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PSIQ Forms CannBerry Tek to Develop a Cannabis Genetic Seed Bank to Create Proprietary Cannabis Seed Types and Strains
SUNRISE, Fla., Feb. 11, 2019 (GLOBE NEWSWIRE) -- Profile Solutions, Inc. (OTC Pink: PSIQ) announces the formation of CannBerry Tek, Inc. as a Hi-tech innovative Biotechnology Company to manage various Research & Development (“R&D”) activities with the major focus on the Medical Cannabis industry.
CannBerry Tek, Inc. (“CannBerry”) has assembled a powerful highly experienced R&D management team to operate in Israel. During the initial phase, CannBerry intends to focus on generating and developing a unique man-made repository of seeds known as a Cannabis Genetic Seed Bank to create and secure rare, hard-to-find or difficult to legally obtain Cannabis seed types and varieties.
In that regard, CannBerry intends to apply unique proprietary technological tools developed by its management to monitor Cannabis under sterile conditions in a fully controlled environment. During the second phase, CannBerry intends to form unique Active Pharmaceutical Ingredient formulations to develop specific Cannabis-based products for the Medical Cannabis industry. An Active Pharmaceutical Ingredient is any substance or mixture of substances intended to be used in the manufacture of a drug (medicinal) product and that, when used in the production of a drug, becomes an active ingredient of the drug product. Such substances are intended to furnish pharmacological activity or other direct effect in the diagnosis, cure, mitigation, treatment, or prevention of disease or to affect the structure or function of the body. CannBerry’s mission is to become a leading supplier of superior genetics as well as Active Pharmaceutical Ingredients to the Cannabis industry. In order to reinforce its Product varieties and R & D capabilities, CannBerry intends to leverage its close relationships with leading Cannabis Research Centers to establish R & D Joint Ventures including but not limited to the Agricultural Research Organization – Volcani Center (http://www.moag.gov.il/en/About%20the%20Ministry/ministry_sites/Pages/agricultural_research_organization.aspx), Weizmann Institute of Science (https://www.weizmann.ac.il/pages/), Hebrew University Agriculture Faculty (https://en.hafakulta.agri.huji.ac.il/) and Technion’s Faculty of Medicine – Bruce Rappaport Faculty of Medicine (https://md.technion.ac.il/about/) and Tel Aviv University Agricultural Research Center.
Potential sources of income from the development of proprietary strains are (1) licensing of premium genetic strains (2) wholesale seed sales (3) clone fulfillment services (4) custom breeding programs and (5) tissue culture and strain patenting services.
Dan Oran, CEO of PSIQ stated, “By protecting the intellectual property associated with the genetics to be developed by CannBerry, PSIQ is positioning itself as a leader in the medical and recreational Cannabis markets. The strategy to breed innovative plants that encase the experience and flavor profiles into bud, oil, shatter and ingredients in branded products is what consumers demand and will make PSIQ unique & different. This breeding program is intended to be a revenue generator for PSIQ by offering strain development to cultivators around the world through the licensing of proprietary strains.”
ABOUT CANNBERRY TEK, INC. MANAGEMENT TEAM
Niv Yonani Founder, CEO
Over 20 years of experience, bringing vast experience in different disciplines as well as many years as senior management and business development. Niv is involved in initiating and executing development projects related to cannabis aspects specifically plant genetic and physiology. In addition, during recent years Niv was involved in several multinational projects related to Bio pesticides, technology development, medical device and more.
Previously, Niv founded a seed technology company, SaliCrop (https://www.salicrop.com/), that developed a unique procedure to be applied on seed stage in order to impose high tolerance for different a-biotic stress conditions such as high salinity levels.
Niv also served in several senior management positions such as VP R&D of IlanBio (http://ilanbio.com/), a leading cannabis startup company in the field of tissue culture, he also served as Director of intellectual property at Syngenta (https://www.syngenta.com/), a global agro-technology leader.
Niv holds a B.SC. in Agronomy from the Faculty of Agriculture Food and Environment science, the Hebrew University of Jerusalem, he also holds a diploma for computer software programming from Sela university (joint program executed with Amdocs Ltd.).
Hanoch Tempelhof, COO
Over 30 years in general management and international marketing. Leading large-scale R&D projects, worldwide marketing and sales in Defense, Homeland security and commercial sectors, and entrepreneurship. Hanoch formerly served for over 10 years as VP Business Development for Tadiran Defense Communication which was acquired by Elbit Systems (http://elbitsystems.com/ ), an Israeli based, Defense Contractor.
Mr. Tempelhof holds a B.SC E.E (Magna Cum Laude) in Electronic Engineering, MBA (Cum Laude) Marketing & Finance and LLB (Commercial Law).
ABOUT PROFILE SOLUTIONS, INC.:
Profile Solutions, Inc., through its subsidiary Elite Products International, Inc., is a leading distributor and manufacturer in the cannabinoid (CBD) industry. The Company's products contain cutting-edge CBD industrial hemp extracts in the form of edibles, creams, oils, salves and others. Financial information can be found at www.otcmarkets.com/stock/PSIQ/profile. Please visit the Company website at www.profilesolutionsinc.com, Subsidiary at www.elitehempproducts.com Facebook at www.facebook.com/EliteProductsINTL/, Instagram at www.instagram.com/elite_hemp/, LinkedIn at www.linkedin.com/in/elite-hemp-products-3a863914a/, Twitter at www.twitter.com/Elitehemp_intl and Blog at www.elitehempproducts.com/blog.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
FOR INFORMATION, PLEASE CONTACT:
Dan Oran, President
Profile Solutions, Inc.
8411 West Oakland Park Blvd.
Sunrise, FL 33351