SEEDO to Establish Medical Cannabis Farm in Moshav Brosh, Israel
TEL AVIV, Israel, April 8, 2019 /PRNewswire/ -- Today, Seedo Corp., "Seedo" (OTCQB: SEDO), a high-tech company providing the world's first fully automated and controlled indoor growing machines for the pesticide-free cannabis and agricultural markets, announced today it will establish Second fully automated, commercial-scale, pesticide-free containerized cannabis farm in Israel.
Brosh Containers farm will be built enabling automated, closed system cultivation will be installed. The farm's production capacity is anticipated to reach 12 tons of dry cannabis inflorescence per year, as of the third year, in Moshav Brosh.
SEEDO will become a partner sharing in the project's revenue, and in addition to supplying the equipment, will also provide the entrepreneurs with professional guidance throughout the growth process.
"I am excited of this second cannabis farm agreement of which the company plans to construct," said Seedo CEO Zohar Levy. "We certainly intend to build similar projects in other parts of the world."
SEEDO has already signed an agreement with Kibbutz Dan for the establishment of an automated growth farm, within 36 months of operation, the project is estimated to produce a minimum of 14 tons of dry cannabis bud, generating an estimated revenue of $24 million dollars.
About Seedo
Seedo is a market leading high-tech company providing the cannabis and agriculture industries with the world's first fully automated and controlled indoor growing machine. Seedo provides growers with the freedom to cut costs while generating high yields of lab-grade, pesticide-free herbs and vegetables. Seedo's AI-powered, turnkey systems enable anyone from average consumers to large-scale producers the ability to grow without prior experience or ample space. Seedo is a publicly traded company backed by a group of international investors including Cannabics Pharmaceuticals and is headquartered in Israel. For more information, visit http://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, including, but not limited to, results of clinical trials and/or other studies, 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, our latest Form 10-K Report filed on January 15(th), 2019. 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.
Contacts:
Seedo Corp.
+972-546-642-228
General Information: info@seedolab.com
http://www.seedolab.com
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SOURCE Seedo Corp.
