Tilray Inc. announced Thursday a deal with InterCure Ltd. subsidiary Canndoc Ltd., in which 2.5 tonnes of medical cannabis will be shipped to Israel by Tilray's Portugal-based subsidiary, Tilray Portugal Unipessoal Lda. The cannabis, which is slated to arrive in early-January, will be the first medical cannabis import that is allowed to enter Israel. In addition to the agreement, Tilray said it has agreed to buy up to 5 tonnes of whole flower from Canndoc beginning in mid-2020. If future Israeli regulations allow, Tilray said the whole flower will be shipped to Tilray's Portugal facility to be turned into GMP-certified finished product, to be distributed across Europe. Tilray's stock fell 3.1% in morning trading. It ran up 9.0% on the last day of 2019, but still fell 76% last year. In comparison, the ETFMG Alternative Harvest ETF tumbled 31% in 2019 while the S&P 500 rose 29%. Read More...
Tilray Inc. announced Thursday a deal with InterCure Ltd. subsidiary Canndoc Ltd., in which 2.5 tonnes of medical cannabis will be shipped to Israel by Tilray’s Portugal-based subsidiary, Tilray Portugal Unipessoal Lda. The cannabis, which is slated to arrive in early-January, will be the first medical cannabis import that is allowed to enter Israel. In addition to the agreement, Tilray said it has agreed to buy up to 5 tonnes of whole flower from Canndoc beginning in mid-2020. If future Israeli regulations allow, Tilray said the whole flower will be shipped to Tilray’s Portugal facility to be turned into GMP-certified finished product, to be distributed across Europe. Tilray’s stock fell 3.1% in morning trading. It ran up 9.0% on the last day of 2019, but still fell 76% last year. In comparison, the ETFMG Alternative Harvest ETF tumbled 31% in 2019 while the S&P 500 rose 29%.
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