Intercure – the largest cannabis producer in Israel – the capital market

Kandok, a wholly owned subsidiary of

Intercure
+ 1.47%

Base:354.2

opening:354

Tall:363

low:340.1

change:1,127,661

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, Received a permanent license for the southern facility on a commercial scale and became the largest medical cannabis producer in Israel. The permanent license was obtained from theMedical Cannabis Unit at the Ministry of Health (HIKR) for propagating and growing cannabis plants and processing inflorescences and plants under IMC-GAP quality conditions at the Kandok cultivation facility in the south of the country.

The southern facility joins the production system that also includes the northern facility of Kandok and other facilities in the world that work with the company in strategic cooperation. The southern site is spread over an area of ​​170 dunams and the company states that “many resources have been invested in the facility to implement advanced technologies in all stages of growth and production, in order to meet the high quality levels of Kandok products.”

Two weeks ago, Kandok’s first commercial export was made to Tillery in Portugal (a company that may merge and become one of the largest corporations in the field), and these will be marketed through the latter’s global distribution network. At the same time, it signed a strategic agreement with Fotmer Corporation, one of the largest cannabis exporters in the world and the largest in Uruguay, which sells its products in Europe, Israel and other countries.

The development of the southern site is carried out in a modular manner in accordance with the regulatory developments concerning the export of medical cannabis from Israel. The growing license can be given for phase A of the project in a total area of ​​about 30 dunams, in accordance with the development of the markets in the world and in accordance with the development of export regulation.

Kandok has successfully completed a second commercial cycle and is in the midst of a third growth cycle and expects to begin marketing the products in the first quarter of 2021. In the company’s estimation, in accordance with the supply agreements it reported The company’s production and revenue.