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Company: BreedIT Corp. (OTCQB: BRDT)
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Last:
Price: 0.2172
Change (%): + 0.0242 (12.54)
Volume: 36,203 |
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BreedIT Ltd. and Seach Ltd. Form KanaboSeed to Develop New Medical Cannabis Varieties
Venture Will Leverage iBreedIT Technology and Seach Farming Assets to Fast-track New Strain Research and Development
NEW YORK, August 21, 2014 /PRNewswire/ -- BreedIT Corp., (OTCQB: BRDT) through its Israeli subsidiary, BreedIT Ltd., the exclusive worldwide license holder and distributor of highly sophisticated agro-breeding solutions software for plant breeders and researchers, today is pleased to announce the formation of KanaboSeed Ltd., a joint venture with Seach Ltd, a leading Israeli medical Cannabis breeder.
KanaboSeed was formed to research and develop new breeds of medical Cannabis to meet the requests of physicians and other medical practitioners. Strains developed under the KanaboSeed brand will be commercialized directly, while those created for third parties will generate royalty payments. BreedIT Ltd and Seach Ltd. have equal ownership in KanaboSeed Ltd.
Dr. Oded Sagee, Chief Executive Officer of BreedIT LTD, commented, "We are very excited about our partnership with Seach - their achievements in the breeding and growing of medical Cannabis are extensive. We formed KanaboSeed to leverage the expertise of both of our companies to pursue the significant opportunities in the medical Cannabis market."
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