Israel Passes Cannabis Export Law, Paving Path for Aura’s European Distribution
January 28 2019 - 8:00AM
Aura Health Inc. (the “
Company” or
“
Aura”) (
CSE:BUZZ) is pleased
with the final approval of Israel’s export law for medical
cannabis.
On Sunday, January 27, the Israeli government
announced the new law, approving the export of Israeli-grown
cannabis to the global market. The law makes Israel the third
country in the world, after Canada and the Netherlands, to approve
export of medicinal cannabis.
The primary export market is expected to be the
European Union, one of the world’s largest markets for medical
cannabis. This is particularly beneficial to Aura, as the Company
continues to grow its presence in the E.U. and build a strong
vertical integration with our business in Israel.
Daniel Cohen, CEO of Aura, commented, “We
welcome the Israeli government’s decision to approve the export of
medicinal cannabis. With our Israeli production set to begin later
this year, combined with our planned acquisition of the Pharmadrug
distribution business in Germany, this moves Aura into a very
strategic position. Until our own production is available, we see
significant revenue opportunities by exporting other cannabis
products from Israel into the E.U. through our mapped distribution
channels.”
About Aura Health Inc.
Aura Health is building an international network
of vertically integrated cannabis assets. Through an established
product line of cannabis-infused edible products and oil extracts,
Aura is dedicated to building a high margin downstream business in
the medical marijuana sector. The Company holds convertible debt
that converts to 54% equity of HolyCanna, a cultivation and nursery
license holder in Israel. Aura also has two LOIs in place to
acquire Pharmadrug, a German medical cannabis and pharmaceutical
distributor, as well as CananbiSendak, the builder of a network of
high-profile dispensaries in Israel. The Company also owns a 30%
interest in four medical marijuana clinics in the U.S. Sun
Belt.
For further information, please contact:
Daniel Cohen, CEO Aura Health Inc. (647)
202-1824
David Posner, ChairmanAura Health Inc. (647)
985-6727
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