Barney’s Farm Invests in Israeli Medical Cannabis Company

By NoCamels Team November 26, 2017 Comments

medivieNovember 26, 2017 | Dutch cannabis breeder Barney’s Farm has made a $2.1 million investment in Tel Aviv-listed medical cannabis company Medivie Therapeutic. Barney’s received around 244,000 of Medivie’s ordinary shares, allocated according to a company value of $14.2 million for Medivie, as well as a seat on the company’s board of directors. Medivie received permission to use Barney’s logo and graphics for its future product. Medivie was once a company that developed medical oral devices for pain relief and migraines, but was sold earlier this month and then partnered with an anonymous Israeli kibbutz that grew medical cannabis in Northern Israel. Medivie will pay $4 million in milestones for a 51 percent stake in a cannabis operation to be set up in Northern Israel. The company will receive 2.5 acres of land from the kibbutz for three years, with an option to receive as much as 47 more acres.

Facebook Comments
Raphael Recanati International School Banner
OurCrowd Global Investor Summit Banner
Load more