Citrine Global, Corp. (OTCQB: CTGL) announces that the loan provided to Intelicanna Ltd. (TASE: INTL) in July 2020 under the loan agreement entered between the parties, has been repaid.
Citrine Global (OTCQB: CTGL) announced the full repayment of a NIS 500 thousand loan extended to Intelicanna, including a 12% annual interest. This repayment, completed on March 31, 2021, reflects Citrine's confidence in Intelicanna, a publicly traded Israeli medical cannabis company, as it holds 619,589 shares in Intelicanna. Citrine Global is focused on health, wellness, foodtech, botanicals, and medical cannabis industries, operating through its subsidiary in Israel and planning to establish Operational Innovation Centers.
- Full repayment of NIS 500 thousand loan from Intelicanna, enhancing financial standing.
- Citrine holds 619,589 shares in Intelicanna, indicating strong partnership and confidence in its strategic direction.
- None.
Tel-Aviv, April 05, 2021 (GLOBE NEWSWIRE) -- Citrine Global, Corp. (OTCQB: CTGL) (“Citrine Global”) is pleased to update that on March 31, 2021 the loan of NIS 500 thousand extended to Intelicanna by Citrine Global has been repaid in full, including the
Intelicanna Ltd. (TASE: INTL) is a publicly-traded Israeli medical cannabis company listed on the Tel-Aviv Stock Exchange (“Intelicanna”) with which Citrine Global has entered into several strategic agreements, which by one of them Citrine Global is holding 619,589 of Intelicanna’s ordinary shares demonstrating Citrine Global's confidence in Intelicanna and in its ability to execute its strategy and business plan while strengthening its leadership in medical cannabis industry.
About Citrine Global
Citrine Global business activity is comprised of developing Israeli technologies and solutions and bringing them to global markets.
Citrine Global believes in the health, wellness, foodtech, botanicals, and medical cannabis industries that demonstrate high growth potential and is focused on these markets.
Citrine Global headquarters and top executives are based in Israel, where Citrine Global operates via its
Citrine Global developed a unique platform of Operational Innovation Centers that create eco-systems for the health, wellness, botanicals, and medical cannabis industries.
The first Operational Innovation center is Cannovation Center Israel, which focuses on Israeli health, wellness, botanicals, and medical cannabis technologies and is backed by Israeli government grants and benefits.
Cannovation Center Israel will include laboratories for botanicals & cannabis research, plant genetics, pharmacological research, product development and facilities for preclinical & clinical trials, certified factories for cannabis, health and wellness products, storage, packaging, distribution, and consultancy services for strategy and business development.
Citrine Global has an experienced team and a network of partners that include leading experts with proven track record in technology, high-tech, biotech, investment, entrepreneurship, real-estate, finance, and strategic business development in Israel and around the world.
Citrine Global plans to operate worldwide through subsidiaries, local teams, partners, and industry experts in each area
Citrine Global’s vision is to become a global leader in developing innovative technologies and solutions that improves the health and quality of life of people worldwide.
Website: http://www.citrine-global.com
For inquiries and further information, please contact: info@citrine-global.com
Safe Harbor Statement
This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. For example, Citrine Global is using forward-looking statements when it discusses that it intends to keep supporting Intelicanna’s expansion plans and support its business strategy, its belief that the health, wellness, food tech, botanicals, and medical cannabis industries that demonstrate high growth potential and is therefore primarily focused on these industries, its plan to operate worldwide through subsidiaries, local teams, partners, and industry experts in each area, the potential establishment of its first Operational Innovation Center, which will include laboratories for botanicals & cannabis research, plant genetics, pharmacological research, product development and facilities for preclinical & clinical trials, certified factories for cannabis, health and wellness products, storage, packaging, distribution, and consultancy services for strategy and business development, and the company’s vision to become a global leader in developing innovative technologies and solutions that improves the health and quality of life of as many people as possible worldwide. These forward-looking statements and their implications are based on the current expectations of the management of Citrine Global only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this communication include, but are not limited to: trends in target markets; effects of competition in the Company’s main markets; ability to establish and maintain strategic relationships in its major businesses; profitability of the growth strategy; and changes in global, political, economic, business, competitive, market and regulatory forces. Except as otherwise required by law, Citrine Global undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting Citrine Global, reference is made to Citrine Global’s reports filed from time to time with the Securities and Exchange Commission.
Attachment
FAQ
What is the recent update from Citrine Global regarding its loan to Intelicanna?
How many shares does Citrine Global hold in Intelicanna?
What industries does Citrine Global focus on?
Where are Citrine Global's headquarters located?
What is the purpose of Citrine Global's Operational Innovation Centers?
