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BreedIT Corp Submits First Two Proprietary Medical Cannabis Strains for Registration With Israel's Ministry of Agriculture
BreedIT Corp Submits First Two Proprietary Medical Cannabis Strains for Registration With Israel's Ministry of Agriculture.
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[{"type":"text","content":"\n\n\n\nBreedIT Corp Submits First Two Proprietary Medical Cannabis Strains for Registration With Israel's Ministry of Agriculture\n\n\n\n\n\nBreedIT Corp Submits First Two Proprietary Medical Cannabis Strains for Registration With Israel's Ministry of Agriculture\nFiling Comes Just Three Months After Establishing Joint Venture, Signaling Positive Impact Of IBreedIT Software On Breeding Process\nPR Newswire\nNEW YORK, December 2, 2014\n\n\n\nNEW YORK, December 2, 2014 /PRNewswire/ --\n\nBreedIT Corp., (OTCQB: BRDT) 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 its joint venture, KanaboSeed Ltd., has submitted applications for the registration of two new cannabis strains to the Israeli Ministry of Agriculture & Rural Development Plant Breeders' Rights Council.\n\nThe new varieties are the first to be developed by the KanaboSeed organization since the venture was formed in August of this year. Characterized by phenotypic and genotypic traits, the strains were cultivated to achieve CBD-to-THC ratios identified by the Company's Scientific Advisory Board as likely to be effective in the management of particular medical conditions.\n\nDr. Oded Sagee, Chief Executive Officer of BreedIT LTD, commented on the announcement: \"We formed KanaboSeed to leverage the horticultural expertise of Seach Ltd., a licensed Israeli medical cannabis grower, with the technical and research capabilities of BreedIT Ltd., as well as our iBreedIT software platform. Working together we are able develop and evaluate new strains relatively quickly, thereby reducing the timeline from research to market.\"\n\nDr. Sagee went on to say: \"These two registration applications are just the first for what we anticipate will be a line of new potential cannabis varieties that KanaboSeed is developing to address specific medical uses. We intend to capitalize on the commercialization of new varieties, as allowed by the laws and regulations, in Israel and other countries where regulation permits the use of medical cannabis.\"\n\nThe review process includes a 90 day period for public discourse as well as two harvest seasons. Once approved, the Company will be granted a registration (the equivalent of a p...