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Isracann Biosciences Inc. (ISCNF)

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Previous Close0.2692
Open0.3000
BidN/A x N/A
AskN/A x N/A
Day's Range0.2550 - 0.3028
52 Week Range0.1800 - 0.3510
Volume1,061,118
Avg. Volume656,280
Market Cap37.786M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    Isracann Well Positioned for Israel’s Cannabis Sector Growth in 2021

    Activities in 2020 laid groundwork towards accelerated resultsVANCOUVER, British Columbia, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Isracann Biosciences Inc. (CSE: IPOT) (XFRA: A2PT0E) (OTC: ISCNF) (the “Company” or “Isracann”) an Israel-based company focused on becoming a premier low cost, high quality cannabis producer is pleased to provide a year end summary of activities and outlook for 2021. There is a sense of relief that 2020 is now behind us. Over the course of the past year, the impact of COVID-19 has been felt around the globe and will undoubtedly continue to impact countless lives and entire economies for years to come. While many difficulties remain before us all, a guarded optimism is growing daily. The challenges that directly impacted our venture were principally logistical and operational in nature and affected most of the sector equally. Given the Israeli governments increasingly pragmatic outlook regarding cannabis we remain extremely optimistic regarding our ability to achieve our strategic goals for the new year. In consideration of the disruptive nature of the pandemic, Isracann is nonetheless extremely pleased to have made continued progress at both its domestic operations. At our early-stage Nir, Israel farm, the Company was required to realign elements of its submission to the Settlement Commissioner for the Nir region, which was expedited via the invaluable aid of our regional consultants. This process has paved the way for a formal application to the Ministry of Health. In all other respects the project is poised for fast-tracked completion with commencement of operations to occur as soon as approval is received. The agreement and commitment to accelerate the completion of the flagship Hefer Valley-based Ein Hahoresh Farm has proven to be a key driver for the Company. With 165,000 sq. ft. of greenhouse canopy and extensive processing capability in-place, the Company and its regional partners are moving rapidly towards industrial-scale operations capable of servicing both the domestic and increasingly important European export markets in 2021. Per recently amended regulations that require all physical facilities to be completed and approved prior to planting, the construction activities at the Ein Hahoresh farm expanded the onsite post-harvest facility in preparation for commencement of operations and increased demand from growing domestic and export markets. We are well poised to, in the short term, complete the facility and receive the required Security and Ministry of Health approvals to acquire our farm operating license and start planting. Consequently, Isracann and its local consultants are currently scheduling the commencement of planting in March to coincide with the start of optimal climatic conditions. Additionally, applications for certification of Isracann as foreign cannabis cultivation license owners were submitted to the Ministries of Security and Health, which upon acceptance, will result in Isracann’s ability to formally complete any remaining aspects of our joint venture acquisition. While completion of our farms is the primary focus of the company, we have been actively initiating and expanding our visibility and relationships across the region and onwards into Europe. Our goal has been to establish infrastructural agreements aimed at launching Isracann onto the world stage as a truly international cannabis enterprise. As these pending activities are commercial in nature, and include multiple parties, we look forward to announcing further details outlining our expanded strategic outlook for the coming year as soon as possible. Concurrently, the domestic legislative, regulatory, and societal environment regarding cannabis production, processing, distribution, and sales within Israel continues to improve as do the opportunities for export operations. Last year saw several landmark rulings and accelerated momentum that is rapidly transforming this emerging sector into a respected national industry. It is also worth mentioning that Israel has been noted as an early leader in the distribution of coronavirus vaccinations, and this appears to be driving optimism for the entire business community throughout the region. Isracann and its team of professional consultants are confident this will aid initial sales projections upon entry into a domestic marketplace which is markedly more robust than ever before. Company CEO Darryl Jones comments, “Since our decision to enter the market sector in Israel just 20 short months ago, we have seen cannabis reform, including major advances in legalization, production and distribution. We’ve also seen the door opening up for export sales, and a wholesale shift in cultural acceptance. And yet we have had to deal with some setbacks as the regional governments come to terms with new regulations and the impact of a global pandemic. But one thing to remember is that this is just the playing field, and it is the same field for everyone in the sector. As players, we have engaged top industry professionals to consult on our behalf, incorporated leading agronomic experts to show us the true path to product excellence, and ensured our leadership includes a strong mix of business and production expertise. We have a team with big league knowhow and home field advantage, and this all translates into ability and confidence. We are well positioned and well financed and are committed to ensuring that 2021 is the year Isracann gets fully into the game and starts to deliver the returns we know its capable of. With that vision firmly in-place, we thank all our supporters for your continued trust as we forge ahead to make this year an outstanding opportunity for value creation through the intelligent application of capital into predictably growth-focused areas of the global cannabis industry.” ON BEHALF OF THE BOARD OF DIRECTORS “Darryl Jones” Darryl JonesChief 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. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. There can be no assurance that such statements, including the impacts of the COVID-19 pandemic and supply and demand trends in the cannabis industry, 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. Contact: Empire Communications GroupPhone: +1 (604) 343-2724Email: inquiries@isracann.comWeb: www.isracann.com

