patience will be well rewarded.. I'll stick with a beer buzz for now.
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"In Europe, pharmacy-based distribution models may limit demand to some extent, but the region still faces a severely constrained supply and enormous pent-up demand. Prohibition Partners estimates that the market could be worth north of $136 billion by 2028, or about four times larger than the projected value of the U.S. cannabis market.
Gearing Up for a Rebound
The Israeli Ministry of Economy signed a Free Export Order on May 13, 2020 that implements an earlier decision to approve cannabis exports. The order is scheduled to go into effect in June and will allow licensed producers of medical cannabis in Israel to apply for an export permit to ship products to international markets-including Europe.
"Supply in both the domestic and European markets is lagging behind demand, especially in Europe, as more countries work on less restrictive regulations," says Isracann Biosciences Inc. (CSE: IPOT) (OTC Pink: ISCNF) CEO Darryl Jones. "Our marketing strategy aims to leverage Israeli-branded products as fundamentally superior."
In June, Israel's Police Minister also backed the easing of enforcement of existing laws following a joint statement by the Prime Minister and Defense Minister outlining their intent to advance legislation "to resolve the issue of decriminalization and legalization"-ostensibly referring to recreational cannabis use in the country.
While the statements didn't provide any specific timetable for the moves, experts believe that it could take about four months to advance legislation. The new rules could permit cannabis use for adults over 21 and cannabis sales would take place in designated shops. As in other markets, advertising would be restricted and an educational fund would be set up.
Isracann Biosciences, Israel's only publicly-traded cannabis pure-play, has already tasked regional consultants with ensuring applications for an export permit will be made as soon as possible. Management believes that the country's unique environment, advanced agro-economics and history of cannabinoid innovations will drive adoption." |
