The International Cannabis Corporation — based in Vancouver, British Columbia, Canada — has been approved to sell cannabis in Uruguay under the country’s nationwide cannabis legalization rules. Cannabis sales through pharmacies are set to begin on Wednesday, according to the Institute of Regulation and Cannabis Control.
Under federal law, the price and packaging of cannabis products are set by the government – allowing 5-gram packages of cannabis to be sold to permanent residents 19-and-older at $6.50 per package.
“The ICC team has worked diligently with the government agencies and regulatory bodies to establish high-quality standards and a transparent framework for legal non-medical cannabis sales,” said Alejandro Antalich, ICC CEO, in a press release. “Uruguay has quickly established itself as a leader in the cannabis and CBD industries in South America and globally.”
The company is also constructing the first CBD extraction laboratory in South America, built in Uruguay’s Science Park Free Trade Zone. The facility, slated for an April 2018 launch, will use supercritical CO2 extraction techniques.
“ICC continues to innovate and execute on its strategy of becoming the trusted producer and distributor medical and non-medical cannabis and CBD,” Antalich said.
Under the rules, approved four years ago, cannabis customers can purchase up to 40 grams per month, but must also sign up with a national registry. Home growers and cooperative clubs are allowed to grow up to 99 plants.