Israel’s cannabis industry has a long history of innovation and revolutionary research, and that history will be the country’s biggest advantage in the emerging international cannabis market.
Medical cannabis users in legal jurisdictions everywhere owe a lot more to the nation of Israel than many realize. The country has very quietly been a world-leading hub of medical cannabis industry research and development (R&D) long before Canada stole the show by legalizing the plant for recreational use.
While the United States is still putting arduous restraints on even the study of cannabis, effectively keeping it out of the hands of researchers, Israel has been embracing cannabis research for decades. It is thanks to the work of Israeli cannabis researchers that the plant has gained the legitimacy necessary for legalization in Canada, numerous US states and elsewhere.
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Now, with recreational cannabis legal in Canada and medical cannabis legal in a growing number of countries and states, Israel is set to become a global leader in the cannabis business.
Israel’s unprecedented readiness for a global wave of cannabis legalization is paying off in foreign investment in its cannabis sector. A growing number of American companies and investors in particular are seeing advantages in Israel not found in their domestic market. In 2016 alone, more than US$250 million was invested in Israeli cannabis companies, with funds coming primarily from North America. North American cannabis companies are increasingly establishing R&D in Israel, with at least 15 US companies now conducting R&D in the country. One reason for American and Canadian interest in Israel is the country’s few barriers to cannabis research and business compared to the US. While several states that have legalized the product, cannabis is still viewed as a schedule one drug at the federal level.
Israel’s cannabis industry history and culture
Israel is a cannabis-friendly country with an established cannabis culture that goes back decades. While non-medical cannabis remains illegal in Israel as of now, support for legalization is widespread and bipartisan. In March 2018, the Israeli parliament unanimously passed decriminalization legislation that significantly reduced the penalties for cannabis use, an event that was largely seen as a step in the direction towards legalization. Israel’s Anti-Drug Authority suggests that as many as 27 percent of Israeli adults have used cannabis, which gives the country the highest proportion of cannabis users in the world. The country is home to 30,000 registered medical users, using approximately 14 tons of cannabis each year.
Israel’s comparative acceptance of cannabis could be seen as a result of the country’s greater understanding of the plant and its effects, which comes from being one of the very few countries that has been willing to allow comprehensive unbiased study of cannabis. In the early 1960s, while the United States and other western nations effectively prohibited researchers from taking any sort of serious look at cannabis, Israeli researchers were allowed access to the plant.
In 1964, Dr. Raphael Mechoulam of the Hebrew University of Jerusalem set the stage for the discovery of cannabis’ medical potential. His team was the first to isolate THC and later identified the endocannabinoid system, discovering the means in which cannabinoids work with the human body. Israel would continue this research over the following decades while other countries disregarded cannabis as having no medical value. In 1996, Israel was the first country to develop a national program focused on medical marijuana, and it wasn’t long after that the nation turned into one of the first countries to allow medical use of cannabis. Israel quickly became the world’s prime destination for medical cannabis R&D as result of the open regulatory environment.
As medicinal cannabis is increasingly accepted around the globe, this leadership trend continues for Israel.
Israeli medical cannabis industry
Israel has a reputation for fostering a favorable ecosystem for startups. Strong support from the state through public and private partnerships, grants, as well as tax breaks have made the country a hotbed of innovation complete with one of the deepest talent pools in the world. This innovation has long been apparent in agri-tech and life sciences, fields that are naturally compatible with medical cannabis production. Israel has the favorable regulatory climate, talent and experience in cannabis research and production to build a world-class industry. Various forms of startup support from the government and a speedy permitting process with few roadblocks make Israel very attractive to cannabis companies both foreign and domestic.
A recurring theme seen in jurisdictions legalizing cannabis medically and recreationally has been supply issues, as the industry struggles to keep up with demand. Enter Israel. The Israeli government has recognized the opportunity in becoming the world’s growhouse and has been working on legislation for the past year that will allow for the legal export of cannabis product to other legal medical cannabis countries. In November 2018, an Israeli government committee approved the first draft of the nation’s medical cannabis export law, a large step towards opening the global market up for Israeli cannabis. While the Israeli domestic cannabis market is worth US$150 million, the legal global market is expected to be larger than US$145 billion by 2025.
International interest in Israel’s cannabis industry
Israel’s cannabis industry is attracting interest from around the world and Canadian cannabis company Pharmadrug Inc. (CSE:BUZZ,OTC:LMLLF), formerly Aura Health, is taking advantage. The company has acquired 54 percent of HolyCanna Ltd., an Israeli company with a cultivation and sales license.
Aura has also entered into a binding letter of intent in with Israeli cannabis company CannabiSendak Ltd. to acquire a 57 percent interest in the company. CannabiSendak is a company with deep roots in the Israeli cannabis culture, having been founded by iconic Israeli cannabis activist Shlomi Sendak. With this acquisition, Aura plans to establish itself in the Israeli cannabis market with licensed medical dispensaries throughout the country.
American companies Cannabics Pharmaceuticals (OTCMKTS:CNBX) and World Cannabis Pharmaceuticals have also entered Israel to conduct R&D. Canadian company FSD Pharma (CSE:HUGE) also acquired Israeli company Therapix Biosciences ADR in October 2018.
Israel has been developing their medical cannabis industry for longer than any other country in the world. As the era of legalized cannabis dawns and spreads globally, Israel’s cannabis industry is preparing to become one of the premier global suppliers with the ability to produce high-quality and low-cost flower.
This article was written according to INN editorial standards to educate investors.
Ayurcann Holdings Corp. (CSE: AYUR) (the “Company” or “Ayurcann”) an integrated Canadian extraction company specializing in the processing of cannabis and hemp for the production of oils and various derivative products, announces the granting of stock options and restricted share units.
The Company has announced that it has granted incentive stock options to directors, officers, employees and consultants of the Company to purchase an aggregate of 1,000,100 common shares under the Company’s Stock Option Plan. Each option is exercisable at a price of $0.16 per common share, expires three years from the date of grant and vest six months from the date of the grant.
The Company has also granted restricted share unit grants, pursuant to the Company’s Restricted Share Unit plan, dated April 1, 2021, totaling 1,548,875 to certain eligible participants.
For further information, please contact:
Igal Sudman, Chairman, Chief Executive Officer and Corporate Secretary
Ayurcann Holdings Corp.
About Ayurcann Holdings Corp.:
Ayurcann is a leading post-harvest solution provider with a focus on providing and creating custom processes and pharma grade products for the adult use and medical cannabis industry in Canada. Ayurcann is focused on becoming the partner of choice for leading Canadian cannabis brands by providing best-in-class, proprietary services including ethanol extraction, formulation, product development and custom manufacturing.
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
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A planned business merger between two leading cannabis producers hit a small delay this week as a critical vote got moved.
Keep reading to find out more cannabis highlights from the past five days.
Tilray delays critical shareholder meeting
On Thursday (April 15), Tilray (NASDAQ:TLRY) announced it will be postponing its shareholder vote on the fate of its merger with Aphria (NASDAQ:APHA,TSX:APHA). It will take place on April 30 instead of April 16.
Neither cannabis company offered an explanation for the change. Tilray has asked shareholders to participate in this vote regardless of how many shares they may hold. “Tilray stockholders who have not already voted, or wish to change their vote, are strongly encouraged to do so,” the company said.
This news came days after Aphria shareholders overwhelmingly voted in favor of the business transaction, with a total of 99.38 percent of shareholders voting for the deal to continue. Confirmation from Aphria Chairman and CEO Irwin Simon indicated the partnership was en route to being complete.
This past week Aphria also released financial results for the third quarter of its 2021 fiscal year, in which the firm highlights the overall direction of the company with the Tilray deal.
“We expect to have a tremendous runway for long-term sustainable growth as we build upon our existing foundation in Canada and internationally by increasing the scale of our global operations,” Simon said in a statement.
Cannabis retailer celebrates digital trend
Bidding for the piece, named “Non-Fungible Toke“ started at a price of C$4.20. The retailer plans to donate the proceeds to two charities, Second Harvest and Less.
