Citrine Global Corp. and Intelicanna Ltd. entered into a binding memorandum of understanding pursuant to which Intelicanna is to market and sell Cannovation's proprietary “Green Side by Side” products line in Israel. The “Green Side by Side” products line contains natural & herbal formulas from researched and science-based plants arriving in multiple form factors, including oral sprays, capsules, tablets, herbal extracts, and more, and to be offered as complementary products to medical cannabis patients.

Under the MOU, Intelicanna was granted exclusive marketing and distribution rights in Israel on a trial basis for six months. The parties contemplate that the “Green Side by Side” products line will be offered as complementary products to medical cannabis patients. The “Green Side by Side” products do not include any cannabis, cannabinoid, or cannabis-related components and are manufactured and approved for use as food supplements under the GMP standard of the Israeli Ministry of Health.

Following the six months period, the parties contemplate entering a successive agreement relating to additional collaboration options. Under the MOU Cannovation will sell to Intelicanna the “Green Side by Side” products line as agreed upon fixed prices, which may be adjusted from time to time, as needed. The MOU also contains provisions typical in transactions of this nature including confidentiality, retention of rights to intellectual property and other related matters.