I think the beast of b.s. is awakening.. what's left is the final inspection permit.
Isracann Receives Foreign Owners License and Updates Israeli Cannabis Operations
globenewswire.com
VANCOUVER, British Columbia, April 21, 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 it has been granted a Foreign Owners Cannabis License by the Israeli Minister of Health. This important event paves the way to conclude a number of outstanding key partnership and regulatory considerations in preparation for commercial operations.
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The highly sought-after foreign owners license significantly legitimizes the Company’s presence in Israel. There are only a small number of foreign owned sector participants who have obtained similar licencing, and Isracann is now favourably positioned to leverage certain advantages. Ownership licensing allows for greater access to domestic partnerships, increased participation in state-sponsored initiatives, and enhances access to financing. It also simplifies the Company’s ability to undertake domestic acquisitions, including the conclusion of its planned purchase of a third-party participant in the JV which would result in Isracann increasing its ownership position to 50%.
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Isracann CEO, Darryl Jones states, “We continue to push ahead on multiple fronts. From product importation to new genetics programs on the one hand, today we also celebrate our official approval as foreign owners in this exciting sector. Now we can truly dig in to finalize matters and accelerate our efforts to fully enter the commercial marketplace. We’ve been in communication with all the relevant parties and now with the licensing in-place, a number of initiatives will be triggered almost immediately and should result in an accelerated pace towards revenue generation. We have to admit that we always thought the pandemic would create a delay, and it could have been worse. In the meantime, we have by no means been standing still and have used the opportunity to invest in added value and develop our relations throughout the region.
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