/ Corporate News

VANCOUVER, British Columbia, Sept. 14, 2022 (GLOBE NEWSWIRE) — Isracann Biosciences Inc. (CSE: IPOT) (XFRA: A2PT0E) (OTC: ISCNF) (the “Company”), a multi-faceted Israel-based company focused on becoming a premier low cost, high quality cannabis producer/distributor, is pleased to announce it has facilitated its first shipment of cannabis strains to Israel.

The agreement for genetics is directly between United Greeneries Ltd, a licensed Canadian producer of high calibre craft cannabis, and Intelicanna, a licensed Israeli medical cannabis grower and brand. Three initial premium strains are included in the agreement, with the provision for additional strains. Under a revenue sharing agreement, United Greeneries shall be responsible for cultivation and genetics support, with in-country support provided by Isracann.

“Israel is the largest importer of Canadian cannabis in the world,” notes CEO Phil Floucault. “The primary reason for this is that the domestic market lacks the high THC strains that are available outside the country. I am excited that Isracann, through our agreement with United Greeneries, was able to arrange for this shipment of genetics to Intelicanna and we look forward to expanding this offering. United Greeneries Ltd. continues to deliver some of the highest potency Sativa and Indica strains to the domestic Canadian market and look to support Intelicanna to do the same in Israel.”

Since 2021, Intelicanna has been growing and selling medicinal cannabis for the Israeli market under the Intelicanna brand. Their HaSharon facility is one of the most advanced in Israel, and includes 5,500 m2 of hybrid greenhouse with full light, shade, and climate controls.

Phil Floucault continues, “This first shipment is due to arrive in Israel in the near term. We have been working with Intelicanna to have everything ready to receive the clones and expedite the process of scaling up to full production. In a short timeline, Canadian quality cannabis will be grown in Israel.”

On Behalf of The Board of Directors

“Phil Floucault”

Phil Floucault
Chief Executive Officer and President

About Isracann Biosciences Inc. (CSE: IPOT) (XFRA: A2PT0E) (OTC: ISCNF)
Isracann is a multidisciplinary cannabis focused producer and product developer with Israeli-based cannabis production farm assets and a Canadian natural health medicine development and production arm. Concurrently focused on initial retail sales in Canada and in becoming a premier cannabis producer offering low-cost domestic Israeli production, the Company aims to commercialize natural health medicines in Canada and to leverage agreements within Israel for import/export opportunities and medicinal marijuana cultivation. For more information visit: www.isracann.com.

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Forward-Looking Information
This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements may include, without limitation, statements relating to the Company delivering products to market in Q4 2022 and the Company’s plans to expand its distribution network in Canada and North America. The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. All forward-looking statements in this press release are made as of the date of this press release. The forward-looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are described from time to time in the Company’s documents filed from time to time with the CSE, the British Columbia Securities Commission, the Alberta Securities Commission, and the Ontario Securities Commission. Although Isracann believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Isracann expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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