- Isracann (IPOT) has signed a letter of intent to import cannabis from a major Israeli manufacturer
- For commercial reasons, Isracann cannot identify its manufacturing partner at this time
- Imported goods will be sold under the Isracann brand
- Isracann is an Israeli-based cannabis company focused on low-cost production targeting major European marketplaces
- Isracann Biosciences (IPOT) is up 1.39 per cent and is currently trading at C$0.365 per share
Isracann (IPOT) has signed a letter of intent to import cannabis from a major Israeli manufacturer.
For commercial reasons, Isracann cannot identify its manufacturing partner at this time.
Imported goods will consist of premium Canadian cannabis via Isracann’s agreement with Costa Canna Group’s cultivation subsidiary, United Greeneries, to be sold under the Isracann brand.
The importance of imported sales through Isracann include immediate revenue generation, introduction of new brands to the Israeli market, and the ability to trial Isracann’s processing facilities and domestic distribution arrangements.
Darryl Jones, Isracann’s CEO, stated,
“The agreement in-place is straightforward and is a win-win for both parties. The inexorable growth in demand for medical cannabis products combined with the potential recreational and export market scenarios means that the serious operators are making decisions right now as to how they will manage demand stressors in the future.”
Isracann is an Israeli-based cannabis company focused on low-cost production targeting major European marketplaces. The company has secured agreements within Israel for medicinal marijuana cultivation.
Isracann Biosciences (IPOT) is up 1.39 per cent and is currently trading at C$0.365 per share as of 9:37 am EST.