IL: Israeli cannabis operations reportedly up for sale

The Israeli activities of medical cannabis grower Tikun Olam are up for sale, the Calcalist business daily reported Wednesday, citing sources from within the medical cannabis industry.

Yitzhak (Tzahi) Cohen, the founder and controlling shareholder of the firm, is in talks with a number of entities for the sale of the Israeli operations, Calcalist said. The operations include a 3-dunam cannabis farm, around 0.74 acres; a factory that is in the process of being built in Nazareth Illit; a nurse clinic and offices in Tel Aviv; and a list of 8,000 local clients that are being treated with cannabis oils. The price tag for these activities is $100 million, the sources said.

Cohen founded Tikun Olam in 2005 as a nonprofit, making it a limited company in 2010. The firm was the first company in Israel to get a license from the Health Ministry to grow medical cannabis for patients and is today the largest in Israel.

Read more at timesofisrael.com


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