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SOURCE BreedIT Corp
NEW YORK, February 11, 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 announced that the Company is focusing certain business development efforts on emerging medical Cannabis markets worldwide starting with an Israeli medical device maker.
Currently, BreedIT is in advanced negotiations with an Israeli company (customer) that is developing a new medical device for the medical Cannabis market. Under negotiations is the license for BreedIT's advanced Intelligent Decision Support System (IDSS) for optimizing the breeding of Cannabis varieties. The medical device maker is considering a purchase of BreedIT's licensed technology to help determine which Cannabis varieties are better suited for use with its new medical device. Also under consideration is the potential cooperation between the customer and BreedIT to utilize its IDSS to develop new varieties of medical Cannabis, with mutual ownership on the products.
*Note that BreedIT has not entered into any formal licensing or cooperation agreements with the aforementioned medical device maker as of the date of this press release. Any future licensing and cooperation agreements entered into by BreedIT will be announced publicly if approved by all parties and as required by law.
About BreedIT Corp
BreedIT Corp (OTC: BRDT), through its Israeli subsidiary, BreedIT Ltd., is the developer of highly sophisticated agro-breeding solutions for plant breeders and researchers. BreedIT's proven Intelligent Decision Support System (the "IDSS Software"), 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 letter contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain. 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/.
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