VANCOUVER, British Columbia, June 11, 2020 (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 is pleased to advise upon and firmly support recent news reports signaling a move towards increased legalization of cannabis use for both medical and recreational users.
Last week, the Israeli Police Minister backed the easing of enforcement of existing laws, which was followed by a joint statement by the Prime Minister and Defense Minister outlining their intent to advance legislation “to resolve the issue of decriminalization and legalization” ostensibly referring to recreational cannabis use.
The statement further noted a determination to advance medical cannabis reforms in order to make it easier for patients to gain access to treatments and for growers to receive permits.
The report indicated agreement on an outline for reform that includes; cannabis to be permitted only for those over the age of 21, excludes those in security-related occupations; prohibits driving under the influence of cannabis and went on to note sales will only be permitted through authorized outlets, and there will be restrictions on cannabis advertising. Many government and public figures are echoing support for responsible national reform initiatives.
"We are incredibly pleased by the recent news and are highly supportive of the initial proposals moving towards medical and recreational reform," said Darryl Jones, Chief Executive Officer of Isracann. “We look forward to building on this legislative framework as we continue to execute our strategic plans in the region.”
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. 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.
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