Seedo Corp.: Israeli Parliament Passes Bill Concerning Jurisdiction and Authority Over Exporting of Medical Cannabis
TEL AVIV, Israel, Dec. 26, 2018 /PRNewswire/ -- Seedo Corp. (OTC: SEDO), a leader in the manufacturing of automated commercial growing devices for medical grade cannabis, announced today that the Israeli Parliament (the "Knesset"), on December 25th, passed a bill that concerns the governance and regulatory aspects of exporting medical cannabis from Israel.
The bill, which passed the Knesset's internal affairs committee and two additional votes in the Knesset's grand hall, authorizes the Israeli Police to conduct supervision and grant approvals for cultivating, growing and exporting of Cannabis and Cannabis related products, thus clearing a legal obstacle necessary for the final approval of export of medical cannabis from the country, which is expected during 2019.
"Israel is a medical cannabis power," said Minister of Agriculture Uri Ariel, "The Israeli research conditions for growth in the field precede most of the countries in the world by 5-7 years because of progressive regulation."
"Furthermore, the products in Israel are manufactured according to strict production standards, on a medical level, like in the pharmaceutical industry - including strict security rules for the entire value chain, developed following inter-ministerial work which took place over a prolonged period of time."
Seedo is well positioned to take advantage and leverage the opportunity to export medical grade cannabis, cultivated and grown by Seedo's commercial auto-growing facility, which Seedo manufactures for the industrial sector.
The Automated growing facility is remotely controlled by algorithms that take into consideration multiple variables parameters data from within the facility. The automated growth ensures maximum yield of pesticide free, high quality medical grade cannabis which can be then processed and exported from Israel.
"This new legislation removes the last legal obstacle which remained in the path towards approving export and singing it into Israeli law," Said Zohar Levy, CEO of Seedo. "By the end of the year 2019, Israeli companies will be able to take advantage of our edge technology and leverage the possibility to export high quality, pesticide free medical cannabis to the world. We are proud to be able to offer this solution to the local Israeli and international growers."
About Seedo
Seedo has developed and produced the world's first fully-automated plant growing device managed and controlled by an artificial intelligent algorithm, monitored by your own smart phone Application, allowing consumers to grow their own herbs and vegetables effortlessly from seed to plant, while providing optimal conditions to assure premium quality produce year-round. Our product is suitable for both personal and commercial use.
Visit Seedo at: www.seedolab.com.
Disclaimer:
Certain statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, Seedo Corp. latest 8-KA Report filed on November 27(th) , 2018. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Seedo Corp. which are condoned by the Company must emanate from the Company itself, and bear our name as its Source.
For further information, please contact:
SEEDO CORP
+1-877-424-2429
http://www.seedolab.com
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