Avant Brands Inc. AVNT AVTBF 1BU and IM Cannabis Corp. IMCC IMCC jointly announced on Wednesday the signing of an international trademark licensing agreement granting IMC the exclusive right to launch the BLKMKT brand in the Israeli medical cannabis market.
Under the terms of the agreement, a subsidiary of Avant will license the company's premium- cannabis flagship BLKMKT brand to an Israeli subsidiary of IMC for use on IMC's medical cannabis product packaging.
In addition, all such packaging will contain cannabis cultivated exclusively by Avant and sold to IMC affiliates.
Why It Matters
Integrating unique and exclusive varieties of the high-quality BLKMKT brand into the current IMC premium product portfolio will bolster the cooperative and synergistic partnership forged between the two companies over the past two years.
Moreover, it will further strengthen IMC's business model in Israel that, offers medical cannabis patients quality, ultra-premium brands, such as WAGNERS, IMC.
The deal, also signals IMC's commitment to implementing a premium strategy and acts as another step to establish the company's leadership of the ultra-premium segment in Israel.
"Medical cannabis patients in Israel are demanding the highest quality indoor cannabis products. By evolving our partnership with Avant, we continue to improve our supply chain and ability to provide ultra-premium, quality product to the Israeli medical cannabis market," Oren Shuster, CEO of IM Cannabis, said.
Avant has made multiple shipments to Israel under the terms of a previously announced supply agreement with Focus Medical Herbs Ltd.
In order to facilitate these exports, Avant's cultivation facilities must successfully complete rigorous audits in order to secure ICANN-G.A.P accreditation from the Israeli Institute of Quality & Control.
Photo: Courtesy of geralt, lindsayfox Pixabay
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