Isracann Receives Project Characterization Report and Engages EU GMP Consultancy

VANCOUVER, British Columbia, Jan. 09, 2020 (GLOBE NEWSWIRE) — Isracann Biosciences Inc.  (CSE: IPOT) (XFRA: A2PT0E) (OTC: ISCNF) (the “Company”) an Israel-based company focused on becoming a premier low cost, high quality cannabis producer for both domestic and European export sales, is pleased to advise it has received the results of its previously commissioned comprehensive project characterization report detailing proposed activities for the development of a licensed cannabis agricultural and processing operation located in Nir, Israel.

The report technically examines and addresses all operational activities of the proposed farm and provides clear guidelines to ensure compliance regarding medical Cannabis cultivation and post harvest processing. The report provides clarity regarding international regulatory practices for both Israel and EU requirements encompassing raw material production, processing, packaging and security for all links in the chain, plus distribution of final product.

The authors of the report, LinC by Growing Smart Ltd., provide detailed options regarding the best practice methods to optimize THC vs CBD production ratios, cost-effective acquisition and development of key genetics, as well as optimal techniques for plant protection from insects and disease. The report further details extensive infrastructural, watershed, topographical and climatic conditions with specific actions regarding property layout, construction, irrigation, propagation, cultivation and post harvest actions designed to leverage the region’s unique environment in order to achieve cost-effective high yield and high-quality results.

Company CEO Darryl Jones comments, “Our partners at LinC have delivered an outstanding report that provides us with a clear path towards achieving our strategic goals. It presents an effective roadmap to expedite the development of the property into an efficient production facility. All the various aspects of the project are coming together on schedule and we remain confident for the future success of our operations in Israel.”

In related news, the Company is pleased to announce it has engaged the services of Quality & Compliance Services Inc. (“QCS”) of Canada. The company provides consulting oversight and related services to ensure GMP regulatory compliance as regards health & safety, production, manufacturing, supply side activities and product development related to the pharmaceutical, natural health product, cannabis, dietary supplement and medical device industries. Isracann will work with QCS to specifically conduct a facility design review to ensure alignment between Israel’s IMC-GDP (and related regulations) and post-harvest EU-GMP compliance for direct importation. For more information please visit: www.qualityandcompliance.com.

“We determined to onboard QCS to ensure we have a clear focus on global issues that could impact future growth,” notes Isracann’s VP of Operations, Matt Chatterton. “QCS annually completes over 300 projects, hosts numerous audits and regularly interacts with pertinent international regulatory agencies and will provide us with an excellent means to shorten our timelines and ensure compliance especially regarding the various export and import regulations. We have a clear focus on maintaining cost efficiencies as we grow our business operations and are grateful to have expert guidance as we move ahead with assurance in this complex area.”

ON BEHALF OF THE BOARD OF DIRECTORS

“Darryl Jones”

Darryl Jones
Chief 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. There can be no assurance that such statements 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: [email protected]
Web:  www.isracann.com

Source: GlobeNewswire (January 9, 2020 – 12:05 AM EST)

News by QuoteMedia