TEL AVIV, Israel, Sept. 17, 2018 /PRNewswire/ -- iCAN: Israel-Cannabis has successfully closed an additional funding round in the form of a Convertible Loan Agreement (CLA), increasing iCAN's valuation to $15m.
Broadening iCAN's already global shareholder base, participants in this fundraising round include TheraCann (Canada), Panther Capital (USA), Canalis Capital (Panama) and Ananda Developments (UK).
The funding will be used to expand iCAN's premier CannaTech Symposium to four major global events per year, with Sydney, Hong Kong and Panama secured in the next 6 months. The funding will also be used to expand iCAN's services and incubator units and continue to ensure iCAN's position as the global leader in medical cannabis technology and expertise.
In addition, Saul Kaye, founder and CEO of iCAN announced the formation of its new Board of Directors, which includes the highest caliber medical cannabis investors and industry titans. They are:
Dr. Robin E. Ely: Dr. Ely was involved in the ground-breaking research for Gaucher's Disease and founded the National Gaucher Foundation serving as President and Medical Director for many years, and now serving as clinical director for diagnostic initiatives. She subsequently founded the Center for Integrative Medicine combining standard western allopathic and multiple alternative approaches for healing complex conditions. Dr. Ely's center now includes medical cannabis patients. Dr.Ely is a founder investor in iCAN and acts as chief advisor in all clinical and medical matters related to iCAN and its subsidiaries endoCRO and CannaTech.
Lorne Gertner: Mr. Gertner is a serial entrepreneur with experience in start-ups, IPOs, fashion, retail, architecture, real estate, finance and the emerging cannabis industry. Mr. Gertner is the Founder and CEO of Midori Capital, co-founder and former chairman of PharmaCan Capital Corporation (MMJ.V), Cofounder of Tokyo Smoke, CEO and Chairman of HG2 Capital Corp., an Investment/merchant bank in the cannabis sector.
Dr. Ramie Tritt: Ramie A. Tritt, MD is a serial entrepreneur with experience in multiple industries: cannabis, healthcare, fashion accessories, on line digital marketing and real estate. Having been involved in start-ups and IPOs for 30+ years, Dr. Tritt co-founded and is the managing member of TL Partners since 2015. TL Partners, LLC, is a private investment group, based in Atlanta, GA, which has raised over $2 million dollars for investments in early stage cannabis companies involved in providing ancillary services and products in the cannabis industry. Dr. Tritt also co-founded and is managing principal of Panther Opportunity Fund since early 2017, which to date has raised millions of dollars and invested in later stage cannabis companies who are seeking expansion capital and have demonstrated market viability with a unique selling proposition.
Raymond David Harari: Raymond D. Harari is the founder of Canalis Capital, a cannabis advisory company and merchant bank based in Panama. Prior, Mr. Harari worked at Credicorp Bank in the Private Banking division. Before joining Credicorp, he was part of Nomura's Investment Banking Group based in New York City. Mr. Harari is an angel investor and active across various industries, including cannabis, fashion, biotech and cyber security.
Saul Kaye, who will remain Chairperson of the Board said, "The formation of this Board of Directors, with their unsurpassed level of medical and financial expertise, is testament to the faith each and every one of them puts in the booming medical cannabis market to help millions of patients around the world and the belief that iCAN is an integral player in the burgeoning cannabis ecosystem. I am thrilled to welcome them onboard and look forward to our exciting work together building a global cannabis industry."
Lorne Gertner, newly appointed Board member said: "I have watched iCAN grow into a global events and services powerhouse and I am thrilled to join these distinguished Board members and Saul and work together to make the world a better place through cannabis and design excellence."
About iCAN: Israel-Cannabis
iCAN is building the global cannabis ecosystem. iCAN identifies and accelerates innovative medical cannabis technologies and creates synergies and cooperation across the industry. iCAN uses its global network and reach to position Israel as the leading medical cannabis tech hub.
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