One of the leading Cannabis firms is collaborating with an Israeli leading firm that will provide access to Israel’s drugstore channel.
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The Cannabis stocks have remained the hot stocks during the last one month. Since the U.S. elections turn around things are going in cannabis firm’s favor. The potential marijuana market is expected to see a massive boom in the coming years.
Aurora is one of the leading cannabis companies; it is one of those few firms which have access outside the U.S. and Canadian markets.
On November 25, 2020, Aurora Cannabis announced that it is entering into a strategic Supply Agreement with Cantek Holdings, one of the leading medical cannabis firms of Israel.
Aurora has agreed with Cantek to supply dried bulk flower over a period of two years. The agreement is extendable based on the further decision of both the firms.
Cantek will receive a minimum of 4,000 Kgs of bulk dried flowers during the first year and consequently in the second year. The dried flower will be finished into an end product and sold under co-branded, the Aurora and Cantek. Initially, it will be sold in the local Israeli market, and based on demand it will be sold worldwide.
Aurora Cannabis has obtained all the legal export and import permits to ship its product to Israel. Under the agreement, the first shipment was carried out on Nov. 16, 2020.
This strategic collaboration will boost the sales of the company and explore its potential outside Canada. This is a big opportunity for the company to expand its ecosystem and make a name in the medical cannabis brand. Due to increasing demand in international market, Aurora is focused on the industry leading science sector.
The CEO of Aurora Cannabis, Miguel Martin stated that this deal is more than just a supply agreement. Adding on he further said:
“It’s about the strength and quality of the Aurora medical brand being validated once again by the world’s medical cannabis markets, including countries like Israel in which we had no distribution prior to today.”
With this agreement, Aurora intends to bring its high-quality medical cannabis products to patients in Israel. Cantek has a strong foothold in medical cannabis industry across the country. This will make it easier for Aurora to make an instant impact in its sales growth.
Moreover, Cantek has other key strategic partnerships with leading drugstore chains and distribution companies that will lower the burden of logistics, and have improved marketing.
After its initial investment in Germany, Aurora heads towards Israel to make its second potential growth market. With further legalization and high demand, Aurora Cannabis (ACB) will continue to leverage its market leadership across different medical cannabis markets around the world.