Isracann Closes JV Cannabis Farm Production Agreement With 3-Year Offtake in Israel - Seite 2

Company CEO, Darryl Jones notes, “Now that we have concluded the transaction, we are very pleased to be able to provide further insights into this exciting venture. Not only have we achieved a partnership agreement with a farm operation that is constructed, it also has already closed a major offtake agreement for the next three years.  As we noted previously this accelerates our timeline to production and revenue. We look forward to a rapidly advancing and mutually beneficial partnership with the team at Way of Life and for the continued success of the Cannation venture.”

The JV compliments the Company’s existing medical cannabis project in Nir Israel pursuant to its joint venture agreements held by its wholly owned Israeli subsidiary, Cannisra Holdings Ltd. The Cannisra project will be a bespoke cultivation project to which the Company has spent significant time, effort and expense planning, designing and making regulatory application for the development of the cultivation facility.

In related news, and as part of the closing of the Cannation JV, the Company has issued 500,000 shares to a consultant for achievement of a performance milestone.

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. 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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