Isracann Biosciences Acquires Natural Health Medicine Developer And Appoints Natural Health Products Officers
Isracann Biosciences Acquires Natural Health Medicine Developer And Appoints Natural Health Products Officers
04/13/22, 12:31 PM
Location
vancouverIndustry
information technology
agriculture and farming
food and beverage
health care
community and lifestyle
Isracann Biosciences Inc. (CSE: IPOT) (XFRA: A2PT0E) (OTC: ISCNF) (the “Company”) is pleased to announce that, further to the Company’s news releases dated February 23, 2022 and March 28, 2022, it has closed its acquisition of Praesidio Health Inc. (“Praesidio”). Pursuant to the definitive agreement dated March 24, 2022 with Praesidio and the shareholders of Praesidio (the “Praesidio Shareholders”), the Company acquired all of the issued and outstanding shares in the capital of Praesidio (the “Praesidio Shares”) for aggregate consideration of C$4,000,000 in common shares (the “Consideration Shares”) in the capital of the Company (the “Transaction”). Praesidio will operate as a wholly-owned subsidiary of the Company.
Company Info
Location
1600 - 595 burrard street
Vancouver, Washington, United States
Company info
Isracann, Israel’s first pure-play cannabis firm, is focused on becoming a premier, low-cost cannabis producer. Isracann has a joint venture agreement in place with a built 55,000 sqft farm, which is expandable to 160,000 sq ft in the near term and has access to over 2,000,000 sq ft of private land.
The company is targeting undersupplied domestic demand combined with an immense international market opportunity through Israel’s new medical cannabis export framework for 2020.