BLK MKT cannabis will soon become available for patients in Jerusalem and Tel Aviv.
On Wednesday, Avant Brands (TSX: AVNT) (OTC-QX: AVTBF) (FRA: 1BU0) and IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) announced that they had signed an international trademark licensing agreement providing IM with the exclusive rights to launch the BLK MKT brand in Israel.
The companies say the new agreement is a significant milestone in their mutually beneficial business arrangement within the Canadian and Israeli medical cannabis markets.
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According to the terms of the new deal, a subsidiary of Avant will license the BLK MKT brand to an IM subsidiary in Israel for use on the packaging of IM’s medical cannabis merchandise. That packaging will contain pot crafted by Avant to be sold to IM affiliates.
The companies also say the introduction of BLK MKT cultivars into the Israeli market will strengthen their mutually beneficial relationship and IM’s business model in Israel.
“We are excited to strengthen our highly successful partnership with IMC,” said Norton Singhavon, CEO of Avant Brands.
“This agreement represents a major milestone with respect to expanding our products and brands in international markets.”
Avant is a cannabis company headquartered in Kelowna, B.C. with several production facilities throughout Canada.
“Medical cannabis patients in Israel are demanding the highest quality indoor cannabis products. By evolving our partnership with Avant, we continue to improve our supply chain and ability to provide ultra-premium, quality product to the Israeli medical cannabis market,” said Oren Shuster, CEO of IM Cannabis.
IM Cannabis is an international cannabis company with operations in Canada, Israel and Germany. The organization has a commercial partnership with Focus Medical Herbs Ltd. for Israeli distribution of medical pot.
Avant stock increased by 7.89 per cent today to $0.20 on the Toronto Stock Exchange.
IM Cannabis stock dropped by 1.69 per cent to $0.58 on the Canadian Securities Exchange.
