Thursday, 12 December 2019

Merchavia signs MoU for investment in medical cannabis sector

27 November 2018 | News

This step is part of the implementation of the company's business strategy to invest in breakthrough technologies.

Merchavia Holdings and Investments, an Israeli investment company specializing in early-stage life science sector companies, announced that it has signed a non-binding Memorandum of Understanding (MoU) in an Israeli company developing a medical device that will allow the measured and precise consumption of medical cannabis, according to a pre-defined dosage and without the need of heating. According to the MoU, the company will invest a total of $400,000 in exchange for shares representing about 20% on a fully diluted basis.

This step is part of the implementation of the company's business strategy to invest in breakthrough technologies, with major worldwide potential and in high growth markets. As part of this strategy, and following the company's announcement one month ago, about its intention to begin investing in companies in the Cannabis field, when the deal becomes a binding agreement, Merchavia will invest for the first time in the aforementioned company.

As part of its investment in companies in the medical cannabis sector, Merchavia will realize its capabilities in the sector through life sciences and technology investments and fulfill its investment policy in this field, as well as its international connections with leading enterprises, which are also in the field of medical cannabis with an emphasis on R&D companies. The company is conducting talks with several other companies with R&D activities related to medical cannabis.

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