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UPDATE -- PSIQ to Receive Assignment of License to Prepare Land in Israel With the Intent to Grow, Cultivate, Distribute and Export Medical Cannabis to the Projected $57 Billion Global Legal Cannabis Market
UPDATE -- PSIQ to Receive Assignment of License to Prepare Land in Israel With the Intent to Grow, Cultivate, Distribute and Export Medical Cannabis to the Projected $57 Billion Global Legal Cannabis Market.
About this update from Profile Solutions Inc
[{"type":"text","content":"\nSUNRISE, Fla., April 03, 2019 (GLOBE NEWSWIRE) -- Profile Solutions, Inc. (OTC Pink: PSIQ) is pleased to announce the signing of a letter of intent for the assignment of a temporary license to prepare farm located at Hatzeva 37 Arava, Israel to grow and cultivate Medical Cannabis on 10,000 square meters therein with the intent to receive a permanent license to grow, cultivate, distribute and export Medical Cannabis.\n The assignment shall be made by Gidon Blum (“Blum”) to a to-be-formed US or Israeli subsidiary of PSIQ as soon as possible. The parties shall make every effort to (a) prepare the farm to grow, cultivate, distribute and export Israel Medical Cannabis (“IMC”) based upon the most advanced agricultural and medical know-how and experience according to the Company's best-in-class quality standards and policies, including Good Agricultural Practices (“GAP”). GAP is quality and control of agricultural products. It is based on the principals of risk prevention, risk analysis, sustainable agriculture and the means for continuous improvement of farming systems. GAP is essential for international trade in food to developed countries where GAP is used. Consumers are increasingly concerned about food safety, how food was grown, produced, and how it is handled within the supply chain. GAP provides the consumer with a sense of quality that they require. In terms of GAP, it can be applied in the same way to medical cannabis cultivation as it can for other herbs and food items. GAP is not limited to food, it includes herbal medicines as well. The quality in herbal medicines play a major role on its function and lack of quality may result in adverse effects on patients. The safety and quality of raw herbals and finished products made from herbals depends on the genetics of the plat or growing conditions (environment, nutrients, pesticides, cultivation, harvest, post-harvest processing, and storage). Proper sanitation, pest and microbiological control should be implemented during growing and through the supply chain in order to maintain the safety and quality of the herbal products. GAP includes the following fields: Security for the farm, Safety of the food, Environment, Farming systems, livestock care and proper nourishment. GAP requires having an additional control for growi...