TEL AVIV, Israel, June 20, 2018 /CNW/ -- The Israeli Medical Cannabis Agency (IMCA) has granted the Solbar Group with initial permits to cultivate and establish a fully controlled, indoor cultivation facility. The designated building is an existing facility on the Cannassure site, in Ashdod and is approximately 4000 square meters in size.
The building, owned by parent company- Solbar, was once used for the production of isolated soy proteins for the food industry and is fully secured. The company will newly outfit the building to create a state-of-the art, fully controlled, growing facility for producing large scale, consistent, top-quality medical grade cannabis.
Cannassure believes that growing cannabis in a controlled indoor space will lead to faster production, higher quality and more consistent yields, by better controlling the growing environment and factors such as light, CO2, humidity and so forth.
Indoor cannabis cultivation is a resource-intensive process. Cannassure will offset these high costs by connecting to Solbar's infrastructure and benefiting from low cost electricity supplied by Israel's largest, private electricity producer and by powering most of its operation with low-cost natural gas.
Nir Peles, Chairman of CannAssure commented: "We are thrilled to have all the initial, regulatory permits enabling us to vertically integrate our medical cannabis operation from cultivation and extraction to distribution. We will examine the benefits of yields produced from our controlled indoor cultivation in addition to the current Israeli medical cannabis supply that, to the best of our knowledge, is produced in greenhouses, today. We believe that the experience and production capabilities of Cannassure will ensure safe, and premium quality, medical cannabis, for the improvement of health and wellbeing of people in Israel and worldwide."
Just recently, Direct Capital Investments (TASE: DCI-M) announced its proposed merger with CannAssure Ltd., which was founded by Nir Peles and Shimon Barkama. Cannassure is set to start producing in the second half of 2019. With their newly received GSP and cultivation permits from the Ministry of Health and the Israeli Medical Cannabis Agency, they are starting to research new cannabis extraction methods in their analytical lab at Solbar and preparing their production facility to create standardized medical cannabis products of the highest quality, in large scale supply. Cannassure's development of innovative cannabis extraction methods is supported by the Israel Innovation Authority.
About Cannassure Ltd.
CannAssure was founded in order to address an unmet need in the medical cannabis market- the supply of superior safety profile cannabis extracts and their derivatives. Our soon to be launched products offer fully labelled, consistent, and standardized cannabis extracts and Active Pharmaceutical Ingredients (APIs). To guarantee the highest quality, all of our products are produced under strict Good Manufacturing Practice (GMP) standards.
CannAssure™ is built upon the vast experience of Solbar Food Technologies Ltd. For over 50 years Solbar has perfected the science of extractions from botanical sources and developed APIs for the nutraceutical industry. As a global manufacturer, Solbar has developed high-scale production capabilities as well as advanced process engineering knowhow and operates an extensive distribution network. Solbar has an established Quality Assurance culture (it is ISO, HACCP, FSSC certified) and its processes guarantee the highest level of quality throughout each of their product's life cycle.
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SOURCE CannAssure LTD