(MENAFN- GlobeNewsWire - Nasdaq) VANCOUVER, British Columbia, Nov.21, 2019(GLOBE NEWSWIRE) -- Isracann Biosciences Inc. (CSE: IPOT) (XFRA: A2PT0E) (OTC: ATLED) (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 that it has submitted architectural, agronomic and security plans to the Israeli Land Authority (Raeshoot Mekarka'ei Yisrael) the governing body overseeing the utilization of national land reserves.
The submission includes detailed architectural plans encompassing the land, facility layout and use, agronomic activities, environmental impact and nearly ninety percent (90%) of a proposed security plan which only requires final land use approval in order to complete.
Company CEO Darryl Jones notes, 'Working with our various professional consultants has expedited our submission and we are advised it is fully compliant with the regulatory framework. We are delighted by the effort to-date by our local advisors as they have worked diligently to assemble and deliver the documentation even faster than we had anticipated. It's an excellent opportunity to thank the architectural team at AgroPlan Ltd., the security professionals at A.R. Factor Group, and the agronomists from LinC by Growing Smart Ltd. for their attention to detail and overall help in expediting our submission. We anticipate a forthcoming and timely announcement which will lead to the permitting and approvals to break ground at our proposed 230,000 sq. ft purpose-built facility in Israel.'
In related news, the Company is pleased to welcome Mr. Matt Chatterton as Vice President of Operations. Mr. Chatterton brings over 15 years of experience in the design, development and execution across a variety of projects and manufacturing operations. His expertise includes project management, facility management, logistics, supply side processes and procedures at a number of international manufacturing operations in Canada, China, Bulgaria, the Philippines and now in Israel. His role at Isracann includes facility oversight of the design, build out, and operational implementation, commencing with the inaugural cultivation farm and will eventually encompass manufacturing, formulation, and distribution management. Mr. Chatterton is a Professional Engineer and graduate of Canada's Queens University with a master's degree in Chemical Process Engineering (2004).
'We welcome Matt at this critical juncture of growth and look forward to working together with him as we build this exciting enterprise,' states CEO Jones. 'Our team is growing fast and Matt brings depth of operational experience and insight which will benefit us greatly. Today's news regarding our government land use submission and hiring Matt are both essential elements of our strategic plan for success aimed at building a sustainable business delivering value to our partners and shareholders. We are 100% on schedule, and as events unfold more news will be announced.'
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: ATLED)
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.
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Web: www.isracann.com
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