Santa Monica, California--(Newsfile Corp. - June 1, 2020) - CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the leading media network dedicated to the global legal cannabis, CBD and psychedelics industries, today announces an article discussing Israel's recent approval for cannabis exports and how companies like Isracann Biosciences, Inc. (CSE: IPOT) (OTC Pink: ISCNF) are well-positioned to profit.
Isracann Biosciences, Inc.
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Israel gave final approval in mid-May for exports of medical cannabis, paving the way for more than one billion shekels ($273 million) in annual revenue. The country will become one of just three countries that have approved the export of medical cannabis to countries that permit its use-after Canada and the Netherlands- when the law goes into effect on June 13, 2020.
With its favorable climate and expertise in medical and agricultural technologies, Israel could become one of the world's biggest producers of medical cannabis. iCAN estimates the global market for Israel's medical cannabis could be as high as $33 billion, while Israeli companies like Syqe Medical have pioneered innovative medical cannabis technologies.
The go-ahead to export medical cannabis could open the door to new investment in the country, while existing Israeli producers, like Isracann Biosciences Inc. (CSE: IPOT) (OTC Pink: ISCNF), could be well-positioned to benefit from near-term export demand.
Let's take a look at who stands to profit from the recent export decision and how investors can position themselves to capitalize on the developments.
Who Stands to Profit?
There are more than ten farms and five factories in Israel that meet the Health Ministry's standards for medical cannabis exports, and several of them have already reached agreements to sell cannabis to Europe or Canada when licenses become available.
Isracann Biosciences Inc. (CSE: IPOT) (OTC Pink: ISCNF) is Israel's first pure-play cannabis firm wholly focused on becoming the nation's premier, low-cost cannabis producer. The company has a joint venture agreement in place with a built 55,000 sq. ft. farm that's expandable to 110,000 sq. ft. in the near-term and has access to over two million sq. ft. of private land.
"Our Hefer Valley farm is making great strides," said Isracann's VP of Operations, Matt Chatterton in a recent press release. "We engaged a specialist Israeli consultant to advance the certification of farm to EU-GMP standards thereby paving the way for our export distribution. In addition, the related post-harvest export facility is nearing readiness."
In addition to its production, Isracann entered into a MOU earlier this year to distribute cannabis throughout European end markets. The distributor will import products through the Republic of Malta, subject to compliance and regulations, and is currently preparing a regional processing facility designed to meet EU-GMP standards.
Breath of Life International Ltd. planned to raise C$150 million on the Toronto Stock Exchange (TSE) through a public share offering priced at C$27 to C$32 per share last year, but management shelved plans for an IPO until market conditions improved in October 2019. The company reported $1.1 million in revenue during the first quarter of 2019 from the Israeli market.
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Other Israeli cannabis producers that could benefit include:
Cronos Group Inc. has a strategic joint venture with Kibbutz Gan Shmuel, a commercial farming community, whereby it plans to build a 45,000 sq. ft. greenhouse in Israel that will help supply the European market.
Aura Health Inc. holds convertible debt that converts to a 54% equity position in HolyCanna, a cultivation and nursery license in Israel. The company also signed a LOI with CannabiSendak to build a high-profile dispensary in Tel Aviv.
Namaste Technologies Inc. owns a 10% stake in Cannbit, a licensed cannabis operation in Israel. The company also has a collaboration and supply agreement with the company to purchase medical cannabis.
What's Next for Israel?
Israel's move to legalize medical cannabis exports could be transformative for many public and private companies operating in the country. Investors looking for exposure to the space may want to consider Isracann Biosciences Inc. (CSE: IPOT) (OTC Pink: ISCNF) as one of the only pure-plays in the space or a handful of other companies that have exposure through joint ventures and investments.
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About CFN Enterprises Inc.
CFN Enterprises Inc. (OTCQB: CNFN) is a digital media and ecommerce company focused on advancing businesses and brands in highly regulated emerging industries across the globe. CFN connects investors with new market opportunities while helping consumers find innovative products that enhance their lives. Learn more at www.cfnenterprisesinc.com.
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