There are over 50 cannabis companies in Isreal that are involved in the cultivation, processing, and distribution of medical cannabis. Over the past few years, hundreds of millions of dollars have been invested into the development of a commercial industry of medical marijuana in Isreal.
Cannabis businesses operated under the assumption that the Prime Minster would keep his word, allowing companies to begin exporting medical cannabis around the world. However, Benjamin Netanyahu was persuaded by the United States President Donald Trump, to change his mind which halted the countries plans for exports.
This stalemate has caused doubt in the minds of cannabis business owners in Isreal, which now has caused companies to look outside of the country to keep their businesses alive.
Kanabo Research is a cannabis technology company in Isreal that develops, medically validates, and patents formulations of medical cannabis extracts designed to target specific Central Nervous System (CNS) disorders. The company has already announced a partnership with companies in Europe and Oregon which it plans to farm out its technology out to.
By continuing this stalemate, the Israeli Prime Minister is hurting the Israeli people who now are losing out on graining from an estimated $285M-$1.14B export industry.