Ayurcann Holdings (CSE: AYUR) this morning announced that it has entered into a joint venture with that of Bazelet. Bazelet is one of the largest licensed medical cannabis processors based in Israel.
The joint venture will see the two firms manufacture proprietary products. The arrangement will see Ayurcann become the sole Canadian manufacturer of Bazelet products, which are to be sold within both recreational and medical markets in Canada. An initial three products are to be manufactured and distributed under the arrangement, with more expected to materialize in the future.
Bazelet is one of the largest cannabis firms in Israel, where they focus on terpene-enriched cannabis oils. Currently, products manufactured by the firm are targeted towards women, elderly populations, specific ailments, and for improved sleep. The company reportedly holds IP as well pertaining to the infusion and formulation of cannabis products with terpenes.
“We are thrilled to secure this joint venture agreement which will enable us to introduce unique products into the Canadian marketplace. Getting here has taken a tremendous amount of work, but we are excited for the possibilities presented by working with global companies. 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.”
Igal Sudman, CEO of Ayurcann
Ayurcann Holdings last traded at $0.185 on the CSE.
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