CannabisNewsBreaks – Isracann Biosciences Inc. (CSE: IPOT) (XFRA: A2PT0E) (OTC: ISCNF) Enters MOU to Complete Cannabis Cultivation Facility Buildout
Dec 18, 2019
Isracann Biosciences (CSE: IPOT) (XFRA: A2PT0E) (OTC: ISCNF), an Israel-based company focused on becoming a premier low cost, high quality cannabis producer for both domestic and European export sales, on Tuesday announced its entrance into a memorandum of understanding (“MOU”) for a joint venture (“JV”) with a late stage cannabis farm in Israel. The JV is intended to complete a late stage buildout of a cannabis cultivation facility in an agricultural center proximal to several licensed producers (“LP’s”) west of Be’er Sheva, Israel (the “Be’er Sheva Farm”). Pursuant to the JV, Isracann will capitalize the buildout of the remaining construction in exchange for an economic interest in the project in compliance with Israeli laws. Following the signing of a definitive agreement, which is subject to continued due diligence of the Be’er Sheva Farm by Isracann, the terms of the joint venture will be released. “We’ve been evaluating several opportunities to expedite our commercialization plans and based on my inspection of the property this farm offers the ability to shorten our time-to-market. The fundamentals are already in place, including building permits, and the basic infrastructure is already constructed which accelerates timing. Once we conclude our due diligence efforts, the proposed plan will be to advance the technical efforts including completion of the greenhouse and concurrently implementing a project characterization strategy in preparation to planting. There is still a lot of work to complete, but our efforts at our Nir Israel farm have already provided us with regional business relationships, experienced advisors, and extensive preparations that we can readily extend and implement across both locations,” Isracann VP Operations Matt Chatterton stated in the news release.
To view the full press release, visit http://cnw.fm/1IIlb
About Isracann Biosciences Inc.
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 the company’s website at www.Isracann.com.
About CanadianCannabisWire
CanadianCannabisWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.CanadianCannabisWire.com
Please see full terms of use and disclaimers on the CanadianCannabisWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer
Do you have a questions or are you interested in working with CNW? Ask our Editor
CanadianCannabisWire (CNW)
Toronto, Ontario
www.CanadianCannabisWire.com
905.674.5977 Office
[email protected]
More News
BizDataDive: Why does a new drug require joint R&D?
In this episode, we explore why drug development knows no borders.
Explainer: Where do China-US economic and trade ties stand?
Chinese Vice Premier He Lifeng is leading a delegation to the United States for economic and trade consultations with the US side from September 19 to 23.
Billionaire Man United owner loses moral high ground after tax exile, Labour chair says
The billionaire businessman told the BBC he has lost confidence in the UK due to a combination of high taxes and high immigration.
US debt, physical constraints, and the restructuring of global capital
Global monetary tightening, energy supply disruptions and trade policy changes are creating structural cost pressures and capital reallocations across the global economy. These pressures are accelerating shifts toward local-currency financing, alternative debt markets and industrial transformation, particularly across emerging economies.
What to Do If You’re Laid Off and Too Young for Medicare
At best, older, laid-off workers will struggle to find health insurance that bridges the years before they qualify for Medicare at age 65.
Chiltern Railways renationalised after 30 years
It joins Great British Railways as part of government plans to save money and improve services.
China‑ASEAN economic cooperation benefits the world
Closer economic integration between China and ASEAN is unlocking greater growth potential. The ongoing upgrading of the China‑ASEAN free‑trade framework will further boost trade, bringing benefits to the world, according to Rosdiana Murtiningsih, Indonesia's alternate permanent representative to the FAO.
Family shares hidden cost of cancer care
Maya, 13, from Hythe in Kent, was diagnosed with neuroblastoma when she was three.
In China, A.I. Is Moving Forward While the Economy Lags Behind
As Xi Jinping arrives in the United States this week for a state visit, China’s advances in artificial intelligence will be in the air. Less discussed: China’s economy in its worst shape in decades.
Rivian C.E.O. RJ Scaringe Has Some Ideas for How to Make More Cars in America
RJ Scaringe thinks it will take robots, tariffs and diplomacy to maintain a manufacturing base in the United States.
Mistakes? We’ve Made a Few
For most of its life, The New York Times has tried to correct its errors. These efforts have not always been perfect.
As the Rich Buy Bigger Boats, Private Equity Is Investing in the Booming Marina Business
The private equity firm Blackstone now owns more marinas than anyone in the world.
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.