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Cannabics Pharmaceuticals Partners with Eroll Grow Tech to Create First Auto-Grow Device for Medical Cannabis
Cannabics Pharmaceuticals Partners with Eroll Grow Tech to Create First Auto-Grow Device for Medical Cannabis.
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[{"type":"text","content":"\n\n\n\nCannabics Pharmaceuticals Partners with Eroll Grow Tech to Create First Auto-Grow Device for Medical Cannabis\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCannabics Pharmaceuticals Partners with Eroll Grow Tech to Create First Auto-Grow Device for Medical Cannabis\nCompanies will develop controlled propagation facilities for the medical cannabis industry\nPR Newswire\nTEL AVIV, Israel and BETHESDA, Maryland, Aug. 14, 2018\n\n\n\nTEL AVIV, Israel and BETHESDA, Maryland, Aug. 14, 2018 /PRNewswire/ -- Cannabics Pharmaceuticals Inc. (OTCQB: CNBX), a leader in personalized cannabinoid medicine focused on cancer and its side effects, today announced a partnership agreement with Eroll Grow Tech ltd (\"Seedo\"), developer of the world's first fully-automated grow device designed specifically for cannabis.\n\n \nThrough this new partnership, Cannabics and Seedo will develop the first controlled device for growing medical cannabis at home, ensuring sustainable quality and supply of natural, pesticide free product. The fully-automated grow device will be managed and controlled by an artificial intelligence algorithm and monitored by a smart phone app, using technology successfully implemented by Seedo for recreational growth. \n\nPer the agreement,\n\n\nCannabics Pharmaceuticals will purchase up to 20 percent of Seedo's common shares.\nCannabics will receive royalties of up to $8 million with a minimum of $500,000 guaranteed for the 2019 fiscal year.\nSeedo will be allotted a warrant for one million Cannabics common shares at a price of $2.00 per share for a period of 1 year.\n\"This initiative will enable patients and eventually businesses to take control of their medical cannabis supply in a revolutionary manner,\" said Eyal Barad, CEO of Cannabics Pharmaceuticals. \"Seedo's high-tech devices and Cannabics' capabilities will support the sustainable delivery of the right form and quality of medicinal cannabis.\"\n\nSeedo holds a Medical Cannabis R&D license from the Israeli Health Ministry. The company's grow device creates lab conditions in order to optim...