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Gillerman retires: "Investors got down to earth"

Danny Gillerman resigns as chairman of the medical cannabis company Pharmoken - only about two years since joining. Gillerman: "Complements two years of activity, in which I learned a lot about the field and I will continue to follow him with great interest.

The hype that existed two years ago is no more, and it seems that investors have gone down to the ground. "

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• Cannabis

• Medical Cannabis

• Danny Gillerman

• Blackstone

Roast Greenberg

Monday, 08 November 2021, 08:27 Updated: 08:41

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Green retirement: Danny Gillerman, former Israeli ambassador to the UN, resigns as chairman of the medical cannabis company 'Pharmaken', only two years since joining.

This was reported by the company.

Gillerman will now focus on his activities as a representative of the American giant fund 'Blackstone', which manages about $ 700 billion in assets, and is establishing a branch in Israel for the benefit of investments that are mainly expected (at this time) in the fields of technology.

Gillerman's departure comes about two months after another senior member of the cannabis industry used a refuge chair - directly to the position of captain in the Israeli representative of the Boeing company, as president - Maj. Gen. (Res.) Ido Nehushtan, former Air Force commander, announced his departure last September. Rabbi of the Cannabis Medical Cannabis Company.

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Danny Gillerman. Will focus on the activities of the Blackstone Fund in Israel, most likely on investments in technology (Photo: Walla! NEWS system, Or Ravid)

Danny Gillerman, outgoing chairman of Pharmoken

, told Walla! Money: "I found in 'Pharmoken' honest and creative people, whom I really like and appreciate. I complete with them two years of activity in which I learned a lot about the field, and I will continue to follow it with great interest.

The hype that existed two years ago is no more, and it seems that investors have gone down to the ground. But the field remains very interesting, especially if legalization is implemented. "Unfortunately, the congestion that began to form in me, among other things due to the establishment of the Israeli branch of 'Blackstone', forced me to give up my activities at 'Pharmoken'."

, added: The company wishes him great success in his new position as chairman of Blackstone Israel. We are working with him to find a new company chairman, who will take up the position upon Gillerman's retirement at the end of November this year.

"Pharmacan has made significant progress in terms of its scope during Gillerman's tenure as chairman, and we are confident that he will continue to accompany it from the outside even after taking up his new position. We are currently promoting collaborations in the cosmetics, paramedical and medical cannabis products.

Since Gillerman was appointed chairman of Pharmaken, the company's share has fallen by 63.27%, leading the company to trade worth NIS 67.2 million. Sources in the cannabis market claim that the company's refusal until recently to import medical cannabis products has hurt its activities "R.

The cannabis industry.

The flower that winked at investors lost some of its freshness (Photo: ShutterStock)

Those who do manage to make a profit

Those who do benefit from the import of medical cannabis are the companies Togder Pharma and Kentek - the representative of the Canadian cannabis giant Aurora. The latter has become one of the largest importers in Israel, and last July alone it imported about 1.8 tons of medical cannabis. The penetration of its products into the local market even led it to examine the establishment of local activity.

, who serves as financial advisor to Kentuck: "Miguel Martin, CEO of Aurora, arrived in Israel and made a statement that his company wants to enter the Israeli market." "Israel's cannabis, from the Cannabis Industry Forum at the Manufacturers' Association.

Another beneficiary of the import option, as raised at the same conference, is Togdar Pharma, which, despite its holding on an Israeli farm that is supposed to be harmed by the process, has received immediate approval."R. (Medical Cannabis Unit in the Ministry of Health) for importing medical cannabis inflorescences to Israel from its Ugandan company.

The price of cheap agricultural growth in Africa will enable Israeli society to compete with all manufacturers and importers in Israel, in terms of price.

In addition, Togdar has begun exporting its products from Africa to Germany as well, and if they are absorbed in the latter, then its Israeli activity will grow accordingly.

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