Isracann Biosciences Inc. announced that it has completed its previously announced acquisition (the "Transaction") of Isracann Holdings Inc. (formerly, Isracann Biosciences Inc.) ("Isracann"). Terms of the Transaction were set out in a share exchange agreement entered into on March 12, 2019, between the Company, Isracann and the shareholders of Isracann. The Transaction was approved at a special meeting of the shareholders of the Company held on July 5, 2019.

The Transaction constitutes a "fundamental change" pursuant to Policy 8 - Fundamental Changes and Change of Business of the Canadian Securities Exchange (the "CSE") and the Company will carry on the business of Isracann, which is now a wholly owned subsidiary of the Company. The Company announced its board of directors following completion of the Transaction is as follows: Darryl Jones, Sean Bromley, Yana Popova, Desmond Balakrishnan and Dr. Irit Arbel. In addition, the Company announced its executive management as follows: Darryl Jones - Chief Executive Officer and President; Yana Popova - Chief Financial Officer and Corporate Secretary; and Israel Moseson - Chief Operating Officer.