Israeli medical cannabis company Tikun Olam CannBit Pharmaceuticals announced it has signed a memorandum of understanding for cooperation with the British company ITH Pharmaceuticals. The deal revolves around the supply of CBD oil and other medical cannabis products in the UK. According to the agreement, ITH will undertake an order to purchase approximately 1 ton of cannabis oil from the company per year, in bi-monthly doses. According to documents, the agreement will most likely start in December 2020. In addition, Tikun Olam Cannbit will sell ITH the formulas for an array of different THC and CBD rich oils and flowers, to sell in the emerging UK medical cannabis market. Lastly, subject to the removal of regulatory restrictions applicable to the parties in connection with export and import and other conditions to be set out in the agreement.
Mmp News Author, Medical Marijuana Program Connection, 10/07/2020 21:27:25