Ayurcann Holdings Corp (CSE:AYUR) struck a new joint venture agreement with Israel’s largest medical cannabis company to manufacture its proprietary cannabis products in Canada.
Bazelet Nehushtan Ltd has launched numerous different terpene-enriched oils that are specifically geared towards women’s health, seniors and pain relief, among other indications.
Under the agreement, Toronto-based Ayurcann will manufacture all Bazelet products to be sold in Canada’s retail and medicinal cannabis markets, starting with three different products.
READ: Ayurcann expansion continues with partnership to supply and manufacture products for Joints Cannabis
Ayurcann CEO Igal Sudman said in a statement that the company was “thrilled” to secure the joint venture, telling shareholders it will allow the firm to introduce “unique products” into Canada.
“Getting here has taken a tremendous amount of work, but we are excited for the possibilities presented by working with global companies,” Sudman said.
“We recently had the opportunity to get to know the leadership at Bazelet, and from that came a new partnership, which may have a tremendous impact on both companies … We are open to and continue to look for those mutually beneficial industry-focused partnerships. By working together, the industry can grow to new heights in terms of quality and profitability.”
Ayurcann is focused on providing pharma-grade products for the adult use and medical cannabis industry in Canada. It provides proprietary services including ethanol extraction, formulation, product development and custom manufacturing.
The company said that it is working to expand domestic operations while simultaneously pursuing international opportunities in the cannabis industry.
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