Flowr Corp. Debuts In Israeli Hashish Market With First Marijuana Cargo – The Flowr (FLWPF)

Canadian cannabis company The Flowr Corporation (TSXV:FLWR) (OTCPK:FLWPF) reported this 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 Focus Medicinal Herbs Ltd., which has a supply contract with Israel IM Cannabis Corp. (NASDAQ:IMCC) (CSE:IMCC).

The first shipment consisted of two strains of premium cannabis. The delivery represents the company’s debut in the Israeli market and its first significant international export. According to the supply agreement, additional exports of premium cannabis to Israel are expected in 2022.

“We are very pleased to have completed our first shipment to Israel as part of our partnership with IMC and Focus Medical,” Darryl Brooker, Managing Director of Flowr specified. “As the Israeli medical cannabis industry continues to grow, we anticipate that the market will be an important target for us to expand our brand and distribution reach internationally. As a result, we view this first shipment and partnership as an important next step in becoming a major international cannabis producer with a globally recognized brand.”

The first shipment of marijuana was from Flowr’s K1 facility in Kelowna, British Columbia. The enterprise expects a second delivery to be available in the Israeli market in the first half of 2022.

Portugal Operations Update

This was also announced by Flowr in Portugal, its wholly owned subsidiary, Holigen 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 growing BC Black Cherry and BC Strawnana cultivars and expects to begin harvesting at its purpose-built indoor facility in Sintra, Portugal by the end of January 2022. Initial in-process testing for its medicinal cannabis point out THC content over 29%.

“Our strategy in Portugal seems to be paying off. We have been working very hard to improve operational expertise at our indoor facility in Sintra and we are now seeing the results. The EU market is starving for premium medicinal cannabis and our team in Portugal, led by Tom Flow, is on the verge of reaching a significant operational milestone for the company,” commented Brooker. “We are very excited about the near-term results in Portugal and see the EU as an undervalued and underappreciated part of our business.”

More news from The Flowr Corp:

Cannabis Movers & Shakers: Skye Bioscience, The Flowr Corp, Charlotte’s Web, Rapid Dose Therapeutics

Flowr Corp reports slight year-over-year increase in third quarter revenue and continues to develop new genetics

Berner’s Cookies teams up with The Flowr Corp. together to bring its products to the EU via Portugal

price action

Flowr Corp shares ended Thursday’s market session down 2.30% at $0.05 per share.

Photo: Courtesy of Ryan Lange on Unsplash