BreedIT Ltd. and Seach Ltd. Form KanaboSeed to Develop New Medical Cannabis Varieties - WRBL

BreedIT Ltd. and Seach Ltd. Form KanaboSeed to Develop New Medical Cannabis Varieties

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SOURCE BreedIT Corp

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."

Dr. Sagee continued and added, "Dedication to the ethical production of high quality, consistent seed strains is critical as we turn our focus to the development of innovative Cannabis seeds for the medical community. BreedIT is being advised by its Scientific Advisory Board members on various scientific methods and issues. Our access to the horticultural expertise and farming resources of Seach will be invaluable as we begin to breed new Cannabis strains."

Mr. Shay Avraham Sarid, Head of Research and Development at Seach, also commented on the announcement, stating "I am so pleased to be working with the BreedIT team. They are pioneers in the field and their technology is cutting-edge. We have generated a substantial amount of data around the growth and use of medicinal Cannabis on our farms over the past 10 years, and although we have only just begun to harness the power of the iBreedIT technology, the results to date have been remarkable."

Seach Co. 

Seach Ltd (http://www.Seach.co.il) operates a 10-acre farm in Sharon, Israel where they work with third parties to develop and grow new varieties of flowers and field crops. Their state-of-the-art facilities include greenhouses with full climate and light control, enabling manipulation of growth, flowering and harvesting cycles.

In 2005, Seach was awarded one of only eight licenses to grow and distribute medical Cannabis issued by Israel's Ministry of Health. Soon after, they were also issued a license to operate a Cannabis testing laboratory, making it an official supplier of medical grade Cannabis for the Ministry of Health. Since that time, Seach has worked in collaboration with physicians and patients to develop and grow Cannabis strains specifically tailored for the medical indications approved within Israel.

About BreedIT Corp. 

BreedIT Corp. (BRDT) , through its Israeli subsidiary, BreedIT Ltd (http://www.ibreedit.com) , is the developer of highly sophisticated agro-breeding solutions for plant breeders and researchers. BreedIT's proven iBreedIT® - the Intelligent Decision Support System (IDSS) for breeders which was developed by a team consisting of among the world's leading breeding specialists for optimizing the breeding processes, services the plant breeding needs of corporations, research and government institutions. BreedIT's IDSS provides advanced solutions for generating and disseminating knowledge aimed at assisting breeders to plan, manage and analyze their breeding data and to perform research activities quickly and effectively. Founded in 2013, BreedIT Ltd has offices in New York, New York and in Rehovot, Israel.

Forward-Looking Statements: 

This press release may contain forward-looking statements, including information about management's view of the Company's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of the Company, its divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents the Company files with the Securities and Exchange Commission, including but not limited to, its Form 10-K, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on the Company's future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, as actual results may differ materially from those indicated.*

BreedIt Corp's public filings may be viewed at http://www.sec.gov/.

Contact:
Lorin Cohen
lorin@incitefulpr.com
+1-720-319-7519

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