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Whitefish, Montana–(Newsfile Corp. – August 12, 2020) – CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the leading media network dedicated to the global legal cannabis, CBD and psychedelics industries announces an article discussing Israeli cannabis legalization, and Israel’s only publicly-traded cannabis pure-play, Isracann Biosciences, Inc. (CSE: IPOT) (OTC Pink: ISCNF).

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Isracann Biosciences, Inc.

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Israel could become the next country to legalize adult-use cannabis after lawmakers gave preliminary approval to two bills calling for the decriminalization of cannabis and the regulation of its sale for recreational and medical use.

Let’s take a closer look at the move and what it means for public companies operating in the country, including Isracann Biosciences Inc. (CSE: IPOT) (OTC Pink: ISCNF)-the only Israeli pure-play opportunity in the space.

Legalization on the Horizon

The Israeli government’s approval of two preliminary cannabis bills would decriminalize the possession and use of small quantities of cannabis, as well as create a regulatory framework governing the sale of adult-use and medical cannabis in the country. While the discussions remain early-stage, it could mirror that of Canada or other legal countries.

Israel has a burgeoning medical cannabis industry already that has more than 50,000 authorized users and that figure is rapidly growing. At the same time, the country has some of the highest per capita cannabis usage rates in the world at nearly one-third of people between the ages of 18 and 65-creating an enormous market opportunity.

In addition to its legalization efforts, Israel has long been a leader in cannabis research and development. The country became the first country in the world to allow medical research and cultivation back in 2007, while THC and CBD cannabinoid structures were originally discovered at Hebrew University of Jerusalem.

The Israeli Cabinet approved the export of medical cannabis back in 2019 and the government gave the final go-ahead earlier this year. The move could open the door to exports to the European Union, which is located nearby and represents a massive and underserved market for medical cannabis and CBD products.

Capitalizing on the Market

There are several public and private companies targeting the Israeli cannabis industry, but few of them are pure-plays that trade on North American exchanges.

Isracann Biosciences Inc. (CSE: IPOT) (OTC Pink: ISCNF) has an expected annual capacity of more than 23,000 kilograms of dried cannabis at its Cannisra farm and with Israel’s favorable climate, management anticipates becoming a low-cost cannabis producer with costs of just $0.40 per gram-translating to attractive margins.

Click the image below to view a brief overview of the cannabis opportunity in Israel

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Additionally, in the Hefer Valley region, the company’s joint venture farm, Cannation Ltd., is nearing the completion of phase one construction and already has signed an offtake agreement with Israeli licensed producer Focus Medical Herbs Ltd. The property contains a 55,000 sq. ft. greenhouse that’s complete and awaiting final security inspection and a 110,000 sq. ft. facility for use as expansion.

“From our ongoing development efforts at our initial Cannisra Holdings project, to our exciting advancements in the Hefer Valley, we’ve mapped out an integrated package of properties with a multi-greenhouse strategy which includes a network of important partners and stakeholders across Israel and Europe,” said CEO Darryl Jones.

Looking Ahead

Israel is rapidly progressing toward domestic legalization and the export of medical cannabis to the undersupplied European Union. Isracann Biosciences Inc. (CSE: IPOT) (OTC Pink: ISCNF) is well positioned to capitalize on these dynamics with its various ongoing projects and agreements that are close to reaching a commercialization point.

For more information, visit the company’s website at www.isracann.com.

Click here to read the full article: https://www.cannabisfn.com/israel-steps-closer-to-cannabis-legalization/

About CFN Enterprises Inc.

CFN Enterprises Inc. (OTCQB: CNFN) is a digital media and ecommerce company focused on advancing businesses and brands in highly regulated emerging industries across the globe. CFN connects investors with new market opportunities while helping consumers find innovative products that enhance their lives. Learn more at www.cfnenterprisesinc.com.

CFN Enterprises Inc. Media Contact:
CFN Enterprises Inc.
+001 (833) 420-CNFN
investors@cfnenterprisesinc.com

FORWARD-LOOKING STATEMENT

Use of Forward-looking Statements

This press release may contain forward-looking statements from CFN Enterprises Inc. within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, when CFN Enterprises Inc. describes the potential acquisition of BarNone assets and the related benefits, its pursuit of M&A opportunities, growth in CBD sales and spending on affiliate marketing, and uses other statements containing the words “believes,”http://finance.yahoo.com/”anticipates,”http://finance.yahoo.com/”plans,”http://finance.yahoo.com/”expects,”http://finance.yahoo.com/”will” and similar expressions, CFN Enterprises Inc. is using forward-looking statements. These forward-looking statements are based on the current expectations of the management of CFN Enterprises Inc. only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial markets; the regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; changes in applicable laws; compliance with extensive government regulation; public opinion and perception of the cannabis industry; we may be unable to retain or attract key employees whose knowledge is essential to the development of our products and services; or, loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of CFN Enterprises Inc. to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, CFN Enterprises Inc. undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting CFN Enterprises Inc., reference is made to CFN Enterprises Inc.’s reports filed from time to time with the Securities and Exchange Commission.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61530

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