Citrine Global's (OTCQB: TECR) Board Approved in Principle to Invest in and Provide Services to iBOT, a Food Tech company, which Develops & Manufactures Botanical Formulations and Plans to include CBD & HEMP in its Product lines

Wednesday, 05. August 2020 17:08

Tel Aviv, Israel, Aug. 05, 2020 (GLOBE NEWSWIRE) -- Citrine Global is currently trading as TechCare Corp. (TECR). Its name change to "Citrine Global Corp." is expected to take effect soon.

Aug 5, 2020

On August 4, 2020, the board of directors of Citrine Global (OTCQB: TECR) approved in principle for Citrine Global and/or its wholly owned Israeli subsidiary, CTGL – Citrine Global Israel Ltd, to invest an amount of up to $1M within the next 12 months in iBOT: Israel Botanicals, an Israeli Food Tech, Nutraceutical company, and in addition, for Citrine Global and/or its wholly owned Israeli subsidiary to provide consulting and other services to iBOT.

This is another example of Citrine Global's multi-strategy solutions to support growth stage technology companies' expansion plans by providing a unique mix of ongoing financing support and business development services.

iBOT is a Food Tech, Nutraceutical company developing and manufacturing natural food supplements and medicinal formulations. The company is planning to include CBD & HEMP in its products to treat sleep problems, chronic pain, cognitive improvement, and more.

iBOT's manufacturing is ISO-certified serving its customers with a wide range of vitamin and herbal formulations in tablets, capsules, syrups, and tinctures.

About Citrine Global Corp.

Citrine Global business activity is comprised of creating value and implementing expansion strategies for growth-stage technology companies, offering multi-strategy solutions combining strategic marketing, business development, real estate and asset management services and financing solutions. Such wide spectrum of services is targeted at helping create an integrated strategy that supports our client companies in achieving their local and global expansion ambitions.

Citrine Global’s key target markets include the health and wellness fields, which are demonstrating high growth potential. Citrine Global empowers innovative companies to become global leaders and improve the health and quality of life of as many people as possible worldwide.

Citrine Global provides solutions to companies from Israel, USA, Canada, Europe and around the world through subsidiaries and local teams and professionals in each region.

The company operates in the Israeli market, via its fully-owned subsidiary CTGL – Citrine Global Israel Ltd., which targets Israeli technology companies in the fields of Healthcare, Wellness, Food Tech and Medical Cannabis.

In addition, CTGL – Citrine Global Israel Ltd is in the process of becoming the main shareholder in the Cannovation Center - Cannabis Innovation Center - in Israel. The Cannovation Center is planned to be a unique, all-in-one platform with factories for producing cannabis, HEMP and CBD products, laboratories and a logistics, distribution and recycling center, for supporting the cannabis eco-system. The Cannovation Center is planned to provide solutions for companies in Israel and worldwide, leveraging Israel’s leadership in cannabis innovation and promoting the production and distribution of cannabis, HEMP and CBD products for local and global markets. The Cannovation Center is in the process of obtaining a government grant. The Israeli Government provides grants and subsidies specific to the cannabis industry as part of its strategy for boosting the economy through technological innovation.

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This communication does not constitute an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of the Company.

This communication contains certain statements that are neither reported financial results nor other historical information and other statements concerning the Company.

These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, events, products and services and future performance. Forward-looking statements are generally identified by the words “will”, "expects", "anticipates", "believes", "intends", "estimates “, “target”, and similar expressions. These and other information and statements contained in this communication constitute forward-looking statements for purposes of applicable securities laws. Although management of the Company believes that the expectations reflected in the forward looking statements are reasonable, investors and security holders are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by the forward-looking information and statements, and the Company cannot guarantee future results, levels of activity, performance or achievements.

Factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this communication include, but are not limited to: trends in target markets; effects of competition in the Company's main markets; ability to establish and maintain strategic relationships in its major businesses; profitability of the growth strategy; and changes in global, political, economic, business, competitive, market and regulatory forces. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of such forward-looking statements. The forward-looking statements contained in this communication speak only as of the date of this communication and the Company or its representatives are under no duty, and do not undertake, to update any of the forward-looking statements after this date to conform such statements to actual results, to reflect the occurrence of anticipated results or otherwise except as otherwise required by applicable law or regulations

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