Panaxia Labs Israel Ltd. announced that it was selected by the government of Cyprus to supply premium oils it has developed under the Panaxir brand for medical cannabis patients in the country. In recent months, talks between the government of Cyprus and Panaxia had been ongoing, and the company received final approval for an order and import permits for the products. As part of the agreement, Panaxia will initially export two types of medical cannabis oil in different concentrations from its premium line, which are produced according to EU-GMP requirements and according to strict pharmaceutical standards. In the future, the option of expanding the range of products will be examined.