Recently incorporated medical-cannabis grower Together Pharma is moving some of its greenhouses to the EU amid Israeli red tape that is threatening to strangle the budding industry.
Together Pharma signed a memorandum of understanding (MOU) with an unnamed European Union country to set up a 30,000 sq.m. greenhouse.
The Israeli government reportedly told medical marijuana companies that their cannabis exports would be approved by 2018, according to industry employees. That persuaded the companies to embark on multi-million-shekel investments, some of which could now be in jeopardy.
“Everyone would be happier if there wasn’t such a delay and such confusion,” Together Pharma Managing Director Nir Sosinsky told The Jerusalem Post, referring to the bureaucratic morass that has held up Israeli medical-marijuana exports.
“The delay affects the money and the business,” Sosinsky said. “We don’t know what the government policy is – we can only guess.”
Israeli MMJ grower to shift to EU amid red tape
Not taking any chances, Together Pharma is signing multiple MOUs with foreign firms to establish marijuana farms abroad, the company informed the Tel Aviv Stock Exchange in financial filings.
