VANCOUVER, British Columbia, March 28, 2022 (GLOBE NEWSWIRE) -- Isracann Biosciences Inc. (CSE: IPOT) (XFRA: A2PT0E) (OTC: ISCNF) (the “Company”) is pleased to announce that, further to the Company’s news release dated February 23, 2022, it has entered into a definitive agreement (the “Agreement”) dated March 24, 2022 with Praesidio Health Inc. (“Praesidio”). Pursuant to the Agreement, the Company will acquire all of the issued and outstanding shares in the capital of Praesidio (the “Praesidio Shares”) for aggregate consideration of C$4,000,000 in common shares (the “Consideration Shares”) of the Company (the “Transaction”). Upon closing of the Transaction (“Closing”), Praesidio will operate as a wholly-owned subsidiary of the Company.