Canndoc has signed an exclusive strategic agreement with Fotmer Corporation, Uruguay’s leading exporter of medical cannabis.
Under the terms of the Agreement, Fotmer will supply up to 3,000 kgs of high-quality bulk dried flower to Canndoc per year, which will be processed by Canndoc into finished products and co-branded under the Canndoc and Fotmer brand names. The Agreement also contemplates an opportunity for the parties to launch branded medical products in the Israeli and EU markets, and grants exclusivity and related rights to Canndoc within the Israeli market for a period of up to 7.5 years. Activities under the Agreement are subject to compliance with all applicable laws, including receipt of all requisite approvals from the Israeli Ministry of Health.
"Canndoc is proud and excited to partner with the world-renowned team at Fotmer Life Sciences and their CEO Jordan Lewis, who has been a cannabis industry visionary in the U.S. and South America since 2009. Driven by the mission of meeting patients’ needs and improving their quality of life, we are pleased to work with Fotmer to help achieve better patient health and treatment outcomes in Israel, as well as other territories in years to come” said Ehud Barak, former Israeli Prime Minister and Chairman of the Canndoc Board of Directors as well as Chairman at Intercure.
“Canndoc has emerged as the true leader in medical cannabis for Israel, and through this groundbreaking relationship, Canndoc will bring much needed medicine to patients across the country as well as the European Union,” said Mr. Lewis, CEO of Fotmer. “We are excited to partner with Mr. Barak, as well as the executive management team. This is truly an exciting time for the international medicinal cannabis market – and we look forward to its growth in the next seven years.”
For more information:
Fotmer Life Sciences