Israel's Cannbit eyes medical cannabis growth, export in Portugal

Lifeist Wellness

03/12/2018 10:15

JERUSALEM, Dec 3 (Reuters) - Cannbit  CPHO.TA , an Israeli
grower of medical cannabis, said on Monday it was examining the
possibility of establishing a cannabis farm in Portugal as part
of its strategy to expand outside of Israel.
    Cannbit said it was possible to grow medical cannabis in
Portugal and export it from there, with the necessary licenses
and permits required by authorities in the country.
    "We continue to implement our growth strategy, which
includes the establishment of farms in Israel and abroad, in
order to grow medical cannabis and sell it both in Israel and
abroad," said CEO Yaron Razon. 
    He noted that includes sales to Canada's Namaste, which 
bought a 10 percent stake in Cannbit in June even before the
firm receives an export permit from Israel.
    Export of medical cannabis in Israel is not yet allowed but
the government has been reviewing the matter after taking
initial steps toward creating an export policy.

 (Reporting by Steven Scheer; Editing by Maayan Lubell)
 ((steven.scheer@thomsonreuters.com; +972 2 632 2210; Reuters
Messaging: steven.scheer.thomsonreuters.com@reuters.net;
Twitter: @StevenMScheer))