Israel finally received the green light to export its first shipment of medical cannabis to the U.K. to help supply the country’s newly-legalized medical cannabis needs.
According to Yahoo! Finance, IM Cannabis Corp., a medical cannabis company based in Israel and Europe, is planning to send this first shipment over to the U.K. This is happening ahead of schedule and a year after the approval of this reform was first announced. They are working to become a major supplier of medical cannabis for the U.K.in order to take advantage of this emerging market.
“There is a very large commercial opportunity for exporting medical cannabis from Israel into Europe and other international markets and we applaud the Israeli government for its vision in recognizing this market opportunity,” said Oren Shuster Chief Executive Officer of IMC according to Yahoo! Finance. “IM Cannabis is committed to delivering high-quality medicinal-grade cannabis products to its patients in Israel and establishing a leadership position in international markets by supplying branded medicinal cannabis products via the company’s fully-licensed import and export distribution facility.”
The company intends to leverage operational and become established in the emerging medical cannabis markets including Germany, Portugal and Greece, and now, also the U.K. So far, they are on the ball when it comes to exporting cannabis and getting a leg up in the industry from the very start.
Israel has been making a major impact on the cannabis industry over the past few years, and especially recently. Snoop Dogg recently announced his role as a brand ambassador for a cannabis tech company in the country and a college in Israel now offers a medical cannabis degree. This will ensure they have a bright future when it comes to exporting cannabis to the U.K.