Middle East Cannabis Industry & Marijuana Business News

Marijuana industry goes to court to force Israeli government to permit MMJ exports

The marijuana industry is fighting a high-stakes court battle to force the Israeli government to approve medical cannabis exports sooner rather than later. The decision by industry advocates to go to court comes as Israeli lawmakers prepare to debate the country’s medical cannabis export policy on Monday. The outcome is huge for dozens of international […]

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Israel hits pause on medical marijuana exports; Cronos exec not concerned 

Israel Prime Minister Benjamin Netanyahu has suspended reforms on plans to allow cannabis growers to export their product due to concerns that MMJ could find its way to the black market. One Canadian company that expanded to Israel last year, Stayner, Ontario-based Cronos Group, said the regulatory delay doesn’t change its strategy, and the licensed producer still aims […]

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‘Launchpad to Asia’: Cronos pulls veil off Australian joint venture

Cronos Group unveiled its Australian joint venture and the first phase of a 10-million-Australian-dollar ($8 million) production facility, the latest move by a Canadian company to carve out opportunities to meet demand Down Under and position itself to capitalize on future possibilities in Asia. It’s the first Canadian company to help build a medical cannabis company in Australia […]

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Israeli medical cannabis company partners with DC cultivator

A medical marijuana company in Israel that already has a business presence in the United States is expanding that footprint by partnering with a Washington DC-based MMJ grower. Tikun Olam, an Israeli MMJ firm that specializes in genetics, said in a news release that it’s going into business with Alternative Solutions, one of the few […]

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Cronos Group raises CA$17 million to fund R&D, boost marijuana production

Cronos Group has closed a stock deal that raised 17.2 million Canadian dollars ($13.5 million) to fund research and development, expand Canadian cannabis production capacity and develop distribution infrastructure. The deal brings to CA$90 the amount of capital the company has raised so far this year, including CA$40 million in debt, President and CEO Mike Gorenstein […]

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Medical marijuana cultivation now an official farming sector in Israel

Israel is classifying medical marijuana cultivation in the same farming sector as traditional agriculture. The Agricultural Ministry’s decision means up to 20 farmers will qualify for government aid in the form of grants, water quotas and training, The Jerusalem Post reported. The reclassification of Israel’s MMJ farmers follows an August announcement that the nation plans […]

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MA holding company helps Israeli MMJ firm expand US reach

Medical marijuana research firm Tikun Olam has expanded its partnership with a canna-centric Massachusetts holding company that will eventually increase the Israeli business’ U.S. footprint to seven states. Under its new agreement with Newton, Massachusetts-based holding company MariMed, Tikun Olam’s MMJ products will be grown, manufactured and sold in four states where MariMed has a presence – […]

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Israeli, Canadian firms partner to run four US marijuana facilities

An Israeli medical marijuana company is teaming up with a Canadian firm with the goal of opening four MMJ production facilities in the United States. Israel-based Panaxia and the Canadian Bioceutical Corp. have signed a contract in which CBC will finance the four projects while Panaxia will oversee construction and then manage the operations, Israeli […]

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Research pioneer Israel approves exporting medical marijuana

Israel has approved the export of medical marijuana, and some 500 growers have applied for licenses to ship MMJ to other countries. In approving MMJ exports, a committee of representatives from the finance and health ministries estimated that Israel’s economic potential from medical cannabis exports could reach 1 billion shekels to 4 billion shekels a […]

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Israel moves toward becoming a medical cannabis exporter

Israel, already a leading cannabis research power, could become a major player in the international marijuana business landscape after a government committee approved draft legislation allowing the export of medical marijuana. The green light from the ministerial committee on legislation means the measure will proceed as a government-backed bill, AFP reported. But a government statement […]

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