Focus Medical Herbs has successfully imported approximately 399 kilograms of premium indoor-grown Canadian dried cannabis from Trichome JWC Acquisition Corp., the Company's wholly-owned Canadian cultivation subsidiary, and an additional supply partner. The launch of this product in the Israeli medical cannabis market by Focus Medical is expected by the end of the first quarter of 2022. The Company expects Focus Medical to import additional quantities of premium dried cannabis from TJAC, and its supply partners in Canada and elsewhere, on a consistent basis going forward.
As disclosed on November 29, 2021, the imported medical cannabis from TJAC will be sold to licensed Israeli patients under the Wagners brand, the company's popular Canadian recreational brand. In Ontario, Wagners Premium, indoor-grown dried flower was ranked second in market share in the fourth quarter of 2021, garnering 5.6% of the market.
Oren Shuster, Chief Executive Officer of IM Cannabis stated, "The importation by Focus Medical of premium indoor-grown dried cannabis from our subsidiary TJAC is an important milestone in IM Cannabis' strategic objectives. The Israeli medical cannabis market is rapidly evolving and demanding only the finest premium cannabis. With our globally integrated supply chain, indoor cultivation in Canada, and a coordinated team of compliance, regulatory, and purchasing professionals, our Company is uniquely positioned to address the needs of patients and customers in Israel, Canada, and Germany. We expect 2022 to demonstrate the unique value of the business model that we have built and are excited about the opportunities in each of our core markets."
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