BETHESDA, MD. October 29, 2018 / India Globalization Capital, Inc. (NYSE American: IGC) announces today that it is in the process of evaluating applications with alternative exchanges in the U.S. and Canada to list its common stock for public trading. IGC is working diligently to complete this process as quickly as possible and will provide additional updates in the very near term. Liquidity, elimination of unfair restrictions with respect to the commercialization of products, and customized support are expected to be key selection points.
“We strongly disagree with the NYSE decision and will seek listing on an exchange that embraces our innovation. We have been transparent in disclosing our active legacy operations and should not be penalized for moving forward to commercialize products in the emerging U.S. cannabis industry. As a publicly traded company with cannabis ambitions, we are under great scrutiny and we intend to navigate the course for all our stakeholders and individuals seeking access to our innovative products including those under development,” stated Ram Mukunda, CEO
About India Globalization Capital Inc.
India Globalization Capital, Inc. (”IGC”) has developed a patent-pending cannabis-based combination therapy to treat endpoints of Alzheimer’s including plaques, tangles, anxiety, agitation and other NPS, which it plans to market through Canadian and U.S. medical dispensaries in early 2018. Its pipeline includes cannabis-based medications for end points of Parkinson’s, pain, nausea, eating disorders and epilepsy in cats and dogs. The company is also working on leveraging its expertise to develop blockchain technology based solutions for the cannabis market. IGC has a legacy business based in India, through which it is engaged in infrastructure and commodity trading, and in Malaysia it is engaged in real-estate management. IGC’s registered US office is located in Bethesda, Maryland. The company maintains an R&D center in Washington State and also has a back office in Kochi, Kerala India.
IGC announces intention to develop blockchain solution for cannabis market
On December 26, 2017, IGC announced that it plans to utilize blockchain technology to address industry issues specific to the medical cannabis industry. The company cited areas including product identification assurance (PIA), inadequate product labeling, transactional difficulties, and product origin assurance as areas that it was seeking to address. Clearly, blockchain technology, which uses a continuously growing list of records, called blocks, which are linked and secured using cryptography to manage large databases securely, is an area of high attention given its robust growth and crucial role in cryptocurrencies. We believe the company intends to develop a platform first for Hyaolex’s go-to-market strategy in the dispensary market, with an aim to leverage the platform for the highly regulated and rapidly evolving cannabis industry.
About Alzheimer’s Disease
Alzheimer’s Disease (AD) is a form of dementia. It is known as America’s most expensive disease, with an estimated cost to the U.S. economy of $236 billion. AD currently affects more than 5.3 million Americans and over 65% of AD patients are women. Over the next 20 years, the number of those afflicted with the disease is expected to double. The forecast is staggering, considering that to date, no effective cure has been found.