and have continued up to the present. These sales have been encouraging, considering the previously limited marketing budget, and the Company has seen numerous repeat customer orders which demonstrates product uptake and consumer affinity for the X-SPRAYS™.
In addition to Internet sales, the Company has test marketed selected products in two Medical Marijuana dispensaries in Colorado. These sales began in February 2018 and continue. Proceeds from these sales have been reinvested in Colorado marketing initiatives. The Company has learned, however, that marketing combined with in-store promotions can generate minimum sales in excess of 1 product per day in the retail environment. While this number is insignificant from a revenue perspective on a small scale retail distribution, it becomes significant when considering retail distribution outlets in the hundreds of locations. A single product selling only one unit per day in 100 stores could generate wholesale revenue in excess of tens of thousands of dollars per day. The Company has four products that are CBD infused, four non-CBD infused and a soon to be launched line of THC products that will have multiple SKU’s. With market testing complete, X-SPRAYS™ plans to roll out additional brick and mortar distribution throughout dispensaries, vape stores, gas stations, and convenience stores across the country.
Additionally, the Company intends to launch an aggressive online marketing campaign to drive sales through the utilization of traditional on-line channels and via established product influencers.
“We are currently in the late stages of reviewing a short list of potential acquisition opportunities that would broaden our product offering from the existing X-SPRAYS™ line to potentially licensed Cannabis formulations in several US States,” said Mr. John Knapp, CEO of Integrated Cannabis Company. The Company will provide additional updates as required.
About Integrated Cannabis Company
Integrated Cannabis Company, Inc. is comprised of dedicated scientists and product engineers who are passionate about health and creating health and lifestyle products utilizing advanced delivery systems and formulations. For more information, please visit the company’s website at: www.x-sprays.com.
ON BEHALF OF THE BOARD
Chief Executive Officer
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The CSE does not accept responsibility for the adequacy or accuracy of this release.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Source: Integrated Cannabis Company Inc.