West Virginia regulators have announced the start of the state’s medical cannabis business licensing process, an important step toward implementing the program, which was slated to launch this past July.

Businesses seeking cultivation, processing, distribution and laboratory licenses can apply with the West Virginia Office of Medical Cannabis starting Dec. 19, according to a Charleston Gazette-Mail report. The application window will stay open for 60 days before regulators issue licenses, the news outlet reported.

Legislation approved in 2017 legalized medical cannabis in West Virginia and set a July 1, 2019 start date for the program, but state officials continued wrestling with a banking solution over the summer, delaying the start of sales.

The state has made strides to solve its banking problem, however, as Treasurer John Perdue recently awarded a banking contract to Element Federal Credit Union in South Charleston to handle the funds associated with the medical cannabis industry, Charleston Gazette-Mail reported.

West Virginia Office of Medical Cannabis Director Jason Frame told the Charleston Gazette-Mail in an August interview that he is aiming for patients to be able to access medical cannabis before the summer of 2021.

Ashkelon, November 14, 2019 – PRESS RELEASE – Univo, a company which owns a plant producing medical cannabis products under the new regulation of the Ministry of Health, to IMC-GMP standard, as well as a cultivation farm for medical cannabis under construction, reports a strategic agreement with the pharmacy Shor Tabachnik, which already currently supplies medical cannabis products.

As part of the agreement, Univo will supply 2 tons of medical cannabis products each year starting from the coming days, for 3 years. According to medical cannabis prices sold today in pharmacies, this agreement could generate revenues of over ILS 20 million in the coming year and over ILS 60 million in the next three years. It was also agreed between the parties that each party may cancel the agreement by a 90-day advance notice to the other party. This agreement joins an agreement for the supply of up to 1 ton of medical cannabis products to the pharmacy Max Pharm in Holon, which currently supplies medical cannabis products. Holon is one of the 10 largest cities in Israel with more than 200,000 residents, and borders the cities Tel Aviv, Bat Yam and Rishon Lezion.

Golan Bitton, CEO of Univo: “The agreement with Shor Tabachnik, which takes immediate effect, realizes Univo’s strategy to strengthen our presence in the market and expand our distribution chain, whether through agreements with pharmacies or through the acquisition of a pharmacy which we reported this week. Univo is currently operating independently of other entities, and until cultivation begins at Amit Farm, we are buying raw materials from existing farms. The company has already begun production and sale of medical cannabis products under the new regulation.”

Univo aims for full control of the value chain. Univo’s ability to determine the type, quality and scope of the cultivation, and in addition to produce products for a range of necessary medical indications and administration methods, as well as personally reaching the specific patient who takes medical cannabis and receiving direct feedback, positions us as the only company in Israel that holds full control throughout the value chain, from the planting, cultivation, production, distribution and sale at the pharmacy. This control allows maximization of the profit from the sale of each gram of medical cannabis and the saving of unnecessary costs, thus creating an exceptional competitive edge, including development of products that are based on a database of the patients who visit the pharmacies.

In recent weeks, the company reported an investment of ILS 12 million by the Avisror Group – ILS 6 million in Amit Farm where Univo will grow a significant quantity of medical cannabis, and ILS 6 million for investment in Univo according to a share price of ILS 4.89, a 52% premium on the share price, as closed on the trading day prior to the report, and in consideration for 0.5 million stock options. The investment in Univo reflects a post-money value of around ILS 130 million.

Amit Farm is a medical cannabis cultivation farm owned by the company, which is in advanced stages of construction. The farm is intended to secure for Univo independent cultivation of medical cannabis, such that the company will operate from production and marketing, from seed to product, to GMP standard, to distribution of the products through pharmacies to patients.

Alongside the business operations in Israel, Univo is exploring markets outside of Israel, and is preparing for export, in due course, including through preparations for obtaining EU-GMP certification for the plant with the aim of supplying products to customers with which sale and distribution contracts have been signed. To the best of the company’s knowledge, when permission is granted to export medical cannabis products from the State of Israel, according to the instructions of the IMCA, it will only be possible to export medical cannabis products that were produced in GMP-certified plants, which the company holds.

