Isracann Increases Focus on EU Demand
Ryan Allway
May 14th, 2020
News
Company Targets Anticipated EU Undersupply and Growing Opportunity
VANCOUVER, British Columbia, May 14, 2020 (GLOBE NEWSWIRE) — Isracann Biosciences Inc. (CSE: IPOT) (XFRA: A2PT0E) (OTC: ISCNF) (the “Company” or “Isracann”) an Israel-based company focused on becoming a premier low cost, high quality cannabis producer is accelerating efforts to service an anticipated increase in demand for both domestic and European markets.
As the current COVID-19 health crisis extends into the second quarter of the year, global supply chains for cannabis are facing new challenges to meet growing demands. Licensed North American and European Cannabis operations require significant and ongoing inputs of fertilizers and nutrients along with extensive skilled labour to ensure their timely ability to plant, grow, harvest, test and receive approval to ship at scale in order to service their domestic and international obligations. As noted in the European Cannabis Report (5th Edition, Feb. 2020) actions to increase domestic European supply are fragmented with Germany in the midst of regulatory framework development, Italy contracting with a Canadian supplier to meet demand and Denmark importing virtually all its supply needs. This environment indicates the overall EU supply is lagging. Combined with the current unprecedented health circumstances, production stressors may result in potential delivery shortfalls, testing existing suppliers’ ability to meet the needs of clinical trials and medical consumers throughout the EU.
Isracann aims to respond to this anticipated undersupply by leveraging Israel’s advanced agronomics, excellent domestic input supply, over 300 days of sunshine annually and access to major Mediterranean shipping routes to create an achievable and rapid path to success. The previously announced distribution partnership on the island of Malta offers obvious financial incentives plus sophisticated and highly regarded EU trading relations, but the Company remains open to a number of intriguing options ensuring rapid transhipment of future harvested goods to the many high value continental markets.
“Regarding our European plans, our Hefer valley farm is making great strides this week,” states VP of Operations Matt Chatterton. “We engaged a specialist Israeli consultant to advance the certification of the farm to EU-GMP standards thereby paving the way for our export distribution. In addition, the related post-harvest export facility is nearing readiness and should be completed next week.”
Today, the Company received notification that the local authorities have completed the mandatory security inspection of the facility. No early reports of any deficiencies were identified, and the certification consultant is preparing the final report to the Ministry of Health for recommendation of final approvals. Subsequent plans to advance to planting are imminent and anticipated to commence next week.
Company CEO Darryl Jones notes, “All reports from Israel are highly favourable and we appear to be days away from having seeds in the ground. This news combined with a growing sense of urgency across the domestic and European marketplace is genuinely exciting.”
In related news, the Company wishes to announce that it has granted 2,800,000 stock options at an exercise price of CAD$0.19 to directors and officers of the Company to purchase an aggregate 2,800,000 common shares in the capital of the Company. The stock options are exercisable for a term of three years and vest immediately. The Company has also granted 200,000 stock options at an exercise price of $0.19 to investor relations consultants which vest 25% every 3 months for one year. All stock options are granted in accordance with the terms of the Company’s stock option plan and the policies of the CSE.
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: 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. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. There can be no assurance that such statements, including the impacts of the COVID-19 pandemic and supply and demand trends in the cannabis industry, 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
Email: inquiries@isracann.com
Web: www.isracann.com
News Provided by
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
Search CannabisFN
Press Coverage
Psychedelics Index
Top Videos
Alan Brochstein’s 420 Investor is the go-to community for investors to learn, explore, and profit from the marijuana companies. The main goal of 420 Investor is to provide real-time, objective information about the top marijuana companies in the market in order to help investors capitalize on cannabis.
Watch CFN Media’s exclusive three part interview with Paul Rosen, one of the most active and diversified investors in the emerging cannabis industry. Paul gives his insights on the global cannabis industry and discusses his new endeavors. Become a CFN Media Client Paul Rosen is a noted career entrepreneur and management consultant. Over the last […]
Innovium is a global beverage and foods brands platform that builds on consumer market trends and takes them to scale.
Amercanex was founded with the sole-purpose to ensure a completely transparent, neutral, and non-manipulated marketplace for cannabis industry participants.
Network Partners
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer
