Connect with us

Business

OrganiGram Holdings Inc (NASDAQ:OGI) Agrees To Supply Indoor-Grown And High-Quality Dried Cannabis To InterCure Ltd (OTCMKTS:IRCLF)’s Subsidiary – Canndoc Ltd

Published

on

OrganiGram Inc, a subsidiary of OrganiGram Holdings Inc (NASDAQ:OGI), entered a pact to provide high quality dried cannabis flowers to Canndoc Ltd, a subsidiary of InterCure Ltd (OTCMKTS:IRCLF).

Organigram to supply 3,000 kgs of dried flower

As per the terms of the multi-year deal, Organigram agreed to ensure a guaranteed supply of 3,000 kg of dried cannabis flower to Canndoc on or before December 31, 2021. Canndoc will process cannabis flowers and distribute the products to satisfy the demand for medical use in Israel. The company will also have an option to procure an additional 3,000 kg of flowers from Organigram.

Pricing of the flower depends on product mix and potency

Organigram will receive payment for dried flowers based on the product mix and potency. The company will also have an option to introduce its branded products in the EU and Israel markets under this agreement with Canndoc for 7.5 years. However, the product launch is subject to the Ministry of Health’s approval in Israel, Health Canada, and other relevant regulatory frameworks.

CEO of Organigram, Greg Engel, said it is necessary to find world-class and strong partners to achieve success in the global cannabis markets. He said Canndoc is an ideal partner who can produce high-quality products and serve the patients across the world.

The ongoing clinical research in cannabis and the introduction of innovative products helped Israel become a global leader. Medical use of cannabis is already legalized in Israel in 1973. However, the Israel government approved export of medical use of cannabis products in January 2019. Canndoc is expanding its wings in the domestic market to cash in on this niche. It is also eyeing export opportunities to boost earnings.

Chairman of Canndoc, Ehud Barak, said the company is proud and pleased to work with Organigram to serve patients with better treatment options and improve their quality of life. The company also targets to help patients in other nations with high-quality medical cannabis products.

Engel said the alliance with Canndoc helps the company serve patients in major international markets. The company already supplies medical cannabis to the Australian market.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.

FEATURED STORIES

Business1 day ago

Business intelligence from Akerna Corp (NASDAQ:KERN) Says Liquor Sales are Up 10% Year-over-Year

Post Views: 338 Liquor sales are up 10% year-over-year according to business intelligence from Akerna Corp (NASDAQ:KERN). Red wine took...

Business1 day ago

Pyxis Tankers Inc. (NASDAQ:PXS) Announce Q1 2020 Financial Results Amid COVID-19 Uncertainties

Post Views: 179 Pyxis tankers Inc. (NASDAQ:PXS) has announced its unaudited financial results for the quarter that ended March 31,...

Business1 day ago

Innovative Industrial Properties Inc (NYSE:IIPR) Enters Into a Lease Amendment Agreement with Green Leaf

Post Views: 197 With pot being legalized in many countries, the market is likely to get even bigger. As a...

Business1 day ago

Liberty Leaf Holdings Ltd (OTCMKTS:LIBFD) Takes Over Nova Mentis Biotech Corp And Add Synergies To Its Cannabis Assets In The Wellness And Health Sector

Post Views: 203 Liberty Leaf Holdings Ltd (OTCMKTS:LIBFD) gained access to the psilocybin by acquiring Nova Mentis Biotech Corp. The...

Business2 days ago

Aleafia Health Inc (OTCMKTS:ALEAF) Begins Cultivation At Its Entire Niagara Facility And Provides Consistent Supplies for Health: Settles Disputes With Aphria

Post Views: 321 Aleafia Health Inc (OTCMKTS:ALEAF) will commence cultivation operations at its whole Niagara facility. It obtained a license...

Business2 days ago

Pure Capital Calls For Shareholders Meeting of Therapix Biosciences Ltd (NASDAQ:TRPX): Demands For Dismissal Of Board Members

Post Views: 253 Pure Capital called for an emergency meeting of investors of Therapix Biosciences Ltd (NASDAQ:TRPX) to discuss actions...