Plantis Farm undertakes to provide Pharmoken with the results in accordance with the annual growth plan to be agreed between the companies, in a minimum amount of about 4 tons over a period of 3 years.
Pharmoken Global, a pioneer in the medical cannabis industry in Israel, which grows, manufactures, develops and sells medical cannabis products in Israel, reports the signing of an agreement with Plantis Agro.
Plantis, has established a growing facility in Moshav Keshet in the north of the country, using innovative technology and will grow selected varieties, similar to the leading Jungle Dreams and Mountain Dreams varieties from Pharmoken, which meet the GAP-IMC standard, in dedicated greenhouses according to an annual growing plan agreed with the company. The agreement will enter into force subject to the receipt of the permanent licenses from the HQR by the breeding farms.
Plantis Farm undertakes to provide Pharmoken with the results in accordance with the annual growth plan to be agreed between the companies, in a minimum amount of about 4 tons over a period of 3 years. Initial sales of commercial crops at the Plantis Farm are expected to be made in the fourth quarter of 2022. Pharmoken estimates that total revenues throughout the term of the agreement will amount to NIS 60 million.
This site is expected to be the third facility where Pharmoken grows its unique varieties, in addition to the company’s site in Tzipori and the breeding farm in Ein Hatzeva. The agreement will allow the expansion of Pharmoken’s production capacity to about 7 tons per year