Citrine Global Israel and Ms. Tal Ohana, Mayor of Yeruham in the South of Israel, are Promoting an Innovation Center to be Established in Yeruham's Biopharma Park by Cannovation Center Israel Ltd.

Tuesday, 24. November 2020 20:01

Cannovation Center Israel platform integrates everything needed to promote the medical cannabis industry and CBD & hemp-infused products and botanicals and will be a big step towards fulfilling the vision of Ms. Tal Ohana Yeruham's mayor of turning Yeruham into a medical cannabis research, technology and production capital

Tel Aviv, Israel, Nov. 24, 2020 (GLOBE NEWSWIRE) -- CTGL - Citrine Global Israel Ltd. (“Citrine Global Israel”) and Ms. Tal Ohana, Mayor of Yeruham, are working to establish the Cannovation Center Israel in the South of Israel in Yeruham's Biopharma Park. Cannovation Center Israel will include factories for medical cannabis products, CBD , hemp, food, nutritional supplements, and cosmetics; laboratories for production, research & development, and clinical trials; a center for logistics, distribution, import, export, and more. Cannovation Center Israel Ltd. is in the process of getting Israeli government support for the project.

Citrine Global Israel views Cannovation Center Israel as a national project, which it believes will be a leading manufacturing, operational and research center and will bring together technologies, partners, and companies from Israel and around the world.

Tal Ohana, Mayor of Yeruham: "GreeNegev vision, the first cannabinoid ecosystem in Israel, is already a reality in Yeruham. Within one year we established a technological incubator in the cannabis field with expected investments of over 150 million NIS in partnership with leading international companies; we prepared agricultural and industrial areas adapted for cannabis growing and innovative cannabis-based products approved by the Israeli Ministry of Economy; we built an academic partnership for training and will soon recruit young entrepreneurs from Israel and around the world to take part in a unique technology accelerator. We have been working with Ora and Citrine for several years and the Cannovation Center Israel will leverage our activity in Israel and abroad".

Ora Elharar Soffer, CEO of Citrine Global, Corp.: “We believe in our unique innovation centers' platform, which creates ecosystems for innovative technology industries with global growth potential. We recognized the existing need for innovation centers in the medical cannabis and food tech industries in Israel and decided to establish Cannovation Center Israel in Yeruham. We believe in Ms. Tal Ohana's vision and look forward to a fruitful cooperation. Cannovation Center Israel will enhance collaboration between entrepreneurs, universities and companies from all over the world and the companies and partners participating in the center, thus contributing to Yeruham's success".

About Citrine Global Corp., CTGL - Citrine Global Israel Ltd. and Cannovation Center Israel Ltd.
Citrine Global, Corp. (OTCQB: CTGL) (“Citrine Global”) develops strategic solutions for emerging technology industries with global growth potential in the high-tech and biotech fields.

The company has solutions that combine supportive environments that include among others:

  • Entrepreneurship and establishment of innovation centers for production, operations, R&D, marketing, import, export, and more.
  • Financing and investments, with Citrine team being involved and assisting in building the strategy for realizing the potential in the field.

Citrine Global's innovation center strategy is a unique platform for building an ecosystem for innovative technology industries with global growth potential.

The goal is that each innovation center will focus on a major field, creating synergy between companies and providing an operational solution that includes manufacturing, research and development, labs, clinical trials, a logistics center, distribution, import, export, and more.

The companies that will participate in the innovation centers will also be able to benefit from assistance in building strategy, financing, investments, and collaboration between entrepreneurs, universities, and companies from all over the world.

Citrine Global Corp operates in Israel through its subsidiary, CTGL - Citrine Global Israel Ltd., focusing on Israeli technologies in the industries of healthcare, wellness, food technology and medical cannabis. Citrine Global recognized the existing need for innovation centers in the medical cannabis and food tech industries in Israel and decided to establish the first medical cannabis innovation center in Israel via Cannovation Center Israel Ltd.

For more information about Citrine Global: http://www.citrine-global.com

For inquiries and further information, please contact: info@citrine-global.com

Safe Harbor Statement

This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. For example, Citrine Global is using forward-looking statements when it discusses its intent to promote, with the Yeruham Local Council, a vision to turn the city of Yeruham into a medical cannabis powerhouse, its intent to establish an innovation and operations center in the city of Yeruham, the anticipation that the Cannovation Center will bring together companies, factories, and partners from Israel and around the world, the likelihood of receiving support and the required approvals from the Israeli government offices to establish the Cannovation Center and expected investments of over 150 million NIS in partnership with leading international companies in the city of Yeruham. These forward-looking statements and their implications are based on the current expectations of the management of Citrine Global only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. 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. Except as otherwise required by law, Citrine Global undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting Citrine Global, reference is made to Citrine Global’s reports filed from time to time with the Securities and Exchange Commission.

 


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