Isracann Biosciences Inc. (CNSX:IPOT) entered into a binding Letter of Intent to acquire Praesidio Health Inc. for CAD 4 million on February 16, 2022. Isracann Biosciences Inc. (CNSX:IPOT) entered into a definitive agreement to acquire Praesidio Health Inc. on March 24, 2022. The consideration shares will be issued in seven tranches, with CAD 1 million of Consideration Shares to be issued on the date the acquisition closes and CAD 0.5 million of consideration shares to be issued every six months thereafter until the third anniversary of the closing date. Dr. George Vrabec and Bob Mehr are appointed to the positions of Director of Natural Health Products and Vice President of Natural Health Product Development, respectively, in connection with the Transaction. The transaction remains subject to certain closing conditions, including, without limitation, the receipt of all necessary corporate and regulatory approvals and other customary closing conditions. There can be no assurance that the transaction will be completed as proposed or at all. Closing of the transaction is expected to occur on or about April 6th, 2022.

Isracann Biosciences Inc. (CNSX:IPOT) completed the acquisition of Praesidio Health Inc. on April 12, 2022. As on October 24, 2022 Isracann Biosciences Inc. issued 12 million common shares as a Second Instalment were issued at a deemed price of C$0.0416 per Second Instalment Share to the shareholders of Praesidio and are subject to a contractual escrow period, with release dates ranging from 12 to 48 months following the Closing Date.