Cannabliss News
6 articles
growth-positive
Medical Cannabis Company Together Plans to List Subsidiary Cannabliss in North America
Together Pharma Ltd. is planning to list its wholly owned subsidiary, Cannabliss Ltd., on a North American stock exchange. The company is planning an initial public offering (IPO) at a company valuation of between $40 million and $50 million, with the roadshow scheduled for the first quarter of 2020. Cannabliss, which develops and manufactures smoke-free cannabis products, was acquired by Together in June for nearly $4 million. As part of the preparation for the IPO, Citrine Cannabis GP of the Citrine Investment Group and Israeli accelerator and services company iCAN: Israel-Cannabis will make a joint investment of $900,000 in Cannabliss.
Public TradingInvestment
growth-positive
Together buys medical cannabis co Cannabliss for NIS 14m
Together Pharma has acquired Cannabliss, a medical cannabis pioneer in Israel. The deal includes a cash payment of NIS 4 million and an allocation of 5% of Togethers shares worth about NIS 10 million, as well as options to buy 3% of Togethers shares. Cannabliss brings expertise in developing medical cannabis products and managing a factory. The acquisition is seen as a major strategic step for Together Pharma, positioning them as a leading company in the medical cannabis industry.
Acquisition
growth-positive
Israeli cabinet approves cannabis exports
Israels cabinet has approved the export of medical cannabis, allowing the country to compete in the rapidly growing market. The approval is expected to generate significant revenue for Israel, with previous estimates at NIS 4 billion. However, increased competition in the market has reduced the potential to NIS 1 billion. Israel has a unique advantage in the medical cannabis market due to its expertise in smart agriculture and medical product development. The country already has established companies in the field, including Tikun Olam and Pharmocann. The actual exports will begin after the formulation of rules, which is estimated to take 9-12 months. Additional regulatory work will also be required before exports can commence.
InvestmentExpand
growth-positive
Israel, a Medical Marijuana Pioneer, Is Eager to Capitalize (Published 2016)
Israels medical marijuana industry is growing and going mainstream, with the government taking steps to regulate and expand the industry. Recent reforms will make medical marijuana more accessible and available by prescription at pharmacies. The government is also considering allowing exports of medical marijuana. The Volcani Center is building a national institute for medical marijuana research, and the Ministry of Economy has invested in innovative marijuana companies. The Health Ministry, led by Yaakov Litzman, is spearheading the reforms, which have been approved by multiple government ministries. About 25,000 Israelis currently hold permits to use medical marijuana, and that number is expected to grow. Israel is becoming a major center for medical marijuana research and development.
InvestmentExpand
growth-positive
http://www.jpost.com/Business-and-Innovation/Health-and-Science/A-higher-authority-The-rabbinical-answer-to-medical-marijuana-470716
Vireo Health of New York, a medical marijuana company, has received kosher certification from the Orthodox Union (OU), one of the worlds largest and most respected kosher certification agencies. The company sought certification from the OU in order to serve the unique religious dietary needs of its patients. The certification process was routine and did not require any changes to the growing or manufacturing process. The OU has stated that it will not certify any company involved in recreational marijuana.
CustomersPartners
growth-positive
Crumbs of comfort: Cannabis cookies are kosher for Passover
Cannabliss, a company in Israel, is the sole supplier of medicinal marijuana products to the Sharett Institute of Oncology at the Hadassah-Hebrew University Medical Center. They have recently made their cannabis cookies kosher for Passover. Access to their products is granted through a licensing process, where a patients attending physician must request permission from the Health Ministry. Cannabliss offers an array of smoke-free products including creams, drops, and cookies. The company supplies Orthodox communities in Jerusalem and has now made their products kosher for Passover by using matzoh meal and potato flour. The cookies are said to be delicious and provide pain relief for up to 10 hours. The company has seen growth in its customer base, as there are currently 9,000 licensed users of therapeutic marijuana in Israel.
Customers
