Tilray Exports First-Ever Commercial Shipment Of Medical Marijuana Allowed Into Israel

Tilray, Inc. TLRY said Thursday it has signed a strategic agreement with Canndoc Ltd., a subsidiary of InterCure Ltd. INCR, via its wholly-owned subsidiary Tilray Portugal Unipessoal Lda. to export medical marijuana from Portugal to Israel.

Per the agreement, the amount of medical cannabis was set up to 2.5 tonnes and the shipment should reach Israel early in January. This would be the first medical cannabis import authorized in Israel, the company said.

Furthermore, Tilray has also agreed to buy up to 5 tonnes of GMP-certified whole flower from Cannadoc during the mid of 2020.

"To be able to import medical cannabis into Israel for patients in need is truly a historic moment not only for Tilray, but the whole industry," Tilray CEO Brendan Kennedy said in a statement. "We’re incredibly honored to partner with Canndoc to help increase patient access in Israel while becoming the first to ship medical cannabis into the country for commercial use. Israel represents our fifteenth export country and the second shipment from our EU Campus in Cantanhede, Portugal."

Canndoc is an Israeli Medical Cannabis Agency permit holder for the production of medical cannabis in Israel and the country’s first public company in the industry.

Tilray's stock traded lower by 4.26% to $16.40 per share in Thursday's session.

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