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Citrine Global Corp (OTCQB: TECR) Announces Strategic Cooperation with Intelicanna Ltd. (TASE: INTL), whose First Phase includes the Execution of a $500,000 Share Exchange Agreement
Citrine Global Corp (OTCQB: TECR) Announces Strategic Cooperation with Intelicanna Ltd. (TASE: INTL), whose First Phase includes the Execution of a $500,000 Share Exchange Agreement.
About this update from Citrine Global Corp.
[{"type":"text","content":"Citrine Global Corp., offering multi-strategy expansion solutions for growth-stage technology companies, entered into a strategic partnership with Intelicanna Ltd., a publicly traded Israeli medical cannabis company listed on the Tel Aviv Stock Exchange (INTL).Citrine Global is currently trading as TechCare Corp. (TECR). Its name change to “Citrine Global Corp.” is expected to take effect soon.On May 31, 2020, Citrine Global Corp. (OTCQB: TECR), offering multi-strategy expansion solutions for growth-stage technology companies, entered into a strategic partnership with Intelicanna Ltd., an Israeli company listed on the Tel Aviv Stock Exchange with ticker symbol INTL. Under the share exchange agreement, each party will issue to the other $500,000 worth of its shares.The companies intend the aforementioned agreement to provide the framework for further collaboration and for building and implementing a strategic plan for Intelicanna’s growth. Citrine Global supports high-growth technology companies via an array of services, from assistance with strategic business planning to financing and operational execution, customized per individual company’s needs.Intelicanna is a publicly traded medical cannabis company based in Israel. It has obtained all regulatory approvals needed, including from the Medical Cannabis Unit in the Israeli Ministry of Health, and has established in Israel one of the leading technological facilities in compliance with IMC-GAP regulations. Intelicanna is involved in R&D and has an agreement with Canasoul, founded by Prof. Dedi Meiri, one of the world’s leading researchers in cannabis. Intelicanna has in place agreements with several companies in the industry for medical cannabis and CBD-based products.Ms. Ora Soffer, Citrine Global’s Chairperson and CEO, commented: “This partnership demonstrates our confidence in Intelicanna and in its ability to execute its strategy and business plan while strengthening Intelicanna’s leadership in medical cannabis. It will allow Intelicanna a broader and deeper access to resources for realizing the company’s strategic expansion plans”.Mr. Ori Weiss, Intelicanna’s CEO, stated: “I look forward to working with Citrine Global. The share exchange agreement opens the way for flexible collaboration that can cover many scenarios that may contribute significantly to the company’s ex...