NEW YORK, April 14, 2014 /PRNewswire/ --
BreedIT Corp (OTC: BRDT)("BreedIT" or the "Company"), 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 that the Company alongside its partner and cannabis grower, Sheifa Le'Haim, completed the structuring of the Cannabis Breeding Program, the first step in the implementation of its partnership to breed and own unique and hybrid cannabis seeds utilizing its iBreedIT® - the Intelligent Decision Support System (IDSS) for breeders.
BreedIT's Chief Scientist, Prof. Haim Rabinowitch, worked with Dr. Barry Nadel, an experienced cannabis grower and breeder, who is leading the breeding work at Sheifa Le'Haim to determine the best and most efficient breeding strategies. Together, Prof. Rabinowitch and Dr. Nadel built the breeding program, based on the current cannabis lines owned by Sheifa Le'Haim. Dr. Oded Sagee, CEO of BreedIT Israel, reported this milestone to the Company's Board of Directors in a board meeting that took place on April 10th, 2014.
Mr. Hagai Hillman, owner of Sheifa Le'Haim, expressed his excitement, stating that new Cannabis varieties, with specific cannabinoids profile, will be the consistent goal and outcome of project this year and in the coming years.
Itschak Shrem, Chairman of BreedIT Corp, stated, "The JV working towards the goals - the development, ownership and ability to profit over unique cannabis seeds. The development and completion of the structuring of the breeding program in such a timely and efficient manner gives us even greater confidence that this partnership will be a success."
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 2010, BreedIT Corp has offices in New York, New York and in Rehovot, Israel.
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. Factors that could cause actual results to differ materially from those that we may anticipate in our subsidiary's operations include, among others: our ability to commercially exploit our IDSS Software and the related technology; our ability to successfully enter into joint ventures with third parties that prove profitable; our ability to compete in what we anticipate to be a rapidly growing industry of agro-breeding; our ability to continue to raise adequate financing in a timely manner at acceptable terms; and our ability to successfully prosecute and protect our intellectual property.
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-Ks, 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.
SOURCE BreedIT Corp