TORONTO, June 8, 2021 (GLOBE NEWSWIRE) – Ayurcann Holdings Corp. (CSE: AYUR) (the “Companies“or”Ayurcann“, A Canadian extraction company specializing in the processing of cannabis and hemp to produce oils and various derivatives, is pleased to announce that it has partnered with Bazelet Nehushtan Ltd. and / or Bazelet Development has entered into a joint venture agreement to manufacture its own products and Technologies Ltd. (“Bazelet“, A licensed processor of medical cannabis based in Israel.
Bazelet, one of the largest medical cannabis companies in Israel, has launched several lines of terpene-infused cannabis oils, each of which is specifically designed for one of the different indications, symptoms and personal needs. The company’s terpene-fortified products are optimized for women’s health, the needs of the elderly, specific types of pain (muscle, joint, neuropathy), and improved night sleep, etc. Bazelet has developed proprietary intellectual property for formulations that infuse cannabis extracts and dry materials with terpenes. The joint venture agreement names Ayurcann as the Canadian manufacturer of all Bazelet products for sale in the Canadian medical and recreational market.
“We are very excited about this joint venture agreement that will allow us to bring unique products to the Canadian market,” said Igal Sudman, Ayurcann’s Chairman and CEO. “It took a lot of work to come here, but we’re excited about the opportunities that working with global companies offers.”
“We recently had the chance to meet the leadership of Bazelet and this has resulted in a new partnership that can have a huge impact on both companies,” he said. “We can hardly wait to benefit from the proprietary products for the Canadian market.”
Ayurcann will initially manufacture and sell 3 different Bazelet products. “This deal gives us the opportunity to continually introduce new and exciting products to the Canadian market,” said Sudman.
“We are open to and continue to seek out these mutually beneficial industry-focused partnerships,” said Sudman. “By working together, the industry can grow to new heights in terms of quality and profitability.”
As the company continues to explore international options, it is also diligently expanding its domestic operations and continues to seek new market opportunities and domestic partnerships to grow rapidly in the cannabis industry.
For more information please contact:
Igal Sudman, Chairman and Chief Executive Officer
Ayurcann Holdings Corp.
Tel: 905-492-3322 x30
About Ayurcann Holdings Corp.
Ayurcann is a leading post-harvest solutions provider focused on providing and developing custom processes and pharmaceutical products for the adult and medical cannabis industries in Canada. Ayurcann is focused on becoming the partner of choice for leading Canadian cannabis brands by providing world-class, proprietary services such as ethanol extraction, formulation, product development and custom manufacturing.
About Bazelet Development and Technologies Ltd.
The Bazelet Group is the largest private medical cannabis group in Israel with over 10 years of experience in the cannabis market. Bazelet processes dozens of products each month in its GMP facility and then distributes them to over 140 pharmacies across the country. Bazelet sources raw materials from various cannabis farms and then makes floral products such as dried flowers and pre-rolls, as well as oils. Bazelet is a leader in developing non-generic products and leverages its strong in-house R&D team.
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