JERUSALEM (Reuters) - Israel’s Together has agreed to sell 5 tons of cannabis oil to an unnamed Canadian company that will potentially bring revenue of hundreds of millions of shekels.
The Canadian company will buy from Together subsidiary Globus Pharma 50 tons of dried inflorescences of cannabis each year, which is equivalent to five tonnes of medical cannabis oil.
The two companies will also collaborate in the field of research and development and promoting technologies in the medical cannabis sector. They have estimated sales will amount to $3.17 to $4.7 per gram of inflorescence.
Investors have piled into cannabis stocks, such as Canadian producers Aurora and Canopy Growth, as many countries consider legalizing marijuana at least for medicinal purposes, such as a treatment for chronic pain, post-traumatic stress disorder, side effects from cancer therapy and other ailments.
