Canadian Cannabis Society The Flow Company (TSXV: FLWR) (OTCPK: FLWPF) reported having has completed its first cannabis shipment from Canada to Israel.
In a statement, the company said it exported $825,000 worth of weed, under a previously announced international supply deal with Focus Medical Herbs Ltd.which has a supply contract in Israel with IM Cannabis Corp. (NASDAQ: IMCC) (CSE: IMCC).
The first shipment consisted of two premium cannabis cultivars. The shipment represents the company’s debut in the Israeli market and the first major international export. Additional exports of premium cannabis to Israel are expected in 2022 in accordance with the supply agreement.
“We are extremely happy to have made our first shipment to Israel as part of our partnership with IMC and Focus Medical”, Darryl Brooker, Flow CEO declared. “As the Israeli medical cannabis industry continues to grow, we expect the market to be an important destination for us to grow our brand and our distribution reach internationally. Accordingly, we consider this the first delivery and this partnership as an important next step in becoming a major international cannabis producer with a globally recognized brand.
The first shipment of marijuana was of Flowr’s K1 plant located in Kelowna, British Columbia. The company expects a second delivery to be available in the Israeli market in the first half of 2022.
Portugal Operations Update
Flowr also announced that in Portugalits wholly owned subsidiaryHoligen Holdings Limited expects to harvest at least 300 kilograms of indoor-grown medical cannabis in the first quarter of 2022. Holigen is in the final stages of cultivating BC Black Cherry and BC Strawnana strains and plans to begin harvesting in its purpose-built indoor facility. in Sintra, Portugal. by the end of January 2022. Initial tests underway for its medical cannabis indicate THC content levels above 29%.
“Our strategy in Portugal seems to be bearing fruit. We have worked very hard to improve the operational expertise of our indoor facility in Sintra and we are now seeing the results. The EU market is hungry for top quality medical cannabis and our team in Portugal, led by Tom Flow, is about to achieve a major operational milestone for the company,” commented Brooker. “We look forward to the short-term results in Portugal and see the EU as an undervalued and undervalued part of our business.”
More recent news from The Flow Corp:
Cannabis Movers & Shakers: Skye Bioscience, The Flowr Corp, Charlotte’s Web, Rapid Dose Therapeutics
Flowr Corp Announces Slight YoY Increase in Third Quarter Revenue and Continues Development of New Genetics
Berner’s Cookies partners with Flowr Corp. to market its products in the EU via Portugal
Flowr Corp shares closed Thursday’s trading session down 2.30% at $0.05 per share.