Israeli, Canadian cannabis producers enter into joint venture

 
An employee checks cannabis plants at a medical marijuana plantation in northern Israel March 21, 2017
(photo credit: REUTERS/NIR ELIAS)

Bezalet's line of products are part of the Israeli company's proprietary IP, noted for infusing cannabis extracts and dry materials with terpenes, a statement read.

A Canadian extract company specializing in processing of cannabis and hemp, Ayurcann Holdings Corp., announced on Tuesday that it entered a joint venture agreement to manufacture proprietary products with Israel-based licensed medical cannabis producer Bazelet Nehushtan Ltd.

Bezalet is one of the largest producers of medical cannabis in Israel, with multiple launches of terpene-enriched cannabis oils specialized to treat various ailments optimized for woman's health, elderly populations, muscle pains and sleep aids, among others.

Bezalet's line of products are part of the Israeli company's proprietary IP, noted for infusing cannabis extracts and dry materials with terpenes, a statement read.

“We are thrilled to secure this joint venture agreement which will enable us to introduce unique products into the Canadian marketplace,” said Ayurcann Chairman and CEO Igal Sudman. “Getting here has taken a tremendous amount of work, but we are excited for the possibilities presented by working with global companies.”

“We recently had the opportunity to get to know the leadership at Bazelet, and from that came a new partnership which may have a tremendous impact on both companies,” he said. “We can’t wait to capitalize on the proprietary products for the Canadian market.”

Ayurcann is poised to manufacture and distribute three separate products offered by the Israeli cannabis developer.

“This deal provides us with an opportunity to continuously introduce new and exciting products to the Canadian marketplace,” Sudman said.

“We are open to and continue to look for those mutually beneficial industry focused partnerships,” Sudman said. “By working together, the industry can grow to new heights in terms of quality and profitability.”

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