Cannabis Weekly Round-Up: Israeli Market Gets Canadian Supply


The Israeli cannabis market is picking up with a new supply deal from a Canadian producer.

Also this week, new data showed sales of Canadian cannabis edible products may be stalling.

Keep reading to find out more cannabis highlights from the past five days.

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Aurora will supply Israeli medical cannabis company

Aurora Cannabis (NYSE:

ACB

,TSX:ACB)

signed a supply deal

with Cantek Holdings for the next two years for a minimum of 4,000 kilograms of dried flower per year. Aurora sent its first shipment to Israel during the week of November 16.

“This Agreement provides Aurora with a great opportunity to expand our medical cannabis brand and industry leading science in one of our key international markets of focus,” said

Miguel Martin

, CEO of Aurora.


Netsah Israel

, CEO of Cantek, said the agreement represents a vote confidence both for his firm and the Israeli cannabis market as a whole.

Canadian edibles facing lag in sales

New data shows edibles in the Canadian cannabis market are not selling as well as producers would like.

In a report

, Marijuana Business Daily indicates that provincial distributors and retailers had nearly 10 million units of various products in stock in August. Meanwhile, sales for the same month reached just 1.42 million products. From these edible products, the much-touted cannabis drinks are also included.

“August sales growth of edibles cannabis products was the lowest since the products started hitting the market in late 2019,” the report states.

Cannabis company news


  • The Valens Company (TSX:

    VLNS

    ,OTCQX:VLNCF)

    secured an amendment

    to its Health Canada permit for processing cannabis so it can begin manufacturing and processing at its new 42,000 square foot facility in

    Kelowna, BC.


  • Village Farms International (NASDAQ:

    VFF


    ,TSX:VFF)

    told investors

    its subsidiary cannabis producer Pure Sunfarms obtained a research license for the sensory evaluation of cannabis in trials. Additionally, the company’s products will be featured in a CBD-infused gift set set to be sold in

    Hong Kong.


  • PharmaCielo (TSXV:

    PCLO

    ,OTCQX:PCLOF)

    announced the closure

    of a C$10 million private placement as the company added longtime cannabis investor and executive Marc Lusting to its board of directors.


  • Gage Cannabis

    plans to

    hit the public markets

    early in 2021. The Michigan-focused cannabis firm backed by Bruce Linton has announced an equity financing deal for investors.


Don’t forget to follow us

@INN_Cannabis

for real-time updates!


Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

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