VANCOUVER, BC, — (GLOBE NEWSWIRE – November 15, 2019) – Isracann Biosciences Inc. (CSE: IPOT) (FRA: A2PT0E) (formerly OTC: ATLED) (OTC: ISCNF) (the “Company”) an Israel-based company focused on becoming a premier low cost, high quality cannabis producer for both Israeli and European export sales, is pleased to announce that the Financial Industry Regulatory Authority, Inc. (“FINRA”) has approved the Company’s request to change its OTC ticker symbol to ISCNF, effective as of the opening of market trading on November 15, 2019.
The previous trading symbol was ATLED and has been changed to more accurately represent our corporate brand and primary operations in the cannabis sector. The Company is also pleased to announce that it has secured DTC eligibility by The Depository Trust Company (“DTC”) for electronic settlement and transfer of its common shares in the United States.
“Trading under the new OTC ticker symbol ISCNF and achieving DTC eligibility is a major step forward in making it materially easier for US-based investors who are intrigued by the idea of buying shares in an Israeli cannabis venture operated by sector experienced entrepreneurs and capital markets professionals. Our strategic aim is straightforward and leverages the national brand excellence of the Israeli agricultural industry combined with planned industrial scale production of low cost premium quality cannabis targeting export into the massive European marketplace. It’s a uniquely scalable venture that combines numerous positive attributes including a team that knows how to execute.” stated Darryl Jones, Company CEO. “This is an important step in propelling our story to wider audiences and to materially grow our investor base.”
No action is required to be taken by current shareholders with relation to the trading symbol change, and no changes have been made to the Company’s share capital, management, or control. Isracann’s shares will continue to trade on the Canadian Securities Exchange (CSE) under the symbol CSE: IPOT, as well as the Frankfurt Stock Exchange under the symbol FRA: A2PT0E.
Updates relating to the additional corporate changes mentioned above will be announced as initiatives continue to progress.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer and President
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The Depository Trust Company (“DTC”), a subsidiary of the Depository Trust & Clearing Corporation (“DTCC”) and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered “DTC eligible.” This reduces costs and accelerates the settlement process for investors and brokers, allowing the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements.
About Isracann Biosciences Inc. (CSE: IPOT) (FRA: 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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