- MPX International (MPXI) subsidiary, Canveda, has entered a production and distribution agreement with Panaxia Pharmaceutical Industries
- The agreement is for the packaging and distribution of medical cannabis in Israel, under Canveda’s medical brand, Salus BioPharma
- MPX will ship its cannabis strains to Israel, while Panaxia will be responsible for product quality control, packaging, and distribution
- The first 100-kilogram flower shipment will head to Israel once a Health Canada export permit is acquired
- MPX International (MPXI) is up 3.70 per cent and is currently trading at C$0.14 per share
MPX International (MPXI) subsidiary, Canveda, has signed an agreement with Panaxia Pharmaceutical Industries Israel.
Panaxia is the largest manufacturer and home-delivery distributor of medical cannabis products in Israel. The company trades on the Tel Aviv Stock Exchange, and uses cannabis flower to create a variety of cannabinoid-based products.
These products are standardised, pharma-grade, smokeless, and contain measured dosages of cannabid. They include sublingual tablets, slow-release tablets, pastilles, rectal suppositories, vaginal suppositories, skincare ointments, topical patches, and oral spray inhalers.
The agreement with Canveda is for the packaging and distribution of medical cannabis in Israel. MPX will ship its Sativa and Indica cannabis strains to Israel, where Panaxia will oversee quality control, packaging, and distribution.
The resulting products will be marketed and sold under Canveda’s medical brand, Salus BioPharma. They will be sold to patients with various conditions, including PTSD, chronic pain, cancer, epilepsy, Parkinson’s, Alzheimer’s, anorexia, and HIV/AIDS.
The first 100-kilogram shipment of cannabis flower will travel to Israel, once a Health Canada export permit is acquired. All the necessary import permits from Israel have already been issued.
MPX International’s Chairman, President, and CEO, W Scott Boyes, commented on the company subsidiary’s agreement with Panaxia.
“MPXI has a long-standing relationship with Panaxia, and welcomes the opportunity to market our brand in Israel as part of our international cannabis strategy.
“Panaxia is a major player in the Israeli market and an emerging participant in the global cannabis space, and we are honoured to be able to work with them on this initial project,” he said.
MPX International (MPXI) is up 3.70 per cent and is trading at C$0.14 per share at 12:11pm EDT.
