Canopy Growth Inc. continues to be strong in its intentions to be a cannabis world leader, and a new international partnership was just announced. Canadian cannabis company Canopy Growth Inc. just entered into an agreement with a medical cannabis firm located in Israel called Univo that will be deployed in several steps. Univo is currently setting up a cannabis farm, and it already owns a cannabis processing facility, so it will be importing from Canopy approximately 470 kilograms as the exclusive importer. A joint brand between Canopy and Univo will be marketing the final product.
That is only the first stage of this agreement. A second part will move forward to make Israel a provider to the European continent. Once Israel’s operations are set and can cover the local demand, cannabis exports need to be allowed from Israel, so Canopy Growth will use its partner’s production capacity to distribute its products across Europe. According to the Ministry of Health, once the cannabis shortage in Israel can be overcome, exports can be allowed. By Univo importing cannabis from a Canadian company, it contributes to decrease the shortage even faster.
Univo CEO Golan Bitton said yesterday that the agreement with Canopy Growth demonstrates that Univo has a solid position not only local but also international markets. He added, “In addition, the agreement proves that there is an advantage in building a technological facility with a large production capacity and future technological capability of manufacturing high-quality products to an international standard. The agreement will enable us to increase our market share in Israel without depending on local farms and supplies and to continue selling and expanding the variety of our medical cannabis products of the highest quality. It also establishes production infrastructure for Canopy Growth in the international market.”