  • Isracann Announces Launch of Early Warrant Exercise Incentive Program and Repricing
    GlobeNewswire

    Isracann Announces Launch of Early Warrant Exercise Incentive Program and Repricing

    VANCOUVER, British Columbia, Jan. 11, 2021 (GLOBE NEWSWIRE) -- Isracann Biosciences Inc. (CSE: IPOT) (XFRA: A2PT0E) (OTC: ISCNF) (the “Company” or “Isracann”) an Israel-based company focused on becoming a premier low cost, high quality cannabis producer announces it has implemented a warrant exercise incentive program designed to encourage exercise of up to 20,574,216 of its outstanding share purchase warrants expiring on September 30, 2021 (the “Warrants”). The Company will amend the exercise price of the Warrants from $1.02 per common share of the Company (each, a “Share”) to $0.30 per Share, subject to acceleration. If, for any ten consecutive trading days during the unexpired term of the Warrants the closing price of the Shares on the Canadian Securities Exchange exceeds $0.375, then, upon the Company sending to the holders of the Warrants (the “Warrantholders”) notice of acceleration of the expiry date by way of a news release announcing such accelerated expiry date, the Warrants will only be exercisable for a period of 30 days following the date of such news release. Under the incentive program, the Company is offering an inducement to each Warrantholder who exercises their Warrants prior to March 31, 2021. All Warrants exercised prior to March 31, 2021 will receive one additional share purchase warrant (each, an “Incentive Warrant”) for each Warrant exercised. Each Incentive Warrant will entitle the holder to purchase one additional Share at $0.50 per Share for 24 months from the date of issuance. Any Shares issued upon exercise of the Incentive Warrants will be subject to a four-month hold period from the date of issuance of the Incentive Warrants.In related news, the Company wishes to advise it has engaged the services of Empire Communications Group to manage Isracann’s investor relations services.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.ON BEHALF OF THE BOARD OF DIRECTORS “Darryl Jones” Darryl Jones Chief Executive Officer and PresidentContact Empire Communications Group Phone: +1 (604) 343-2724 Email: inquiries@isracann.com Web: www.isracann.comThe CSE does not accept responsibility for the adequacy or accuracy of this release.

  • GlobeNewswire

    Isracann Welcomes International Cannabis Exports in Israel

    \--Legal Exports Poised to Drive Domestic Industry GrowthVANCOUVER, British Columbia, Oct. 14, 2020 (GLOBE NEWSWIRE) -- Isracann Biosciences Inc. (CSE: IPOT) (XFRA: A2PT0E) (OTC: ISCNF) (the “Company” or “Isracann”) an Israel-based company focused on becoming a premier low cost, high quality cannabis producer is pleased to announce that the government of Israel has officially enacted the legislation for the export of medical cannabis, clearing the way for sales abroad that the government expects could generate more than 1 billion shekels ($273 million) in annual revenue.Economy Minister Eli Cohen gave final approval for the exports more than a year after the cabinet initially supported the legislation. Within Israel, medical use of cannabis is permitted with recreational use largely decriminalised. The ministry reports about 70,000 Israelis currently use medical cannabis consuming an estimated 25 tonnes per year. If this growth trend continues, Israel could see a market of over 200,000 medical patients consuming 85 tonnes per year within the next two years.As reported by Reuters, Hagit Weinstock, co-founder of the Weinstock-Zehavi & Co. law firm and a pioneer of cannabis regulation in Israel stated, “There are many investments that we are expected to see happening now, because investors were waiting for this approval.”According to recent reports, the Israeli Ministry of Health has launched a new pilot program whereby medical cannabis producers will be approved to export medical cannabis, subject to concurrent product availability to Israeli patients at a fixed discount price of NIS14 per gram (CAD$5.50 per gram) for patients over 21 years old, and NIS10 (CAD$4.00 per gram) for those patients under 21 years old.Previous reports have outlined how Israel has struggled with cannabis product shortages, as well as complaints about price and quality, which led to the country becoming one of the world’s largest importers of medical cannabis. The pilot program is planned for an initial three-month period during which the specific medical cannabis products to be provided in Israel and made available for export are at the individual producer’s discretion.Company COO Matt Chatterton notes, “Todays news is a win-win for both the medical patients in Israel and the domestic producers. Export licensing will be a huge economic driver for the licensed producers and an incentive for investment that should spur rapid growth across the industry. The government’s plan to ensure subsidies for the domestic market will see supply finally catch up to demand along with stabilization of the supply chain through improved product processing and quality assurance that is required for entry into export markets. Its been an extensive process to get to where we are today, but with todays announcement we find ourselves in great shape as we continue to build our company and shareholder value in Israel.”ON BEHALF OF THE BOARD OF DIRECTORS“Darryl Jones”Darryl Jones Chief Executive Officer and PresidentAbout 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. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. There can be no assurance that such statements, including the impacts of the COVID-19 pandemic and supply and demand trends in the cannabis industry, 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.Contact Investor Relations Toll Free: +1 855.205.0226 Email: inquiries@isracann.com Web: www.isracann.com