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
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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