Barneys Pharm, one of the world's most famous cannabis seeds company, today signed an agreement worth 1.8 million with Medivie Israel. The two will cooperate in growing medical cannabis at a farm that will soon be established in a kibbutz in the Sharon region.
The Netherlands' oldest cannabis seeds companyBarneys Farm'(Barney's Farm), Which has been operating in Europe since the 80, is entering the medical cannabis market in Israel.
Barneys, which since 1992 also holds At Coffee Shop Will succeed in the global cannabis capital, and will share the arsenal of genetics of their well-known cannabis varieties - which have won dozens of prizes in international competitions -with Medivie'(Medivie).
updating (16.9): Barneys announced the cancellation of the transaction (Details here).
Medivie, a public company recently acquired by the developer Menachem Cohen, Developed a birth bites that help women to relieve stress and migraines during childbirth but failed to lift. Mediway's 75 is sold to Cohen, who previously worked in the sheltered housing sector and is now chairman and CEO of the company.
Over the past few weeks, 51 has acquired 14% of a new medical cannabis company that was founded by a kibbutz in the Sharon region. Control of the new company, which already holds four primary dealers' numbers from the Ministry of Health - for the cultivation, breeding, production and storage of medical cannabis, was transferred to XNUMX for NIS 1 million.
Medivie will manage the new company (whose name is still classified) and will set up its production chain on an area of 10 acres that it received from the kibbutz for 24 years. Together with Barneys, the new company intends to grow, sell and export cannabis and its products to Israel and the world.
A local plant, located on an area of 7.5 and formerly used by the kibbutz for the production of food additives, will be converted into a medical cannabis plant that will comply with the new GMP standards in accordance with the provisions of the reform. Dr Asher Holzer, A nuclear physics researcher from the Hebrew University, will serve on the board of directors of the new company, where a representative of Barneys will be retained.
After the company's share price jumped tens of percent following the chain of transactions over the past few weeks, Mediwi announced today that the value of the new medical cannabis company after the signing of its cooperation with Barnise is 50 million.
"This is a world-renowned company in the field of cannabis," the capital market announcement said. "The company is considered one of the world's leading manufacturers of quality seeds and genetics of cannabis, has a global reputation and has won dozens of awards in its field."
Pursuant to the agreement, in a total amount of 1.8 million, Barneys 710,243 will receive ordinary shares of the Company without par value. "The allocation was made according to the Company's market value calculation of 50 million after money," the company said.
The agreement stipulates that the new company will be able to use Barney's logo and trademarks for all the products it will develop in the future. "The company regards the investment agreement as a strategic agreement that will assist it in promoting its activity and developing its products," it said. "Using the Barney's Farm brand and the logo it owns will help the company significantly in promoting and marketing sales of the company's products that will be developed in the future."
Medivie, now the second Israeli company traded on the stock exchange after the company, hopes to start selling products on a cannabis basis within a year.
in the weekend famous That the seed company Greenhouse Seed, considered one of the most successful in its field and famous for a popular series of docu-cannabis films, will cooperate with Canopy, the giant cannabis corporation from Canada, which is considered the largest cannabis company in the world. Kanofi has been cooperating for some time with another well known seed company, DNA Genetics.