The Flowr Corporation Announces Export Agreement to Israel with Focus Medical Herbs and IM Cannabis

CANNANNEW REPORT

Flowr to export up to 500 kilograms of premium medical cannabis to Israel. The Supply Agreement represents the Company’s first export opportunity into an international market.   TORONTO, June 07, 2021 (GLOBE NEWSWIRE) — The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) (“Flowr” or the “Company”) is pleased to announce that it has entered into a supply agreement (“Supply Agreement”) with Focus Medical Herbs Ltd. (“Focus Medical”), a company which IM Cannabis Corp. (NASDAQ: IMCC) (CSE:IMCC) (“IMC”) has an exclusive commercial agreement with in Israel. Pursuant to the terms of the Supply Agreement, a wholly-owned subsidiary of Flowr has agreed to export up to five hundred kilograms of premium dry flower cannabis in bulk form into Israel. The Supply Agreement represents the Company’s first significant international distribution agreement and first export opportunity into Israel.   The Israeli medical cannabis market was characterized by strong year-over-year growth in 2020. According to Prohibition Partners, active patients grew by approximately 17% from 2019 to 2020, reaching over 70,000 patients, leading to imports into Israel of over 7 tonnes by July 2020. Israel also announced plans to legalize recreational cannabis in late 2020, which will further drive demand for high-quality cannabis products. Brightfield estimates the market will generate over U.S.$130 million in 2021 and reach over U.S.$230 million by 2025. “We are extremely pleased to be introducing our cannabis to the Israeli market in partnership with IMC and Focus Medical,” commented Darryl Brooker, Chief Executive Officer of Flowr. “We expect the Israeli market to be an important destination for us to grow our brand and distribution reach internationally. Coupled with our ability to grow high THC premium dry flower from our E.U. GMP facilities in Portugal, we view this partnership as an important next step to becoming a significant international producer of cannabis with a…

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Source : The Flowr Corporation Announces Export Agreement to Israel with Focus Medical Herbs and IM Cannabis

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