The latter is designed to counter the carbon footprint of blockchain technology, a common criticism drawn against the rise of NFTs and other novel technologies.
As of 11:00 a.m. EST on Friday (April 16), the NFT bid was up to C$169.11.
Cannabis company news
- The Valens Company (TSX:VLNS,OTCQX:VLNCF) issued its financial report for the first quarter of its 2021 fiscal year. In its results, the company highlights a net revenue uptick of 24.7 percent from the previous quarter, resulting in C$20 million for the period.
- Trulieve Cannabis (CSE:TRUL,OTCQX:TCNNF) closed a public offering of 5 million subordinate voting shares at a price of C$50 each for total gross proceeds of C$287.5 million. The company celebrated its financial position after an offering in January, which will lead to the pursuit of merger and acquisition targets.
- Australis Capital (CSE:AUSA,OTCQB:AUSAF) appointed Jason Dyck as its new chief science officer and chairman of the firm’s scientific advisory board. Dyck previously served as an executive at Aurora Cannabis (NASDAQ:ACB,TSX:ACB), leading the scientific efforts for the cannabis producer. “I look forward to providing AUSA with advice and direction in its scientific efforts towards bringing innovations to market with immediate and significant commercial appeal,” Dyck said.
- Truss Beverage, a cannabis drinks venture co-owned by Molson Coors Beverage Company (NYSE:TAP,TSX:TPX) and HEXO (NYSE:HEXO,TSX:HEXO), released the details of its new lineup of infused beverages. Six new drinks will become available around the summer and are intended to pair with the season.
Don’t forget to follow us @INN_Cannabis for real-time updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Partnerships with Minardi Law , Minorities for Medical Marijuana, CultivatED, and the Georgia Justice Project will include clinics and virtual events across Florida , Georgia , and Massachusetts
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today a series of expungment clinics located throughout south and central Florida as well as virtual events in Georgia and Massachusetts . The clinics are part of the Company’s celebration of the 50 th anniversary of 420.
During the month of April, Minardi Law has hosted expungment clinics and will be hosting two more as follows:
- Releaf Patient Appreciation Day, April 17 th ( Valrico )
- First Annual 4/20 Event ( St. Petersburg Beach )
At these clinics, an attorney will be present to review records and see if someone is eligible for a sealing or expungment of their records. As part of the events, Trulieve will be helping cover the costs for finger prints, legal fees, and court costs.
Trulieve is working with Minorities for Medical Marijuana (“M4MM”) to host a 4/20 Expungement Clinic, part of M4MM’s Project Clean Slate. This event will take place on Saturday, April 24, 2021 , from 9:30am – 4:30pm at Riviera Beach City Hall. Anyone seeking to take place in this event is required to register in advance at http://trulieve.cc/expungementpreregistration .
In addition, Trulieve is sponsoring the First Friday Series , a weekly virtual event from the Georgia Justice Project to help Georgia citizens with record restrictions, and is also sponsoring the Fellowship Presentation and Expungement Clinic being offered through CultivateEd and GBLS on Friday, April 23 from 3:00pm – 4:00pm . You can register for the Massachusetts expungement clinic in advance here: HTTPS://BIT.LY/2Q655KK
“Our mission as a company has always been to improve people’s lives,” said Trulieve CEO Kim Rivers . “We’ve always been dedicated to improving the communities we call home. Partnering with Minardi Law , Minorities for Medical Marijuana, Georgia Justice Project and CultivatED on these clinics was a simple decision for us; we encourage anyone seeking help with the expungement process to attend one of these clinics in your own state to start the process.”
For more information about Trulieve and the April expungment clinics, please visit www.Trulieve.com .
Trulieve is primarily a vertically integrated “seed-to-sale” company in the U.S. and is the first and largest fully licensed medical cannabis company in the State of Florida . Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout the State of Florida , as well as directly to patients via home delivery. Trulieve also has operations in California , Massachusetts , Connecticut and Pennsylvania. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF.
To learn more about Trulieve, visit www.Trulieve.com .
