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Isracann Biosciences Inc. (ISCNF)

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Previous Close0.2080
Open0.2165
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Day's Range0.1900 - 0.2294
52 Week Range0.1800 - 0.3510
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Avg. Volume691,309
Market Cap29.945M
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  • Isracann Applauds Expanded Cannabis Accessibility
    GlobeNewswire

    Isracann Applauds Expanded Cannabis Accessibility

    Broad legalization trending as United Nations, America & Israel signal positive changeVANCOUVER, British Columbia, March 18, 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/distributor, is extremely pleased by recent reports and trend data which offers great promise for the future of cannabis both in Israel and major western markets. Recent reports indicate a growing movement towards recreational cannabis legalization in Israel as part of a growing global trend and economic force. In December 2020, the United Nations (UN) drug policy-making body the Commission on Narcotic Drugs (CND) voted to remove cannabis from the strict control measures under schedule IV of the 1961 Single Convention on Narcotic Drugs. At virtually the same time, the United States voted to remove cannabis from Schedule IV whereby the U.S. House of Representatives voted to decriminalize cannabis at the federal level by removing it from the Controlled Substances Act, pursuant to the Marijuana Opportunity Reinvestment and Expungement (MORE) Act. Subsequently the U.S. House approved the Medical Marijuana Research Act, bipartisan legislation that addresses unnecessary impediments to medical research. It remains to be seen if the MORE Act and other legislation will advance in the U.S. Senate in 2021. However, this ongoing activity sends a clear message that cannabis reform legislation is achieving increasing support in the U.S. and internationally. Economically, BDS Analytics (BDSA) recent market forecast noted global cannabis sales reached nearly $21.3 billion in 2020, an increase of 48% over 2019 sales of $14.4 billion. BDSA forecasts global cannabis sales will grow from $21.3 billion in 2020 to $55.9 billion in 2026, a compound annual growth rate (CAGR) of more than 17%. Concurrently, Israel reopened most of its economy on March 7th as part of its final phase of lifting coronavirus lockdown restrictions, some of them in place since September. Bars and restaurants, event halls, sporting events, hotels and schools that had been closed to the public for months could reopen with some local restrictions. This action is aimed at spurring economic resurgence and will serve to kickstart regional business opportunities as the country moves out of coronavirus lockdown towards post-virus normalization. Isracann COO, Matt Chatterton, notes, “We applaud the growth and depth of these historic actions that are trending positively for our industry. As we recently noted, domestic Israeli recreational cannabis legalization could literally grow our potential consumer market by a growth factor thirty times larger than the current medicinal market. We believe the political will is there, and the return to more normalized business and social activities is bound to rapidly spur renewed cannabis industry activity and growth. We anticipate 2021 as a year that could unlock the promise of a once-in-a-lifetime opportunity for value generation across the sector. We are truly delighted to see so many indicators continuing to align in such a positive and timely manner.” 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/distributor 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. ContactEmpire Communications GroupPhone: +1 (604) 343-2724Email: inquiries@isracann.comWeb: www.isracann.com

  • Isracann Signs Cannabis Importation LOI with Major Israeli Manufacturer
    GlobeNewswire

    Isracann Signs Cannabis Importation LOI with Major Israeli Manufacturer

    Canadian Export Product Aim to Help Reduce Shortages in Medical Supply ChainVANCOUVER, British Columbia, March 03, 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/distributor is pleased to announce it has entered a non-binding Letter of Intent (LOI) outlining an importation sales agreement with a major Israeli medical cannabis company. The proposed relationship is with one of the leading cannabis product manufacturers in Israel, who for commercial reasons can not be identified at this time. Imported goods will consist of premium Canadian cannabis via Isracann’s agreement with Costa Canna Group’s cultivation subsidiary, United Greeneries Ltd. The arrangement includes the provision that all imported material will be sold under the Isracann brand with subsequent products locally manufactured by the proposed partner in accordance with Israeli GMP requirements. Isracann’s Canadian import/export agreement provides exclusive access to established specialty strains including ultra high THC, high CBD, balanced, and specialty craft-grown strains which will eventually serve as alternative product offerings concurrent to the introduction of its own premium Israeli grown and branded products upon the commencement of cultivation from local Isracann-owned farm facilities. The importance of imported sales through Isracann include immediate revenue generation, introduction of new brands to the Israeli market, and the ability to trial Isracann’s processing facilities and domestic distribution arrangements. The need to identify new logistics, systems and business opportunities prior to the anticipated explosive growth potential posed by recent recreational legalization efforts and pending access to major European markets are considered critical strategic factors for the sustainable growth of the Company. The Israeli market for medical cannabis continues to grow at a rapid pace. Now with over 80,000 medical patients (IMCA data), the domestic growers are struggling to keep up with demand. Recent news regarding recreational legalization efforts position the local industry to grow to an indicated 2.5 million potential consumers. Company CEO Darryl Jones states, “The agreement in-place is straightforward and is a win-win for both parties. The inexorable growth in demand for medical cannabis products combined with the potential recreational and export market scenarios means that the serious operators are making decisions right now as to how they will manage demand stressors in future. We have been speaking with several of the larger players in the sector and todays announcement is likely to be joined with some additionally positive commercial decisions in the coming months. All of which means that we appear to be in the right place at the right time. Our team in Israel are well-connected and ensuring we are aware of the numerous opportunities and prevailing trends that allow us to act proactively. Strategically, we remain focused on securing agreements and opportunities in order to firmly position Isracann where we can best grow our value proposition and capitalize on the unfolding events in this exciting region.” ON BEHALF OF THE BOARD OF DIRECTORS “Darryl Jones” Darryl JonesChief Executive Officer and President About Costa Canna GroupEstablished in 2018 the Costa Canna Group and its subsidiary United Greeneries Ltd. is engaged in Cannabis Cultivation, Processing, Marketing, and distribution of premium cannabis products. Within its genetic library, United Greeneries holds over 120 unique strains that provide differentiation in the market and a unique consumer experience. The company is also concentrated on partnership flow through distribution to reduce CAPEX, reduce OPEX and improve profitability with a focus on West Coast Indoor, Micro and Outdoor cultivated products. The company has current distribution contracts with 7 provinces in the domestic market and is also engaged in International distribution. For more information visit: www.unitedgreeneries.ca. About Isracann Biosciences Inc. (CSE: IPOT) (XFRA: A2PT0E) (OTC: ISCNF)Isracann is an Israeli-based cannabis company focused on becoming a premier cannabis producer/distributor 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. ContactEmpire Communications GroupPhone: +1 (604) 343-2724Email: inquiries@isracann.comWeb: www.isracann.com

