Isracann Appoints Experienced Farm Manager and Updates Israeli Cannabis Operations

VANCOUVER, British Columbia, Aug. 31, 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 the appointment of Mr. Peleg Agayuf as overall Manager of Farm Operations at its Ein Hahoresh Farm and further provides a corporate review and update of its activities in Israel.

Mr. Agayuf brings extensive regional knowledge as owner and partner of Canaris Ltd., and in the provision of technologies, expertise and various inputs regarding agricultural planning and execution with specific experience in the field of medical cannabis production. His areas of expertise encompass design of growing processes adapted to specific needs including irrigation, control systems, installation of accessories (ventilation, illumination, shade, irrigation systems, etc.). He has advanced experience in water management and fertilizer systems. He provides mission-specific solutions, system adaptations and implementation of a wide range of growing methods. His role at the Hefer valley property will oversee all operational aspects of production from seed to shipping as Isracann advances towards commercial production.

As part of ongoing efforts, Isracann has continued to work closely with all Israeli consultants and counterparts, and recent activities at the Ein Hahoresh Farm include the following:

  1. The facility as proposed has been completed. This includes the initial 54,000 sq. ft. greenhouse and expanded post harvest facility (to be able to service the total 165,000 sq. ft. of proposed commercial greenhouse facilities) which are now fully constructed, with all related services and infrastructure installed. To review recent images from the farm, please visit our website project page media gallery.
  2. The requisite Ministry of Security and Ministry of Health inspections have been delayed due to resource impacts from COVID-19. Preliminary inspections were completed some time ago and Isracann has been advised that the requisite final inspections are anticipated within weeks. Once the inspections are concluded and approvals received, planting is allowed to commence immediately.
  3. The hiring of Mr. Peleg Agayuf as a dedicated Farm Manager brings timely oversight to start-up activities as well as Israeli cannabis growing and production experience during and after the transition to operations.
  4. Regarding importation of products from Canada destined for Israel’s medical marketplace, recent stringent Israeli regulatory rule changes impacted all cannabis importers negatively, and Isracann and its local partners have utilized the time to carefully finalize a supply chain pathway to deliver high quality, high potency Canadian grown cannabis to the underserved Israeli medical marketplace. Applications are underway to secure importation rights and Company consultants believe the improved process will prove advantageous to both the company and domestic distributors alike.

In related news, the Company’s Nir, Yisreal farm has received feedback from the land use application to the Settlement Commissioner. Land use in this region is complex due to regional issues specific to public lands. Company consultants are currently updating plans to align and comply with Settlement Commission requests and this process is anticipated to conclude subject to the acceptance of the proposed changes.

Isracann COO Matt Chatterton notes, “Impact from COVID-19 has definitely been felt, but we are not alone in this regard. I think every industry worldwide has been affected in some manner. The good news is that our construction team at Ein Hahoresh continued their efforts and concluded their work at the farm. With their help, we are in great shape to conclude the process with the relevant government ministries and as part of our transition to commercialization we have utilized our time by increasing our processing capacity in order that we might more rapidly catch up and possibly surpass our original production expectations. Altogether it’s been an extraordinary experience to-date and extremely gratifying to have partners willing to do whatever it takes to ensure we all meet our common goal of rapidly building value in our exciting venture.”

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/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.

Contact
Empire Communications Group
Phone: +1 (604) 343-2724
Email: [email protected]
Web: www.isracann.com


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