Isracann Biosciences Inc (OTCMKTS:ISCNF) Strikes A Partnership With A Late Stage Cannabis Farm
Isracann Biosciences Inc (OTCMKTS:ISCNF) has moved into a new deal to acquire a massive facility. The MOU of the joint venture has been signed already after the company considered the economics of the opportunity. It is a facility with significant potential since it may help the company expand its existing footprint.
About the partnership
The locking of the partnership with the late-stage cannabis farm is a progressive move, according to analysts. They speak about the strategic positioning of the expansive facility. There is an agricultural center in its vicinity that cooperates with some leading licensed producers. This is to the western side of the “Be’er Sheva Farm.”
The business guru says that the terms of the deal will be unveiled at a later date. That will be upon the signing of the deal, and the company will need to conform to the due diligence of the Be’er Sheva Farm.
This farm expands to almost 880,000 sq. ft. providing enough space for agricultural activities. Some two steel greenhouse structures were assembled a while back. The company looks forward to the completion of the build-out activities, which will represent increased production capacity. Analysts project that it will be a 100% increase in the company’s production capacity.
Isracann Biosciences says that it will oversee that activities in the facility conform to high standards. There are also plans underway to enclose the facility using top quality polycarbonate cladding.
More details about the deal
The company also discloses that the facility has already acquired all the land and construction use permits. It will be counting on the knowledgeable cultivation team to ramp up business operations. It is a team with an elaborate agronomic experience in regional cannabis operations.
Darryl Jones, who happens to be the company’s CEO, says that the company’s agronomic consultants were the ones that enlightened them on the deal. After a close review, they saw the outstanding potential and thus decided to take it up. According to the leader, the economics of a given opportunity is something they usually pay keen focus to. They locked the deal and are looking forward to brighter times ahead.
The facility may be what the company has been looking forward to in the expansion of its existing footprint.