Bethesda, Dec. 14, 2015 (GLOBE NEWSWIRE) -- India Globalization Capital, Inc. (IGC) announces today that it has executed a Distributor-Development Agreement with Cannabrands AG, a company listed on the Berlin Stock Exchange, to distribute hemp seed extract infused beverages including beer and energy drinks in select markets in the U.S. and Canada. Cannydrinks UG, a subsidiary of Cannabrands, has experience developing, marketing, and selling a family of hemp seed extract infused beverages in Germany.
Extracts derived from hemp seed—unlike those from the marijuana plant—are federally legal in the United States. Yet, hemp seed extract infusion adds CBD to beverages, which is thought to foster relaxation and pain relief. Additionally, hemp has a passionate following in the U.S. for its flavor, amino acid profile and other potential health benefits.
“Cannydrinks UG has already developed and successfully launched its products in Germany. Partnering with Cannabrands will therefore offer the shortest possible route for IGC to bring beverages containing CBD from hemp seed to new high potential markets, enabling rapid monetization and providing IGC with a first mover advantage. It should be noted that hemp seed extracts do not contain THC, the ingredient in marijuana that causes euphoria,” explained Ram Mukunda, IGC’s CEO.
“We are very excited to work with IGC on products for both the European and North American markets. In Germany, the customer response to our products has been very strong and we are confident that we will have a similar impact in North America,” stated Andre Muller, CEO of Cannabrands AG.
It is anticipated that IGC will commence regional sales activities in the upcoming quarters.
In addition to its plans for rapid monetization through the sale of hemp extract infused beverages, IGC is focused on developing medical and medicinal treatments containing cannabis extracts. As part of our portfolio, IGC is currently developing a nationwide brand using its formulation (IGC501) as an anchor for the treatment of debilitating pain with administration via a topical cream. IGC has several patent filings for the indications of Pain, Medical Refractory Epilepsy and Cachexia.
India Globalization Capital Inc. ("IGC") is based in Bethesda, Maryland.
Our website: www.igcinc.us. Twitter @IGCIR
About Cannabrands AG
Cannabrands AG is a private equity firm specializing in investments in the cannabis industry. The company is located in Germany and was formerly Anmathe Betriligungs AG and is listed on the Berlin Stock Exchange with the symbol JPK1:GR. The beverage subsidiary is Cannydrinks UG: www.cannydrinks.com.
Some of the statements contained in this press release that are not historical facts constitute forward- looking statements under the federal securities laws. Forward-looking statements can be identified by the use of the words "may," "will," "should," "could," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "intends," "potential," "proposed," or the negative of those terms. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond IGC's control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, our acquisition and diversification strategy, our competitive environment, and governmental, regulatory, political, economic, legal and social conditions. Except as required by federal securities laws, IGC undertakes no obligation to publicly update any forward- looking statements, whether as a result of new information, future events, or otherwise. Other factors and risks that could cause or contribute to actual results differing materially from such forward- looking statements have been discussed in greater detail in IGC's Form 10- K for fiscal year ended March 31, 2015, and in subsequent reports filed with the U.S. SEC.
Source:India Globalization Capital