North America firm acquires Israeli-based cannabis provider, opening market

The organic strips are said to help manage pain, increase concentration, serve as an antidepressant, and enable better sleep.

By DAVID DIMOLFETTA
June 27, 2019 13:00
1 minute read.
North America firm acquires Israeli-based cannabis provider, opening market

THERE IS one area where I would like to see Israel take a page from the American playbook: legalization of cannabis.. (photo credit: PIXABAY)

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analysis from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

Vancouver-based investment firm Nabis Holdings Inc. announced Tuesday the completed acquisition purchase of 49 percent of Israeli-based cannabis consumption provider Cannova Medical Ltd. in an effort to bring Israeli cannabis products to Canadian markets.

Cannova’s product, a sublingual strip infused with cannabis molecules and natural ingredients, allows more effective dosage control coupled with stronger effects, according to a Nabis Holdings press release.

The organic strips are said to help manage pain, increase concentration, serve as an antidepressant, and enable better sleep.

“We are excited to work with the Nabis team leveraging their extensive experience and capabilities to help us reach our growth goals faster,” said Omri Schanin, Founder & CEO of Cannova.

Shay Shnet, CEO and Director of Nabis, is “thrilled” to have closed the deal and bring Cannova’s product to market.

“Our goal for strategic investments at Nabis is to enter multiple aspects of the cannabis sector including related technology,” he said. “The Cannova team is focused on developing innovative solutions addressing an industry wide concern to have the ability to better measure cannabis consumption.”

Cannova is also developing a strip customization machine, known as the NovaJet, where users can create their own sublingual strips with “specific measured quantities of cannabinoids and other natural substances, customised to their unique demand.”

The Knesset passed an amendment last year allowing for the export of medical cannabis from Israel, allowing the nation to enter a global market with a projected worth of $130 billion by 2029, according to New York-based investment bank Jefferies Group LLC.


Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

MK Rafi Peretz at a ceremony at the education ministry
July 17, 2019
Rafi Peretz retracts comparison between intermarriage and the Holocaust

By JERUSALEM POST STAFF

Cookie Settings