Marijuana Business Magazine September 2019

LINE OF BUSINESS Cultivation, processing and manufacturing HEADQUARTERS Herzliya, Israel WHY TOWATCH Israel has long been a country with cannabis promise, but that potential has often gone unfulfilled—at least in a business sense. There are dozens of Israeli cannabis companies involved in the cultivation, research and development and ancillary fields, but few have risen above their peers to gain the industry’s attention. One company that is poised to stand out is Canndoc Pharma, which has been in the Israeli cannabis industry since 2008. The company has been making moves to exploit changes in the Israeli and global cannabis landscape. Last September, Canndoc recruited former Israeli prime minister Ehud Barak to chair its board. Barak announced in June that he would stay on as chair despite forming a new political party to run in Israel’s elections this month. That’s a vote of confidence from a high-profile board member. After the Israeli government announced in January that it would allow cannabis exports, Barak told Reuters that the company, which already had produced more than 1 metric ton of cannabis that was ready for sale, would expand to 10 countries over the next two years and produce 100 metric tons of cannabis by mid-2020. Those are big promises, however, even for a politician. LINE OF BUSINESS Cultivation, manufacturing/processing and retail HEADQUARTERS Bogota and Toronto WHY TO WATCH Over the past year, Khiron has positioned itself as one of the foremost cannabis companies in Latin America, expanding into new markets and inking partnerships that give it technological know-how and brand recognition. What the company does in the next 12 months should reveal whether it will be a major global player as well as how much Latin America’s cannabis markets have (or haven’t) developed. Since listing on Canada’s TSX Venture Exchange in May 2018, Khiron has gone on an acquisition and expansion spree, acquiring Chilean cultivator DayaCann and Uruguayan cannabis company Netta International. The company also launched a CBD cosmetics brand, Kuida, that is sold in Colombia, Mexico and Peru. In April, the company made its first European move, buying Italian hemp company Canapalife. The company has also brought on top- tier talent, such as the former heads of the U.S. Drug Enforcement Administration in Mexico and Central America as well as its Boston office. The former DEA executive will lead Khiron’s security and compliance department. Former Mexican president Vicente Fox, meanwhile, joined the company’s board. But Khiron’s most important move to watch is its joint venture with Dixie Brands, a Colorado infused product company. Dixie should be able to sell roughly 100 of its products through Khiron once Latin American markets are in full swing. Depending on how it goes, that deal could serve as a blueprint for U.S. cannabis businesses with global ambitions. Khiron Life Sciences Canndoc Pharma (previously known as Intercure) Growing Momentum 80 Marijuana Business Magazine | September 2019