Former Israeli Prime Minister Ehud Olmert has joined Ashkelon-based medical cannabis company Univo as an investor and professional advisor, the company announced on Wednesday.
Olmert, the company said, will "help promote Univo's business goals both in Israel and globally, and will support the company’s future fundraising efforts."
Founded in 2016, Tel Aviv Stock Exchange-traded Univo possesses licenses for the cultivation, research and development, production, and distribution of its own cannabis product.
"The tech revolution has entered the medical cannabis space and is expediting all R&D, manufacturing, and even regulatory procedures, with the goal of relieving pain for patients suffering from a spectrum of diseases," said Olmert.
"Israel is stepping up and joining the world’s most progressive nations in developing a pivotal local industry that has the potential to contribute to global medical cannabis R&D efforts," he said.