Isracann Biosciences Inc - President and CEO, Darryl Jones
President and CEO, Darryl Jones
Source: Investing News Network
  • Isracann Biosciences (CSE:IPOT) has welcomed the Israeli Government’s approval of cannabis exports for sale to foreign medical markets
  • The Israeli Ministry of Economy recently signed a Free Export Order for medical cannabis products, on May 13, 2020
  • Isracann is now preparing to apply for an export permit, allowing it to ship cannabis products to international markets
  • In other news, the company has promoted its Vice President of Operations, Matt Chatterton, to Chief Operating Officer
  • Isracann Biosciences (IPOT) is up 4.26 per cent and is currently trading at C$0.49 per share

Isracann Biosciences (CSE:IPOT) has welcomed the Israeli Government’s approval of cannabis exports for sale to foreign medical markets.

Israel’s Ministry of Economy signed a Free Export Order for medical cannabis products on May 13, 2020. Israel’s licensed medical cannabis producers can now apply for an export permit, allowing them to ship products to international markets. 

This includes Isracann, which intends to apply for such an export permit at the earliest possible time. The company is depending on its regional consultants to make sure that the application is made as soon as possible.

Isracann’s CEO, Darryl Jones, indicated that the government’s approval couldn’t come at a better time. 

“As we have noted previously, supply in both the domestic and European markets is lagging behind demand, especially in Europe as more countries work on less restrictive regulations.

“Our timely ability to jump into the gap will be a great opportunity for Isracann. Additionally, our marketing strategy aims to leverage Israeli-branded products as fundamentally superior, due to the unique environment and advanced agronomics Israel offers.

“We look forward to working with our consultants and the Ministry to ensure we are ready to apply for export permitting, as soon as the application process is clarified,” he said.

In other news, the company has promoted its Vice President of Operations, Matt Chatterton, to Chief Operating Officer. Matt replaces Israel Moseson, a founding member of Isracann who stepped down from his role as COO.

Matt thanked the company for his promotion to the role, and described his vision for the future.

“As we move ahead into commercialisation, I am confident that our team can quickly advance towards revenue generation and sustainable growth,” he said.

Isracann Biosciences (IPOT) is up 4.26 per cent and trading at C$0.49 per share at 3:12pm EDT.

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