Tel Aviv, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Citrine Global, Corp. (OTCQB: CTGL) is pleased to announce that its subsidiary, Cannovation Center Israel Ltd., has entered into a manufacturing agreement with iBOT Israel-Botanicals Ltd. for Cannovation Center’s new product line of herbal products and supplements under the brand name of "Green Botanicals".
Cannovation Center developed the Green Botanicals product line, which includes dozens of unique herbal formulas and is planning to run clinical trials on some of them.
Cannovation Center is targeting to distribute the Green Botanicals product line mainly through pharmacies and distribution channels of the medical cannabis industry.
iBOT develops and manufactures botanical formulas and nutritional supplements for custom & contract manufacturing for leading companies. iBOT’s manufacturing facility is approved by the Israeli Ministry of Health and is GMP-certified, ISO9001-certified and HACCP certified by IQC.
Ms. Ora Elharar Soffer, Citrine Global’s Chairperson and Chief Executive Officer stated: “We are excited to launch the Green product line starting with the Green Botanicals family".
About the Green Product Families
The Green Product lines includes:
- Green Botanicals Family:dozens of herbal formulas and supplements.
- Green Medical Cannabis Family:premium cannabis inflorescences and oils.
- Green CBD & Hemp Family: cannabis-infused dermo-cosmetic products, health beverages, and more.
* All products are pending and dependent on receiving regulatory approval from the Israeli Ministry of Health & compliance with the relevant regulations in each territory.
About Citrine Global Corp.
Citrine Global Corp. is a U.S. publicly traded company on OTCQB (symbol: CTGL) and has applied for an up listing to Nasdaq.
The company's main business activity is comprised of developing and acquiring technologies, solutions, and products for the rapidly growing botanical and medical cannabis industries.
Our Vision: To become a leading global company for wellness & pharma technology solutions in the botanical and medical cannabis industries and to improve people’s health and quality of life worldwide
Our 5-Element Strategy: We created a 5-element strategy to realize our vision to become a leading global company.
1. The 1st Element: Israeli Technology & Innovation for the Botanical & Medical Cannabis Industries
Citrine Global’s business activity is comprised of developing Israeli technologies and solutions. Israel is well positioned as a leader in the medical cannabis industry and we put special focus on Israeli technologies as a leading source of innovation for global markets.
Our headquarters, top executives and partners are based in Israel where we have a strong foothold with leading universities, researchers, labs, industry leaders and entrepreneurs to create an ecosystem, which promotes the botanical and medical cannabis industries.
2. The 2nd Element: Cannovation Center Israel
Cannovation Center is a unique platform that creates eco-systems for the health, wellness, botanicals, and medical cannabis industries. The first Cannovation Center is being built in Israel with Israeli government support.
Cannovation Center Israel will include laboratories for botanical and cannabis research, plant genetics, pharmacological research, product development and facilities for preclinical and clinical trials, certified factories for cannabis, health and wellness products, storage, packaging, distribution, and consultancy services for strategy and business development.
3. The 3rd Element: Developing and Commercializing Wellness & Pharma Products for the Botanical and Medical Cannabis Industries
Our strategy includes bringing to market innovative pharma & wellness technologies, solutions, and products for the botanical and medical cannabis industries. The Green Product Line is being developed by Cannovation Center Israel and includes the Green Botanicals Family of dozens of herbal formulas and supplements; the Green Medical Cannabis Family of premium cannabis inflorescences and oils; and the Green CBD & Hemp Family of cannabis-infused, dermo-cosmetic products, health beverages and more.
4. The 4th Element: Acquiring Companies
The Cannabis Industry has reached a stage of consolidation with accelerated M&As and funding in capital markets supported by the continued momentum towards legalization in various countries. Our strategy consists of acquiring companies with IP, R&D, patents, and distribution networks to leverage company value and IP.
5. The 5th Element: Global Network & Market Potential
Our growth strategy includes creating an international network of subsidiaries, local teams, and partners worldwide, building Cannovation Centers and targeting the growing botanical and medical cannabis industries and potentially additional innovative industries in the long term.
Target Markets worth trillions of $:
1) Grand View Research on Botanical Market
2) Global Market Insights CBD Market
3) Prohibition Partners Global Cannabis Report
4) Formula Botanica Research on Organic Beauty Market
Website: 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 that Cannovation Center Israel Ltd. will create an eco-system that will attract partners, market leaders, companies, and technologies, and will turn Cannovation Center Israel Ltd. into a global center in these fields. These forward-looking statements and their implications are based on the current expectations of the management of Citrine Global, 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.
* All products are pending and dependent on receiving regulatory approval from the Israeli Ministry of Health & compliance with the relevant regulations in each territory. All images are for illustration purposes only and do not obligate the Company. All rights reserved by the Company.
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