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Israel Passes Cannabis Export Law, Paving Path for Aura’s European Distribution
TORONTO, Jan. 28, 2019 (GLOBE NEWSWIRE) -- Aura Health Inc. (the “Company” or “Aura”) (CSE:BUZZ) is pleased with the final approval of Israel’s export law for medical cannabis.
On Sunday, January 27, the Israeli government announced the new law, approving the export of Israeli-grown cannabis to the global market. The law makes Israel the third country in the world, after Canada and the Netherlands, to approve export of medicinal cannabis.
The primary export market is expected to be the European Union, one of the world’s largest markets for medical cannabis. This is particularly beneficial to Aura, as the Company continues to grow its presence in the E.U. and build a strong vertical integration with our business in Israel.
Daniel Cohen, CEO of Aura, commented, “We welcome the Israeli government’s decision to approve the export of medicinal cannabis. With our Israeli production set to begin later this year, combined with our planned acquisition of the Pharmadrug distribution business in Germany, this moves Aura into a very strategic position. Until our own production is available, we see significant revenue opportunities by exporting other cannabis products from Israel into the E.U. through our mapped distribution channels.”
About Aura Health Inc.
Aura Health is building an international network of vertically integrated cannabis assets. Through an established product line of cannabis-infused edible products and oil extracts, Aura is dedicated to building a high margin downstream business in the medical marijuana sector. The Company holds convertible debt that converts to 54% equity of HolyCanna, a cultivation and nursery license holder in Israel. Aura also has two LOIs in place to acquire Pharmadrug, a German medical cannabis and pharmaceutical distributor, as well as CananbiSendak, the builder of a network of high-profile dispensaries in Israel. The Company also owns a 30% interest in four medical marijuana clinics in the U.S. Sun Belt.
For further information, please contact:
Daniel Cohen, CEO
Aura Health Inc.
David Posner, Chairman
Aura Health Inc.
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