  • Isracann Prepares for Recreational Cannabis Opportunity in Israel
    GlobeNewswire

    Isracann Prepares for Recreational Cannabis Opportunity in Israel

    Dramatic Consumer Growth Predicted When Legalization OccursVANCOUVER, British Columbia, Feb. 25, 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/distributor is pleased to report on the prevalence of media reports and public optimism regarding the future of recreational Cannabis building momentum across Israel. As the world turned the page on 2020, reports of recommendations from an interministerial team led by Justice Minister Avi Nissenkorn offered recommendations for the legalization of cannabis for recreational use within nine months while balancing “liberalism and responsibility.” “It’s time to make progress and legalize cannabis in Israel,” Nissenkorn said. “This is a significant, holistic and responsible reform, which shows the State of Israel isn’t ignoring reality and is going in the footsteps of developed countries.” Deputy Attorney General Amir Merari said the government’s opinion is to favor legalization over decriminalization, which is more common in other countries, since “decriminalization doesn’t provide a solution for problems such as the black market.” In a country that continually punches above its weight, Israel already boasts some compelling world records such as the highest amount of Venture Capital per capita (IVC-Online), highest number of start-ups per capita (IVC-Online), highest percentage of GDP in R&D investments (4.2%) (Economic Times), #3 in NASDAQ listed companies (after USA & China) (Deloitte), 2nd most innovative nation (World Economic Forum), and the highest number of patents per capita( Bloomberg), so its little wonder that as far back as 2017 surveys showed it also held the record for the world’s highest ratio of marijuana users with 27% of the population aged 18-65 identifying as recreational users (US News, Times of Israel). With a population of approximately 9 million persons, legalization would immediately and dramatically increase the domestic retail market to almost 2.5 million potential customers. Current domestic shortages for the estimated 80,000 medical users have already created pent-up demand and an extraordinary prospect for Isracann. With excellent ties to Canada, the Company has positioned itself through agreements in-place to import bulk materials, and upon legalization to deliver finished products into Israel just as demand is poised to explode. This provides Isracann the opportunity to offer a near term capacity to service the anticipated growth in consumer demand while ramping domestic production as its Hefer Valley operation as the year progresses. Currently, Isracann has completed construction of its 55,0000 sq. ft. phase one farm facility and is in the process of finalizing police and health ministry permits prior to the commencement of planting. Isracann is committed to servicing the needs of the Israeli medical market and the production output of the phase one facility remains dedicated to this commitment. To service the recreational market, Isracann’s 110,000 sq. ft. phase two facility construction is well underway with the ability to rapidly complete the build-out and commence operations solely subject to demand, Phase two requires minimal capital outlay to complete, and the post harvest facility at the Ein Hahoresh farm has already been completed with a capacity to process the combined total output from the overall 165,000 sq. ft. farm operation. In addition, landholding options offer 2,000,000 sq. ft. of adjoining property which provides scalability to meet virtually any increase in future market demand. “We’re juggling a growing number of exciting activities alongside a wealth of strategic opportunities increasingly in play, and the year is barely halfway through the first quarter,” notes Isracann COO, Matt Chatterton. “With an ability to import everything from premium cannabis genetics to bulk biomass and eventually as liberalization continues, even finished goods, we are ready to begin processing inbound logistics almost immediately. Once the supply chain is flowing, we have sales agreements that will kick into gear and we commence revenue generation. We have a straightforward police inspection of the farm to complete and then seedlings go in the ground. We are on-track for predicable timelines to harvest and a dramatic increase in overall supply which should quickly meet our domestic needs and allow us to turn towards the high value export markets of Europe. We have lots of choices to leverage our value chain and in many ways, we are blessed with an abundance of opportunity.” 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/distributor 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. ContactEmpire Communications GroupPhone: +1 (604) 343-2724Email: inquiries@isracann.comWeb: www.isracann.com