Intercure announces that Kandok, the wholly owned subsidiary, has signed a strategic agreement with the international cannabis giant Fotmer Corporation SA, one of the largest cannabis exporters in the world and the leading and largest cannabis company in Uruguay, which sells its products very successfully in Europe, Israel and other countries.
Fotmer’s medical cannabis products are considered to be among the highest international quality standards. The contract with Fotmer is a significant step that complements the range of quality Kandok products as part of the realization of the growth strategy in Israel and around the world. In the Company’s estimation, the agreement is expected to substantially increase the volume of production, revenue and Kandok profits.
The companies have entered into a strategic and exclusive cooperation for a period of about 7.5 years, Kendock will import from Fotmer about 3 tons of quality medical cannabis products every year, and will manufacture and market the products under a common brand in Israel and in accordance with regulatory developments for export to the EU. The companies are considering developing and distributing additional joint products based on the extensive knowledge and experience of the two companies. In addition, the companies will examine the design and conduct of clinical studies to examine the effectiveness of the joint products in Israel and in the European Union.
Kandok’s collaboration with Fotmer is in addition to other strategic and exclusive collaborations in which the company has contracted with the world’s leading players Tilray, Organigram, Aphria and Charlotte’s Web. The strategic agreements with the world’s leading brands establish and emphasize the international reputation and capabilities of Kendock in accordance with the growth strategy, based on high quality and branding in the main target markets in Europe, along with rapid growth in the cannabis market in Israel.
Ehud Barak, Chairman of the Board: “The combination of forces allows patients in Israel and around the world access to medical cannabis products at the highest quality level. Kendock is proud to partner with Fotmer, considered a world-class leader, led by CEO Jordan Lewis, a pioneer in the U.S. and South American cannabis industry since 2009.
Jordan Lewis, CEO of Fotmer, said: “Kandok is a leader in the medical cannabis market in Israel, and this groundbreaking collaboration between the two companies will enable the provision of much-needed medical products by patients in the country and in the European Union. We are excited to partner with Mr. Barak, as well as with Kanduk’s executive team. The global medical cannabis market is experiencing an exciting change and we look forward to its growth for years to come. ”