--Management undertakes extensive review of action plan, vendor activities and tour of regional land opportunities
VANCOUVER, British Columbia, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Isracann Biosciences Inc. (CSE: IPOT) (XFRA: A2PT0E) (OTC: ISCNF) (the “Company”) an Israel-based company focused on becoming a premier low cost, high quality cannabis producer for both domestic and European export sales, is pleased to provide a summary of activities, actions and opportunities identified during a recent official visit that encompassed extensive travel across Israel.
Company CEO, Darryl Jones reports, “Our recent activities have been noticed by regional agricultural interests who have approached us with opportunities of potentially desirable and strategic merit. We travelled across much of the southern agricultural regions to inspect both our current asset investments, and also to investigate a number of regional public and private land packages that have been brought to our attention. We took particular note of several private holdings that offered significant fast-track attributes with a variety of infrastructural assets in-place. As they are private lands, there is an added benefit of reduced regulatory hurdles in regards to land use and permitting. Planning in this region requires foresight, and we are always looking towards the future and ability for growth.”
During the visit, meetings were held with several key vendors and contractors discussing ongoing agronomic plans, architectural and infrastructure details, construction proposals, timelines and milestones. The Company is very pleased by reports that all activities are in conformity with its overall master plan, and that the various consultants are fully engaged and are either prepared or are preparing to undertake their respective roles as the approaching milestones unfold.
Isracann’s VP of Operations, Matt Chatterton comments, “I am very pleased by the activity on the ground and looking forward to the installation of our facilities and commencement of agricultural activities.”
“During the trip, we also had the opportunity to visit with several firms and individuals who may eventually play an instrumental role in either manufacturing and/or the research and development of products for both domestic and international consumer audiences,” notes Mr. Jones. “We have a preliminary plan for domestic sales and export products, but our heightened visibility in Israel has opened a number of doors. This has resulted in intriguing discussions regarding new product development, marketing activities and conversations regarding future trends for cannabis products. This visit was a great success and laid several new foundations, identified some interesting opportunities and clarified a number of key factors for developments that could support growth and increase shareholder value.”
The Company also wishes to announce that it has granted 400,000 options to purchase common shares of the Company in accordance with its stock option plan to a new consultant of the Company. Each option is exercisable at a price of $0.51 per share for a period of two years, expiring February 25, 2022. Additionally, the Company announces that it is extending its agreement, previously announced on Nov. 6, 2019, for investor relations and marketing with CDMG Inc. to raise public awareness of the Company.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer and President
About Isracann Biosciences Inc.(CSE: IPOT) (XFRA: A2PT0E) (OTC: ISCNF)
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.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
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.
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