Aleafia Health to Enter Israeli Cannabis Market, Bolstering International Sales Opportunity

IndustryPRwire -- Aleafia Health is pleased to announce that it will commence cannabis exports to the Israeli medical cannabis market. The Company signed a binding letter of intent (the “LOI”) with Equinox International Ltd., a licensed British medical cannabis company with operations in the Israeli market.

Under the LOI, Equinox has committed to purchasing approximately 1,400 kg of dried flower in 2021. The first shipment to Equinox is expected to occur in Q1 2021 pending receipt of necessary import and export permits and completion of Aleafia’s cultivation cycle. Permit applications have already been submitted and will mark the first export of EU GACP-compliant dried flower grown at Aleafia’s Niagara Greenhouse facility.

Israel, the world’s fastest growing medical cannabis market, reached over 60,000 registered patients in 2020, from half that figure in 2018. It is also the largest net importer of cannabis globally, recently surpassing Germany.

Equinox International, in partnership with Aleafia Health, will establish an Israeli Land-to-Brand ecosystem covering supply, distribution, market leading brands and retail.

Geoffrey Benic Aleafia Health CEO Commented “Gaining market access to Israel, an incredibly dynamic country with a fast growing, highly innovative cannabis market, is something we’ve long aspired to, Doing so with Equinox, an accomplished, internationally scaled partner, marks an exciting chapter as we commercialize Aleafia Health globally.”

Equinox International CEO Xan Morgan Commented “Equinox is delighted to form a Land-to-Brand strategic partnership with Aleafia Health, Equinox is firmly positioned as a British champion and in partnership with Aleafia will be a leader in the Israeli cannabis market.”

The parties must now negotiate a definitive agreement concerning the supply of dried flower to Israel over a three-year term. They have agreed to negotiate the definitive agreement exclusively with one another for a period of 45 days.

The parties shall negotiate and include in the definitive agreement additional minimum purchase commitments for the second and third years of the contract. For the duration of the definitive agreement and in respect of the Israeli market, Aleafia shall be Equinox’s sole supplier of cannabis products and Equinox shall be Aleafia’s sole purchaser of cannabis products.

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