Yes, it seems like the Israeli/Hamas conflict is having apositive effect on the Isreali cannabis sector. A good time for a CEO to make a business trip into a war zone - and of course, for strictly compassionate reasons offer supply services to the cannabis companies operating in the country. (Canadian Decibel and IM Cannabis are two that come to mind).
It's ironic that Zenabis, acquired by Hexo - but subsequently lost to SNDL through bankruptcy proceedings - owned an EU-GMP certified facility in N.B. as well as Zenpharm in Malta - through which Hexo sold cannabis to......Israel.
Zenabis in fact accounted for about 90% of Hexo's international sales. (which weren't that huge - but still)
Odd that Tilray did not choose to 'compete' or bid in the Zenabis proceeding, thus losing the facilties to SNDL. The existing sales agreements and supply chains that Zenabis had with Israeli firms would have proven very beneficial as it turns out.
As an aside, it's apparent - and a bit amusing - that the two CEOs below, in separate interviews, had teh same talking points:
“Israel is a small country, and although we continue to take a business-as-usual approach, every one of us is directly impacted, either personally or through our family and loved ones,” said Yftah Ben Yaackov, the company’s CEO and director. “In Israel, the cannabis and pharmaceuticals industries are part of the critical infrastructure sector, and I am very proud of how the team is coming together to work through this horrific situation.”
IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) is a leading medical cannabis company with operations in Israel and Germany. CEO Oren Shuster said, “There are no words to describe the scale of the horrors that are starting to come to light. Israel is a small country, every single one of us is directly impacted, either personally or through our family and loved ones. IMC supports and stands with all the Israelis that are affected by this war. We also fully support the Israeli Defense Forces. In Israel, Cannabis is defined as a critical infrastructure sector, just like any other pharmaceutical business. I am very proud of how the team is coming together to work through this horrific situation.”