Thousands of traders are getting a 90% win-rate trading options! Click Here to See How!
Tikun-Olam Cannbit (TASE: TKUN) confirmed Thursday it has entered an exclusive partnership agreement with Israeli nutritional supplement company Ambrosia-SupHerb to research and develop, produce and market various products that will combine cannabis and mushroom components in the nutritional supplement market.
Ambrosia-SupHerb, Israel's largest nutritional supplement manufacturer, is engaged, among other things, in the production of nutritional supplements as well as being the marketer of Solgar's nutritional supplements in Israel.
As part of the partnership agreement, a pilot will be launched, led by the RD teams of the parties working together to develop the products, including combining components of additional nutritional supplements such as vitamins, minerals, amino acids and plants.
Immediately after signing the agreement, the companies will apply to the Medical Cannabis Unit to receive approval for research and development activity in Israel.
FREE MASTERCLASS! Learn How to Trade Stocks Options! Register Now!
"We view the combined power of empirical research and extraction expertise that we have along with the product development and shipping abilities of SupHerb in the nutritional supplement market in Israel and worldwide as perfect synergy,” Avinoam Sapir, general manager of Tikun Olam-Cannbit said. “This is a market with tremendous sales potential, as we have seen the mushroom market flourishing in the East and growing in the US."
Sapir thanked Ambrosia SupHerb for “their trust in our vision and their decision to make this strategic investment."
Photo: Courtesy of Rick Proctor on Unsplash
For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook Instagram. For the best interviews, stock market talk videos, subscribe to Benzinga Podcasts and our YouTube channel.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.