SOURCE Trulieve Cannabis Corp.
News Provided by PR Newswire via QuoteMedia
Seth Rogen’s New Cannabis Brand are Now Available at Apothecarium Dispensaries in San Francisco , Berkeley and Capitola
The Apothecarium is offering cannabis from Houseplant, the cannabis lifestyle brand founded by Seth Rogen and Evan Goldberg at its five California dispensaries. The Apothecarium has three San Francisco locations (Castro, SOMA and Marina ) and one each in Berkeley and Capitola (outside of Santa Cruz ).
“With the vast number of dispensaries in California , we put a lot of effort into identifying the right ones that align with Houseplant’s values,” said Seth Rogen , Co-Founder of Houseplant. “The Apothecarium shares the same commitment to creating a strong consumer experience that we pride ourselves on and we are thrilled to bring our three initial strains to their stores in the Bay Area.”
Houseplant is launching with three flower strains, all of which will be available at The Apothecarium, including: Diablo Wind (sativa), Pancake Ice (sativa) and Pink Moon (indica). Like their founder’s groundbreaking film “Pineapple Express”, Houseplant strains are named after weather phenomena. Each strain will be sold in a custom tin.
“We are so proud to be one of the very first dispensaries in California to offer Houseplant to our customers,” said Ryan Hudson , CEO and co-founder of The Apothecarium. “Seth, Evan and everyone at Houseplant love and respect cannabis as much as we do. We simply cannot wait to share their beautiful and delicious flowers with our guests.”
“We’ve been working with the Houseplant team for more than a year and are grateful to have a partner that shares so many of our values, including an emphasis on cannabis education, quality, reform of cannabis laws and beautifully designed, recyclable packaging.”
“Seth has been hands-on during the process, spending time with our store managers to make sure they know the products and how much care has gone into vetting and selecting the best strains. We think our guests are going to love Houseplant.”
About The Apothecarium
The Apothecarium is recognized as one of the nation’s premier cannabis dispensaries, with an emphasis on education via in-depth one-on-one consultations from highly trained cannabis consultants. The company was founded by three first cousins and two family friends in 2011. Our dispensaries are known for providing educational events that are open to the public at no cost — and for welcoming seniors, first-time dispensary visitors, and people with serious medical conditions. The Apothecarium’s flagship San Francisco dispensary was named the best-designed dispensary in the country by Architectural Digest . Patients and customers may order at our dispensaries or online for pickup or delivery at apothecarium.com [apothecarium.com] .
The Apothecarium is committed to giving back to the communities we serve. We have donated more than $400,000 in cash to community groups and nonprofits — plus more than $300,000 worth of in-kind donations.
All Apothecarium dispensaries continue to implement safety measures to protect guests and team members. Protocols include strict social distancing inside and outside the dispensaries, a mask requirement for everyone inside the dispensaries, no contact check-in procedures and ongoing sanitizing throughout the day.
CA Licenses: C10-0000523-LIC; C10-0000522-LIC; C10-0000515-LIC, C10-0000738-LIC, C10-0000706-LIC
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MISSISSAUGA, Ontario TheNewswire – April 16, 2021 Sire Bioscience Inc. (CSE:SIRE) (OTC:BLLXF) (FSE:BR1B) (CNSX:SIRE.CN) (“SIRE” or the “Company”) announces that Brian Nugent has resigned as a member of the Company’s board of directors (the “ Board ”). It has been a pleasure and a blessing to have worked with Brian Nugent over the past few years, his business acumen and tremendous experience will certainly be missed, SIRE wishes him nothing but the best in all his future endeavors.
About Sire Bioscience
SIRE is headquartered in Mississauga, Ontario with its wholly owned subsidiary PLANTFUEL® based in Denver, Colorado. SIRE is managed by a group of successful entrepreneurs who have extensive experience in the areas of consumer-packaged goods, manufacturing, logistics, and distribution. SIRE is a CPG life science company focused on the plant-based foods and supplements industry.
For additional information contact:
Sire Bioscience Inc.
Copyright (c) 2021 TheNewswire – All rights reserved.
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