Uruguayan Cannabis Co. Fotmer Life Sciences Signs Supply Agreement With Israel-Based Canndoc

Fotmer Life Sciences, a medical cannabis licensee in Uruguay, announced it has entered into a strategic supply agreement with Israeli cannabis producer Canndoc, a fully owned subsidiary of Intercure Ltd. TA IRCLF.

Under the terms of the deal, Fotmer will supply up to 3,000 kgs. of high-quality bulk dried flower to Canndoc per year. Canndoc will then process that into finished products and co-brand it under the Canndoc and Fotmer names.

The supply agreement also allows for the parties to launch branded medical products in the Israeli and E.U. markets, and grants exclusivity and related rights to Canndoc within the Israeli market for a period of up to 7.5 years.

See Also: Fotmer Life Sciences: The Uruguayan Experience And The Future Of The Medical Cannabis Industry

“Driven by the mission to increase the global supply of GMP-certified medical, high-THC cannabis for patients participating in medical cannabis markets, we are pleased to be entering this exclusive agreement with Canndoc to serve the rapidly expanding domestic market in Israel,” said Dr. Jordan Lewis, CEO of Fotmer.

"Fotmer’s stringent cultivation practices made way for a seamless approval process in Israel which recently amended its regulations for cannabis imports," Lewis continued. "As one of the largest cannabis producers and exporters of medical cannabis, this agreement serves as a significant step for Fotmer in the international cannabis marketplace and represents another proof point that Latin America is poised to dominate the global cannabis supply chain."

Courtesy photo.

Posted In: CandocFotmerFotmer Life SciencesCannabisNewsPenny StocksMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.