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Isracann Biosciences signs final agreement to acquire Canadian Business Journal’s Natural Health Medicine developer

Vancouver, British Columbia, March 28, 2022 (GLOBE NEWSWIRE) — Isracann Biosciences Inc. (CSE: IPOT) (XFRA: A2PT0E) (OTC: ISCNF) (“societyIn addition to our news release dated February 23, 2022, we are pleased to announce that we have signed a formal agreement (“).agreement”) Praesidio Health Inc, dated March 24, 2022. (“”Presidio“). In accordance with this Agreement, we will acquire all of the outstanding shares of the Capital of Presidio.Presidio stock“) Consideration for a total of C $ 4,000,000 in common stock (“Consideration share“)Company’s(“transaction“). At the end of the transaction (“”close”), Praesidio operates as a wholly owned subsidiary of the Company.

Praesidio Health (https://www.praesidiohealth.com/) is an industry-leading Canadian medical research company that develops and validates natural health medicine (“”NHM”) Use an evidence-based process. NHM and treatment pioneer Praesidio Health are actively developing several product candidates that are useful in a variety of conditions, including post-exposure prophylaxis, urology, anxiety / stress, immune boosters, and sleep aids. I am. The company employs a combination of formulations with or without cannabinoids and / or psilocybin, opening up product development opportunities in conjunction with future operations in Israel, including direct access to the European market.

The consideration shares will be issued in seven tranches, with a consideration of $ 1,000,000 at the time of closing and then every six months until the third anniversary of the closing date of $ 500,000. The price of the consideration stock is equal to the volume-weighted average (measured at 1/100 cent) of the actual trading price of the common stock of our capital on the Canadian Stock Exchange (“CSE”) 10 consecutive business days before the applicable issue date. Considered shares are subject to a 48-month contract escrow period beginning on the closing date.

Transactions are subject to certain termination conditions, including, but not limited to, approval of all required companies and regulatory agencies and receipt of other customary termination conditions. There is no guarantee that the transaction will not complete as suggested or at all. The transaction is expected to close around April 4th.th2022.

Our securities mentioned in this news release have not been and will not be registered under the Securities Act of 1933.US Securities Act“), Or state securities law. Therefore, our securities are not registered under US securities law and applicable state securities law, or unless exempt from the registration requirements of US securities law and applicable state securities law, in the United States. It cannot be offered or sold. This news release does not constitute an offer to sell or buy our securities in jurisdictions where such offer, solicitation, or sale is illegal.

About Isracann Biosciences Inc.

Isracann is an Israeli-based cannabis company focused on becoming the premier cannabis producer offering low cost production targeting major undersupplied European markets. Based in the agricultural sector of Israel, Isracann leverages the world’s most experienced domestic development in cannabis research. We have a contract to grow medical marijuana in Israel. For more information, please visit www.isracann.com.

On behalf of the board

“Phil Floucault”

Phil Floucault
Chief Executive Officer and President

CSE is not responsible for the validity or accuracy of this release.

Information about future prospects

This release may contain forward-looking statements. Forward-looking statements are not historical facts and are not always, but generally “expect”, “plan”, “expect”, “believe”, “intention”, “estimate”, A description identified by the word “project”. , “May” and similar expressions, or the event or condition “occurs”, “occurs”, “possibly”, “possibly”, or “must occur” .. Forward-looking statements may include, but are not limited to, statements relating to the Transaction and sharing of consideration. The forward-looking statements contained in this press release are fully explicitly modified by this notice. All forward-looking statements in this press release have been prepared as of the date of this press release. Forward-looking statements contained herein are generally CSE, British Columbia Securities Commission, Alberta Securities Commission, and Ontario Securities Commission. Isracann believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, but such statements do not guarantee future performance and the actual results are It may differ significantly from the forward-looking statements. Isracann expressly disclaims any intention or obligation to update or revise any forward-looking statement as new information, future events, or otherwise.

contact address
Empire Communications Group
+1 (604) 343-2724
info@isracann.com
www.isracann.com


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Isracann Biosciences signs final agreement to acquire Canadian Business Journal’s Natural Health Medicine developer

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