Isracann Biosciences Acquires Natural Health Medicine Developer and Appoints Natural Health Products Officers

VANCOUVER, British Columbia, April 13, 2022 (GLOBE NEWSWIRE) -- Isracann Biosciences Inc. (CNSX:IPOT.CN) (XFRA:A2PT0E) (OTC:ISCNF) (the “Company”) is pleased to announce that, further to the Company’s news releases dated February 23, 2022 and March 28, 2022, it has closed its acquisition of Praesidio Health Inc. (“Praesidio”). Pursuant to the definitive agreement dated March 24, 2022 with Praesidio and the shareholders of Praesidio (the “Praesidio Shareholders”), the Company acquired all of the issued and outstanding shares in the capital of Praesidio (the “Praesidio Shares”) for aggregate consideration of C$4,000,000 in common shares (the “Consideration Shares”) in the capital of the Company (the “Transaction”). Praesidio will operate as a wholly-owned subsidiary of the Company.