- IM Cannabis (CSE:IMCC) applauds the new medical cannabis reforms that were announced by the Israeli Ministry of Health
- The new regulations will remove many of the heavy regulations in the sector, making medical cannabis more accessible to patients as well as boosting export
- Starting Dec. 29, patients in Israel with a wide range of diseases and medical conditions will no longer be required to obtain a license to receive medical cannabis
- IM Cannabis Corp. opened trading at C$1.17 per share
IM Cannabis (CSE:IMCC) applauds the new medical cannabis reforms that were announced by the Israeli Ministry of Health.
The Israeli Ministry of Health announced the anticipated medical cannabis regulatory reform on Monday. The new regulations will remove many of the heavy regulations in the sector, making medical cannabis more accessible to patients as well as boosting export.
Starting Dec. 29, patients in Israel with a wide range of diseases and medical conditions will no longer be required to obtain a license to receive medical cannabis. Patients will receive a prescription similar to those for other prescription medications.
The company noted that the export process will be simplified, which could facilitate the export of Israeli grown cannabis to Europe, along with the associated EU-GMP certification process.
IMC’s CEO, Oren Shuster, believes this will change the face of the medical cannabis market in Israel. He said the Israeli Ministry of Health is clearly putting patient needs first, with the overhaul of the cannabis regulation.
“There are two aspects of the new reform which are particularly pertinent to our business. First, by moving from cannabis licenses to cannabis prescriptions and enabling the use of cannabis as a first-line treatment, we anticipate a significant growth in patient numbers. Second, by allowing the growers to separate the post-harvest process from the growing process, it could facilitate EU GMP certification, enabling export to Germany, the largest medical cannabis market in Europe, where we are a top 10 player,” Shuster said in a statement.
IM Cannabis Corp. is an international cannabis company supplying premium cannabis products to medical patients in Israel and Germany.
IM Cannabis Corp. opened trading at C$1.17 per share.
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