Two Israeli businessmen with strong U.K. links have joined forces to deliver high-quality cannabis terpenes to European consumers.
The partners say the partnership will see CiiTech’s ‘terpene formulas meet the highest standards required for the U.K. market’. These have been designed specifically for use with the VapePod, Kanabo’s patented device which was the first to be approved for medical use by the Israeli Ministry of Health.
‘Promote Sleep And Boost Mood’
Terpenes are essential plant oils that deliver distinctive flavors and smells and include the likes of linalool – also present in lavender – and pinene, in conifers. They are also said to confer therapeutic effects, with cannabis terpenes being used to promote sleep, fight inflammation and boost mood.
The London-based company initiates in-house research and created Provocan which was recently selected as best in class among U.K. CBD brands. He said trust in CBD brands is ‘crucial’ and collaboration with partners such as Kanabo can help achieve that.
He added: “There’s a real growth in consumer understanding of the terpenes. “We believe our proven formulas created with Kanabo for the VapePod device deliver an exceptional level of CBD innovation and efficacy not previously seen in the industry.”
Raising Capital in London
Kanabo recently announced plans to list on the London Stock Exchange in what will be an effective reverse takeover with U.K. shell company Spinnaker Opportunities PLC. Kanabo’s CEO Avihu Tamir says the London move will support efforts to raise £4 million ($4.8 million) for clinical trials and the launch ‘over-the-counter’ products in Europe.
In the joint press release he said: “As terpene-based CBD formulas gain greater recognition, the Kanabo collaboration with CiiTech to create targeted terpene formulas for our patented VapePod device is paving the way forward for non-THC medical cannabis products.”
On its website CiiTech says it chose to base itself in the U.K. as it has an open-minded approach to the CBD industry and can act as gateway into the European markets.