Univo has an active R&D center and is the only cannabis company that has signed a development agreement with Veoli from “Sanara” (Teva and Philips) for the development of a unique formulation for the Veoli inhaler.

Univo’s plant spans an area of 750 sqm and includes an R&D laboratory and special production systems. Univo’s cultivation area extends over several thousand sqm in the south of Israel, such that through production and distribution costs in Israel, which are low relative to the rest of the world, the company expects to maintain maximum value between production and sale. Univo is one of the world’s only medical cannabis companies which manages development from planting, cultivation, production to the supply of medical cannabis products (from seed to market) and distribution through pharmacies.

Tel Aviv, Israel & Vancouver, WA, USA, Nov. 19, 2019 - PRESS RELEASE - Hawthorne Gardening Co., a distributor of hydroponic products, has signed an agreement with iCAN, an international cannabis business and scientific services firm based in Israel, a division of Israel-Cannabis.

Hawthorne, a unit of the Ohio-based multinational corporation Scotts Miracle-Gro, is eager to capitalize on the burgeoning world-wide cannabis market which will demand first-in-class hydroponic products including lighting, nutrients, growing environment, growing media, hardware and more.

“With iCAN’s global-reaching CannaTech platform, market intelligence and decision-maker network, it was easy for Hawthorne to partner with iCAN. Together we will enable cultivators with the best guidance and tools in the regions where the cannabis industry is headed. Most notably this year, regions of Africa,” said Mike Carbonara, head of sales.

iCANServe provides management and R&D services to help cannabis companies succeed in the rapidly evolving global cannabis industry.

“iCAN is honoured by Hawthorne’s vote of confidence and with their well-earned stellar reputation in the market, we expect Hawthorne to advance the goals of many cultivators outside North America, beginning with Africa. Come meet iCAN and Hawthorne at CannaTech in Cape Town later this month!” said Saul Kaye, founder of iCAN: Israel Cannabis.

Hawthorne will take part in CannaTech, an international cannabis innovation summit taking place on Nov. 24 – 26 in Cape Town, South Africa. Hundreds of businesspeople, agritech experts and scientists from numerous African nations and beyond will unite to understand the potential of the cannabis industry on the continent.

OXNARD, Calif., Nov. 19, 2019 (GLOBE NEWSWIRE) -- PRESS RELEASE -- CURE Pharmaceutical, a drug delivery and development company, has announced that it has named John K. Bell, FCA, FCPA, ICD.D to its board of directors. Bell brings more than 40 years of experience to the company, most recently serving as chairman of the Canopy Rivers board of directors and former chairman of Canopy Growth’s board of directors.

“John’s unparalleled depth and breadth of expertise makes him an invaluable asset to our growth strategy,” said Rob Davidson, CEO of CURE Pharmaceutical. “His impressive array of experience supports every aspect of our business, including pharmaceutical, manufacturing, financial and cannabis.”

Bell is a managing partner at Onbelay Capital Inc., a private equity and investment firm based in Cambridge, Canada. He has sat on a number of public boards, most recently with DelMar Pharmaceuticals, which develops new treatments for cancer. He also was the founder and CEO of Shred-Tech, Inc., a leader in the mobile shredding industry. He was the owner and CEO of Polymer Technologies Inc., a global manufacturer of auto parts. He has served as chairman and principal shareholder of fleet management company BSM Technologies Inc. (TSX-V) and was CEO and director of ATS Automation (TSX) and its 24 global manufacturing facilities.

“Safe and reliable delivery systems for cannabinoid molecules and related products are still in the early stages and CURE has the opportunity to maintain its global leadership in the industry due to its proprietary technologies, excellent research capabilities and strong management,” said Bell. “It is a tremendous opportunity to be part of this exceptionally talented team that is changing the future of medicine.”

Bell is also a philanthropist who has contributed to and provided leadership for numerous organizations including Cambridge Memorial Hospital, Waterloo Regional Police, Waterloo Region Prosperity Council, and Crohn’s and Colitis Canada and the Stratford festival.