Aphria Announces Strategic Supply Agreement With Canndoc

Aphria now positioned within two of the largest cannabis markets outside of Canada
Agreement with Israeli leader Canndoc provides access to Israel’s largest drugstore chain
Finished product will be co-branded under Aphria and Canndoc brands

CANADA: Aphria Inc., a leading global cannabis company, today announced it has entered into a Strategic Supply Agreement with Canndoc Ltd., a subsidiary of InterCure Ltd., one of Israel’s largest and most established medical cannabis producers.

Under the terms of the Agreement, Aphria will supply Canndoc with dried bulk flower over a two-year period, with the option to extend for two additional terms of two years each, and an option for an additional year after that if the parties agree to terms.  During the first two-year term and each additional term, if applicable, the Company will provide Canndoc with 3,000 kgs. of bulk dried flower, which will be processed into finished product, co-branded under the Aphria and Canndoc brand names, and sold exclusively within the Israeli market.

“We are excited about our strategic partnership with Canndoc, a well-established Israeli leader, and the opportunity to continue to expand our medical cannabis brand internationally,” said Irwin D. Simon, Chairman and Chief Executive Officer, Aphria Inc. “Today’s announcement is about more than a supply agreement. It’s about the strength and quality of our medical brand, Aphria, being continuously validated by the world’s medical cannabis markets, including countries in which we have no distribution today. The Agreement represents a significant step for Aphria, and we look forward to bringing our high-quality medical cannabis products to patients in Israel.”

“We are proud to partner with Aphria, a global leader who shares with us the same quality values and commitments of meeting patients’ needs and improving their quality of life. This is another vote of confidence in Canndoc’s leadership and the Israeli market,” said Ehud Barak, former Israeli Prime Minister and Chairman of the Canndoc Board of Directors.

The strategic partnership will also include the possibility of Aphria and Canndoc collaborating on research initiatives such as clinical trials focused on the use of medical cannabis with leading hospitals and research institutions in Israel and exploring potential collaboration in the EU market.

Now strategically positioned in two of the largest cannabis markets outside of Canada, Germany, one of the most highly sought-after developed medical cannabis markets in the world, and Israel, one of the largest importers of medical cannabis in the world, the Company will continue to leverage its market leadership as it develops its medical cannabis markets internationally.

Canndoc has been pioneering Pharma-Grade cannabis for more than 13 years and has established itself as a well-respected company in the global cannabis industry. In March 2020, Canndoc entered a strategic partnership with Super-Pharm, Israel’s largest drugstore chain, allowing for Canndoc’s products to be distributed across 95 medical cannabis authorized pharmacies and sold to Israel’s growing medical cannabis patient community.

iCAN: Israel-Cannabis CEO Saul Kaye Comments on New Israeli Cannabis Initiatives

ISRAEL: Kupat Holim Meuhedet, Israel’s third largest health maintenance organization (HMO), announced yesterday that it was opening an internal cannabis unit using a digitalized system that will allow for significantly faster medical cannabis approval for patients in need.

In the framework of the new independent unit, the family doctor will transfer the request of the Meuhedet patient with a recommendation to the unit within the fund, which will approve the request. The process will shorten the generally long wait that typifies the unit of the Ministry of Health.  As a result, other health funds are considering the possibility of setting up similar units.

“We congratulate Meuchedet on their forward-thinking attitude to cannabis medicine and breaking the barriers that currently exist in Israel for patient access. For too long the HMOs have been complacent in the long and complicated process of obtaining medical cannabis in Israel. I hope to see the next news that they are covering the cost of cannabis for reimbursement as part of the medical system in Israel.  Meuchedet is the most supportive Israeli health fund. They have the most doctors who understand the importance of medical cannabis treatment and have the knowledge to prescribe it,” said iCAN: Israel-Cannabis CEO Saul Kaye.

In addition, also yesterday, Israeli news organizations reported that Prime Minister Benjamin Netanyahu will support a bill tabled by Likud MK Sharren Haskel that would, in effect, legalize cannabis by allowing all Israelis to grow one cannabis plant for personal consumption.  Dealing cannabis would remain illegal.

“No one should be criminalized for growing a cannabis plant and using the leaves as they see fit.  This is an important step in the process of decriminalizing cannabis in Israel and I hope this legislation passes soon after the Knesset is back from its summer recess. I have worked closely with MK Haskel on all of her cannabis initiatives and wish her well in the upcoming elections as Israel’s true cannabis voice in the Government,” said Kaye.

Tikun Olam Announces Closing Of $7 Million Convertible Promissory Notes Financing

NEW YORK: Tikun Olam USA, the world pioneer in cannabis research, is pleased to announce the closing of a $7,000,000 offering of 6% convertible promissory notes (the “Notes”), maturing in March 2019.

Proceeds from the Notes, issued by T.O. Global LLC, a New York limited liability company (the “Company”), will be used for product research and development, enhancing and protecting intellectual property, patient studies and trials, advertising and marketing of the Company’s brand, payment of corporate, organizational and transactional expenses, repayment of indebtedness to a related party, and working capital and general corporate purposes.

This financing highlights recent major licensing deals for the Company that will bring its exclusive, branded, science-backed cannabis products to more than ten U.S. states, from coast to coast in 2018.

About Tikun Olam

Tikun Olam (“repair the world” in Hebrew) is a leading cannabis brand and globally recognized as the pioneer of modern medical cannabis.  The company’s global mission is to research, develop and provide efficacious, data-based cannabis treatments to help sufferers. Operating as a commercial venture for over ten years, Tikun Olam’s products have been used since 2010 in ongoing clinical trials in Israel’s regulated medical cannabis market, treating over 10,000 patients for a variety of symptoms of medical conditions such as Cancer, PTSD, AIDS, epilepsy, Crohn’s Disease/Colitis, multiple sclerosis, cerebral palsy, chronic pain and neuropathy.