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Report: Ehud Barak leaves the cannabis and returns to politics

Six months after he joined the cannabis industry and was appointed to head the company, Army Radio reports that former prime minister Ehud Barak is returning to politics and running for Labor Party leadership. The market.

Former Prime Minister Ehud Barak is returning to politics and running for Labor Party leadership in internal elections to be held shortly before the upcoming 2019 elections in September.

The significance of Barak's decision, if indeed the report on Army Radio is correct, is the departure of the cannabis company "Kandok", which he heads For the past six months And is traded on the stock exchange under the InterCure share with which it merged.

Following the report, the InterCure share plunged three and a half percent and continues to decline.

According to reports, if Barak wins the Labor Party, Barak is considering joining Tzipi Livni, who resigned from the "Zionist camp" party before the first 2019 elections.

Barak has been in the role of chairman of "Kendallk" since September and 2018 is employed in it part-time for 10,000 per month. In addition, he received options worth NIS 1 million.

Barak also brought with him famous investors, including the Swiss millionaire Gary Figel and the founder of WeWork Adam Neumann. The two invested together 11 million in the company.

At its peak, the InterCure share reached a value of 1.2 billion on the stock exchange, but since then it has been cut by almost half and is currently traded at a value of 659 million.

If Barak wins the Labor primaries, he will be the second consecutive head of the party, after Avi Gabbai, who supports full and absolute support for the legalization of cannabis in Israel.

In an interview with Cannabis magazine last month said Barak said it was time to approve legalization in Israel as well.

"I have no doubt that this is the time for regulation," he said. "It happens all over the world, in Canada, in Europe, it will happen within two to three years in the US, where a third of the countries have already arranged it. In the next few years it seems to be spreading. "

The Labor Party, for the first time in the 2019 elections, added legalization to the platform of the party and promised to advance the issue in the Knesset.

Cannabis fines

(Starting with 1 in April 2019)

Based on a figure revealed by Minister Erdan. Police refuse to reveal official figureDetails here)

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