Cannbit-Tikun Olam begins cannabis extracts export from Israel to Europe at the largest commercial quantity to date

TEL AVIV, Israel, Nov. 29, 2022 /PRNewswire/ -- Cannbit-Tikun Olam Israel (TASE:TKUN), Israel's medical cannabis pioneer, today announced that the first commercial shipment of medical cannabis extracts produced by the company was making its way to Germany. It marks the largest volume of cannabis extracts exported from Israel to date.

The shipment to Germany includes thousands of medical cannabis extracts vials in 10-gram packages, with various concentrations of THC and CBD, all full-spectrum the company's strains grown at its cultivation farm in the south Dead Sea, which has been awarded EU-GMP certification.

The exports are part of the agreement the company signed with German pharmaceutical company, Fette Pharma - which will market and distribute the cannabis extracts to pharmacies across Germany, Austria and Switzerland.

Additionally, after successful shipment of a variety of cannabis strains from Israel to Africa, done about six months ago, the company is continuing to export inflorescence from the company's strains that were also grown under EU-GMP conditions directly from Africa to Germany.

The export of the extracts is now possible after the company's production facility was recently awarded prestigious EU-GMP certification, which is a requirement for production, export and marketing of pharmaceuticals across Europe and also applies to medical cannabis products.

Avinoam Sapir, CEO of Tikun Olam-Cannbit, said, "A historic day for Israel's cannabis industry, especially for Tikun Olam-Cannbit! The large commercial shipment that arrived in Germany is a significant and exciting milestone for the company. Thanks to a significant investment of time and resources over the past two years, we are deploying our global strategy and opening an attractive channel for local cannabis companies."

About Cannbit – Tikun Olam Israel

Cannbit-Tikun Olam is Israel's first and leading cannabis supplier, engaged in breakthrough clinical research and recognized worldwide as a modern medical cannabis industry pioneer. The company has over 15 years of clinical research experience and over 35 clinical and preclinical studies, many of which have been published in the world's most prestigious scientific publications. The company operates down the entire length of the medical cannabis value chain, ensuring an ecosystem that combines the values of sustainability, continuity of care and standardization of the quality of its products.

For more information: Elianah@tikun-olam.org.il