A new strong player is emerging in the Israeli cannabis industry Yo Nibu Reports that the Cannabis Medical Farm with which it is a signatory is the first of the new companies to receive a permit to grow cannabis for marketing purposes under the upcoming reform.
As we know, they have only been licensed to grow cannabis in Israel 8 COMPANIES Has been active in Israel for a decade and provides medical cannabis to patients, as well Two companies Privacy that holds it for research purposes only.
YNIBO, which is traded on the stock exchange valued at more than 80 million, officially reports this morning that the farm with which it has signed a cooperation agreement for 3 years has received the official permit to operate a growing and processing plant for inflorescences and plants.
The farm, called Derech LeChaim, is located in the northern Sharon region. The first round of Cannabis plants has begun, which will enable it to obtain final approval for IMC-GAP compliance with appropriate cannabis growth conditions and accordingly begin growing and producing cannabis for pharmacies.
In addition to Yu Nibu, Derech Le'aim, which is owned by soccer player Gili Vermut and his wife Iris Vermot, is also signed with other cannabis plants such as Basalt, and hopes to supply products to a variety of other companies later on.
Yu Nibu is also working to complete the construction of the Cannabis plant in Ashkelon, which may be the fourth in Israel to receive the IMC-GMP standard for the production of medical cannabis products. It is also signed with a chain of pharmacies that provides medical cannabis transport services to patients' homes.
In addition, Yu Nibu announced that it has signed an agreement that will allow it to use the inhaler developed by Veolia, a company owned by Teva and Phillipis, to allow measured and accurate consumption of medical cannabis without the need for heating, evaporation or fire.
Yibo's founder and CEO Golan Biton holds most of the company's shares (27%). The first growth license was granted to the Company for a pilot period, up to 30.8.19.
The medical cannabis reform (Medicinalization) is due to take effect next week (1.4.19), if the petition is rejected Which will be submitted this week To the High Court demanding that she be arrested.