Published: July 31, 2020

Thrive Announces Supply Agreement with Israeli Cannabis Company

Thrive Cannabis, a licensed producer of premium craft cannabis concentrates and dried flower, based in Simcoe, Ontario, is pleased to announce that it has signed an agreement with one of Israel’s largest cannabis producers to supply it with products for the Israeli medical market.

Under the terms of the agreement, Thrive Cannabis has initially committed to supplying orders of over 500 kg of premium dried flower, generating approximately $1.5 million CDN in revenue. Moving forward it is Thrive’s intention to build out a strong, long-term relationship with the Israeli firm, supplying up to 500 kg of premium dried flower each month. At the time of this release, the initial orders have already shipped from Canada. Thrive estimates that its cannabis shipments will be used to service almost half of Israel’s medical cannabis patients through this leading producer.

Canadian Export License and Israeli Import Permit Granted

Thrive Cannabis has received both the Health Canada Export License and the Import Permit from the Israeli Ministry of Health necessary for the fulfillment of its agreement. The Company looks forward to supplying flower and other cannabis-based products to the Israeli medical market in compliance with the standards and regulations set by Health Canada and The Pharmaceutical Division of The Israeli Ministry of Health.

“This relationship provides Thrive with an excellent, high-volume global supply opportunity for a long-term wholesale agreement on not just our premium dried flower in bulk, but also the potential to move to other formats and introduce our brands in Israel going forward,” ” said Geoff Hoover, Thrive CEO. “Only a handful of Canadian producers have so far successfully exported cannabis to International markets such as Israel and it is with great pride that we can now count Thrive among them. We expect this to provide an immediate boost to our corporate volume and revenues.”

Thrive Cannabis is a privately held, vertically integrated cultivator and processor of premium and ultra-premium craft cannabis and cannabis concentrates, founded in 2018, with production facilities in Simcoe, Ontario. Thrive holds production, sales and outdoor cultivation licenses from Health Canada. Thrive Cannabis is currently developing premium products for the Canadian recreational market that will commence distribution in 2020. To learn more, visit us at thrivecannabis.ca

SOURCE: http://cannabisproonline.com/news/thrive-announces-supply-agreement-with-israeli-cannabis-company/