Breaking #Cannabis #Stock News - Isracann
Biosciences (CSE: $IPOT.C) Launches Phase One Facility Development
Program in Israel
Company aims to develop top regional
cannabis brands for entry into EU marketplace
VANCOUVER BC, October 28, 2019 (Investorideas.com Newswire) - Isracann Biosciences Inc. (CSE: IPOT) formerly Atlas
Blockchain Group Inc. (CSE: AKE) (XFRA: A2PT0E) (OTC: ATLED) (the “Company”) is
pleased to provide an operative overview and update regarding facility
development activities in Israel.
Concurrent
to and as part of the Company’s recent listing on the Canadian Securities
Exchange it had satisfied the escrow release conditions for the net proceeds of
its highly successful CAD$10.1 million financing efforts which bolstered an
already healthy cash position.
This
positions the company to immediately accelerate its planned Phase One Facility
Design and Construction Services Program which consists of finalization of greenhouse
facility design for cannabis cultivation and production in accordance with an
existing technical specifications strategy; to rapidly advance greenhouse and
related facility construction per the design; ensure adequate controls are in
place against any diversion, theft and loss of cannabis products per regulatory
standards; and ensure compliance with other protective security, health, and
safety requirements in accordance with Israeli regulations.
To-date
Isracann has entered into agreements for the development of medical cannabis
cultivation projects with regional stakeholders holding preliminary breeding
and cultivation licenses issued by the Israeli Ministry of Health. The regional
stakeholder is required to renew these licenses each year and further bears the
cost of electricity, property and related land taxes and are bound to working
with Isracann to obtain the required licenses and to participate in the
construction of the greenhouses.
Company
CEO Darryl Jones notes, “We are very pleased to have achieved our very
important initial milestone targets with the CSE listing of our ticker symbol
“IPOT” and to confirm our accelerated investment plans in Israel are fully
under way. We have lined up several key organizations and personnel and look
forward to announcing a number of these key commercial agreements in the days
and weeks ahead. We thank all our supporters for their belief in us, and in our
belief that the Israeli agricultural sector will provide a huge leading role in
positioning the Isracann brand as market leaders in the massive and underserved
European cannabis marketplace.”
In
related news, the Company welcomes the recent appointment of Irit Arbel, Ph.D.
to its Board of Directors. Dr. Arbel brings significant senior
multidisciplinary biopharma and governance experience to Isracann’s board. She serves
as CEO, Co-Founder and Director of Neurocords Ltd., a company focused on
developing new treatments for peripheral and spinal cord regeneration, and
previously served as Director and President of Brainstorm Cell Therapeutics,
and as Executive Vice President of Research and Development at Savicell
Diagnostic, a biotechnology company. Dr. Arbel previously served as Chairperson
of Real Aesthetics, a company specializing in cellulite ultrasound treatment,
and BRH Medical, a developer of medical devices for wound healing. She was also
Director of M&A at RFB Investment House, a private investment firm focusing
on early-stage technology-related companies. Previously, Dr. Arbel was
President and Chief Executive Officer of Pluristem Life Systems, a
biotechnology company, and prior to that as Israeli Sales Manager of Merck,
Sharp & Dohme, a pharmaceutical company. Dr. Arbel earned her Ph.D. in 1997
in Neurobiology, after performing research in the area of MS. Dr. Arbel also
holds a Chemical Engineering degree from the Technion, Israel’s Institute of
Technology.
ON
BEHALF OF THE BOARD OF DIRECTORS
“Darryl Jones”
Darryl Jones
Chief
Executive Officer and President
About
Isracann Biosciences Inc. (CSE: IPOT) (XFRA:
A2PT0E) (OTC: ATLED)
Isracann is an Israeli-based cannabis company
focused on becoming a premier cannabis producer offering low-cost production targeting
undersupplied, major European marketplaces. Based in Israel's agricultural
sector, Isracann will leverage its development within the most experienced
country in the world with respect to cannabis research. The Company has secured agreements within Israel for
medicinal marijuana cultivation. For more information visit: www.isracann.com.
All statements,
other than statements of historical fact, included herein are forward-looking
statements that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ, materially from
the Company’s expectations are disclosed in the Company’s documents filed from
time to time with the Canadian Securities Exchange, the British Columbia
Securities Commission, the Ontario Securities Commission, and the Alberta
Securities Commission.
Contact
Investor
Relations
Toll
Free: +1 855.205.0226
Disclaimer/Disclosure: Investorideas.com
is a digital publisher of third party sourced news, articles and equity
research as well as creates original content, including video, interviews and
articles. Original content created by investorideas is protected by copyright
laws other than syndication rights. Our site does not make recommendations for
purchases or sale of stocks, services or products. Nothing on our sites should
be construed as an offer or solicitation to buy or sell products or securities.
All investment involves risk and possible loss of investment. This site is
currently compensated for news publication and distribution, social media and
marketing, content creation and more. Contact each company directly regarding
content and press release questions. Disclosure is posted for each compensated
news release, content published /created if required but otherwise the news was
not compensated for and was published for the sole interest of our readers and
followers. Disclosure : this news release featuring CSE: IPOT is a paid for
news release on Investorideas.com ($750) More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our
other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
No comments:
Post a Comment