- Isracann Biosciences (IPOT) has renewed its leadership to meet changing demands
- Isracann moves from development to operations to meet its near-term commercial goals
- It is looking to refocus its efforts of veteran team members into a new more efficiently focused Isracann leadership team for the remainder of 2022
- Darryl Jones has resigned from the board of directors
- It intends to complete a non-brokered private placement of up to 50,000,000 units of the company at $0.06 for a total of $3 000 000
- Isracann Biosciences Inc. (IPOT) is in the grey, trading at C$0.08 at 10:32 am ET
Isracann Biosciences (IPOT) has elected to expand its leadership team effective immediately.
As Isracann moves from development to operations, and to better accommodate the integration of natural health medicine research and development to meet its near-term commercial goals for revenue generation this year, the company wishes to introduce added expertise and, in some instances, refocus the efforts of veteran team members into a new more efficiently focused Isracann leadership team for the remainder of 2022 and beyond.
James Thompson joins as Chief Operations Officer. Thompson is recognized as an established industry leader, dedicated to building high-performance teams and cultures.
Matt Chattertonmoves to Chief Science Officer, the appointment of a new COO allows Chatterton to focus his efforts and expertise on the engagement and support of clinical studies, as well as oversee manufacturing processes including qualification and management of suppliers and vendors.
Stephen Parker joins as VP of Business Development Parker brings over twelve years of marketing, public relations, communications and sales experience in CPG, cannabis, and the alcoholic beverage sectors.
Dr. George Vrabec, MD FRCSC (Urol.) joins as a board director. He has conducted more than 30 clinical trials in a wide array of Urological diseases and has published studies in various journals, including the New England Journal of Medicine.
Isracann also informed the public that Darryl Jones has resigned from the board of directors.
In related news, Isracann intends to complete a non-brokered private placement of up to 50,000,000 units of the company at $0.06 per unit for gross proceeds of approximately $3,000,000.
Each unit consists of one common share in the capital of the company and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share in the capital of the company at a price of $0.085 per warrant share for a period of 48 months from the closing of the offering.
The net proceeds of the offering will be used for product development and general operations.
Closing of the offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the exchange.
All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with the policies of the exchange and applicable securities legislation.
Isracann is a multidisciplinary cannabis-focused producer and product developer with Israeli-based cannabis production farm assets and a Canadian natural health medicine development and production arm.
Concurrently focused on initial retail sales in Canada and on becoming a premier cannabis producer offering low-cost domestic Israeli production, Isracann aims to commercialize natural health medicines in Canada and to leverage agreements within Israel for import/export opportunities and medicinal marijuana cultivation.
Isracann Biosciences Inc. (IPOT) is in the grey, trading at C$0.08 at 10:32 am ET.
