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8-K - CURRENT REPORT - CITRINE GLOBAL, CORP. | brdt0402214.htm |
EXHIBIT 99.1
BreedIT (OTC: BRDT) Teams Up with Experienced Israeli Medicinal Cannabis Grower
to Breed, Own and Sell Unique Cannabis Seeds
Global Cannabis Seed Market Represents Huge Opportunity for BreedIT
REHOVOT Israel, March 31, 2014 /PRNewswire via COMTEX/ -- BreedIT Corp. (OTCQB:
"BRDT": "BreedIT" or the "Company"), through its Israeli subsidiary, BreedIT
Ltd., the exclusive worldwide license holder and distributor of highly
sophisticated agro-breeding solutions software for plant breeders and
researchers, today announced that as a part of the its business development
efforts focused on emerging medicinal Cannabis markets worldwide, the Company
has entered into a strategic partnership with an experienced Israeli medicinal
cannabis grower "Sheifa Le'Haim" (the "Grower") to breed and own unique and
hybrid cannabis seeds utilizing its advanced Intelligent Decision Support System
(IDSS). The partnership is focused not only the breeding of cannabis seeds, but
also on the future ownership of these unique and hybrid cannabis seeds, and the
option to sell them in the market.
On March 30, 2014, BreedIT and Sheifa Le'Haim entered into a 50/50 joint venture
agreement designed to develop and own new cannabis seeds. The development of
these unique cannabis seeds will be done utilizing BreedIT's unique
agro-breeding IDSS technology combined with the Grower providing needed
oversight and guidance during the growth process. All development will be done
in a dedicated area of Sheifa Le'Haim's facility. Each resulting cannabis seed
will be owned by the joint venture.
Sheifa Le'Haim was founded and granted with a license from the Israel
government's health ministry to grow cannabis for medical purposes in 2008. The
name Sheifa Le'Haim in Hebrew has double meaning: "Sheifa" means "breathing"
and/or "ambition," while "Le'haim" means "for life." Such license has been
granted to only eight growers including Sheifa Le'Haim in Israel, who is the
only Israeli grower with global GAP (Good Agriculture Practice). For more
information on Sheifa Le'Haim please visit www.shaefa.co.il/
Commenting on the joint venture, Sheifa Le'Haim's Chief Executive Officer, Hagai
Helman stated, "The breeding of unique and hybrid medicinal cannabis seeds is
complex, requiring a team of breeding experts and technology. BreedIT's
state-of-the-art IDSS technology and world class breeding team, combined with my
experience in growing cannabis, provide the requisite scientific tools and
expertise to make this partnership a success. We look forward to bringing this
vision to fruition and being one of the top producers, owners and sellers of an
array of unique and in-demand cannabis seeds."
Itschak Shrem, Chairman of BreedIT Corp, commented, "We are excited to partner
with such an established and experienced cannabis grower for the production,
ownership and sale of these unique cannabis seeds. This initiative has the
potential to bring significant top-line revenue to our business once the seeds
are ready. Eager to get started on this effort, we expect to begin the breeding
process immediately."
Mr. Shrem continued, "The emerging cannabis seed market, recognized as one of
the most profitable areas in global agriculture worldwide, is a leading market
for our IDSS technology. As such, over the past few months, our business
development efforts have been focused on penetrating this market and will
continue to moving forward. Our Board of Directors is evaluating a few
additional opportunities for same type of partnership in Israel and in other
parts of the globe including North America. We will update the investment
community on these developments as they occur."
About BreedIT Corp
BreedIT Corp (BRDT), through its Israeli subsidiary, BreedIT Ltd., is the
developer of highly sophisticated agro-breeding solutions for plant breeders and
researchers. BreedIT's proven Intelligent Decision Support System (the "IDSS
Software"), which was developed by a team consisting of among the world's
leading breeding specialists for optimizing the breeding processes, services the
plant breeding needs of corporations, research and government institutions.
BreedIT's IDSS provides advanced solutions for generating and disseminating
knowledge aimed at assisting breeders to plan, manage and analyze their breeding
data and to perform research activities quickly and effectively. Founded in
2010, BreedIT Corp has offices in New York, New York and in Rehovot, Israel.
Forward-Looking Statements:
This letter contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended and Section 21E of the Securities
Exchange Act of 1934, as amended. All forward-looking statements are inherently
uncertain. In evaluating such statements, prospective investors should review
carefully various risks and uncertainties identified in this release, as actual
results may differ materially from those indicated.* BreedIt Corp's public
filings may be viewed at www.sec.gov/.
Investor Relations: Howard Gostfrand info@amcapventures.com +1-305-918-7000
SOURCE BreedIT Corp