ISRACANN BIOSCIENCES INC - ISCNF STOCK NEWS

Isracann Biosciences Inc. (OTC: ISCNF) has announced a binding Letter of Intent (LOI) to acquire Praesidio Health Inc. Praesidio is a Canadian medical research company focused on natural health medicine. Isracann aims to leverage this acquisition to enhance its cannabis operations in Israel and expand into European markets. The acquisition, valued at CAD 4 million, is seen as a strategic move to create synergy and unlock value within the health sector. Additionally, Isracann has engaged Promethean Marketing for digital marketing services, costing USD 65,000 for a one-month contract.

Isracann Biosciences (OTC: ISCNF) announced recent activities and an outlook for Q1 2022 amid ongoing impacts from the COVID-19 pandemic. CEO Phil Floucault, appointed in October, is focused on transitioning operations at the Ein Hahoresh facility while preparing for commercialization. He highlights the opportunity to refine strategies and maximize operations despite pandemic challenges. Isracann aims to become a leading cannabis producer in Europe, with secured agreements for medicinal marijuana cultivation. The company emphasizes commitment to generating revenue and shareholder value in 2022.

Isracann Biosciences Inc. has appointed Mr. Phil Floucault as CEO, effective immediately, transitioning from its development stage to an operational enterprise. Floucault, formerly of Costa Canna Group, brings extensive industry experience in cannabis production, processing, and distribution. His proactive leadership aims to capitalize on domestic and European growth opportunities. Outgoing CEO Darryl Jones will remain on the board. The company also announced the issuance of stock options for directors and officers to boost motivation and align interests.

Isracann Biosciences Inc. has appointed Mr. Peleg Agayuf as the Manager of Farm Operations at its Ein Hahoresh Farm. Agayuf brings extensive experience in medical cannabis production and agricultural planning. Recent updates indicate that the initial 54,000 sq. ft. greenhouse at Ein Hahoresh is complete, with final inspections expected soon. Despite delays attributed to COVID-19, commercial production is on track. Isracann is also navigating recent regulatory changes for cannabis imports from Canada, which may impact its operations in the Israeli medical market.

Isracann Biosciences has secured a Foreign Owners Cannabis License from the Israeli Ministry of Health, enhancing its capacity for market entry and partnership opportunities. This license removes ownership barriers, facilitating Isracann's participation in state-sponsored initiatives and access to financing, while also allowing for an increase in ownership in a joint venture to 50%. The company has completed construction at its Hefer Valley farm and is awaiting inspection to commence planting. Isracann is also finalizing agreements for Canadian product importation and acquiring high-grade genetics.

Isracann Biosciences Inc. (OTC: ISCNF) is optimistic about the future of cannabis legalization in Israel and globally, following supportive actions from the United Nations and the U.S. Congress. Recent reports indicate a growing trend toward legalizing recreational cannabis, which could significantly expand the market. Economic forecasts predict worldwide cannabis sales may rise from $21.3 billion in 2020 to $55.9 billion by 2026, a CAGR of over 17%. The reopening of Israel's economy is set to spur renewed activity in the sector.

Isracann Biosciences Inc. (OTC: ISCNF) has signed a non-binding Letter of Intent (LOI) for an importation sales agreement with a leading Israeli medical cannabis company. This agreement will enable Isracann to import premium Canadian cannabis from Costa Canna Group’s subsidiary, United Greeneries Ltd. The partnership aims for immediate revenue generation and offers exclusive access to specialty cannabis strains. With over 80,000 medical patients in Israel, demand is skyrocketing, as the market anticipates the possibility of 2.5 million potential consumers amid recreational legalization efforts.

Isracann Biosciences Inc. (OTC: ISCNF) reports strong media optimism regarding the legalization of recreational cannabis in Israel, driven by government recommendations for legalization within nine months. With a population of approximately 9 million, Israel could see nearly 2.5 million new consumers, enhancing demand for cannabis products. Isracann's operational readiness, including a completed 55,000 sq. ft. facility and an ongoing 110,000 sq. ft. expansion, positions the company to capitalize on this potential growth. Strong ties with Canada also facilitate import of materials to meet demand.

Isracann Biosciences is preparing its Ein Hahoresh Farm in Hefer Valley for inspections aimed at commencing cannabis production. The 54,000 sq. ft. greenhouse is fully constructed, with expanded processing capabilities to meet market demand. Planting is scheduled for early March, pending final government approvals. COO Matt Chatterton praised the collaboration with Israeli government representatives. The company targets both domestic and European markets, leveraging Israel's expertise in cannabis research.