We’re proud to announce that our client, Vonetize PLC, is the first ever recreational cannabis company to be listed to trade on the Tel Aviv Stock Exchange. Our Capital Markets department acted on behalf of client to merge the company to a public shell of Vonetize company, under a creditors’ settlement. Our trusted team, led by Senior Partner, Ilan Gerzi, Partner, Nir Zohar, and Senior Associate, Lior Ostashinsky and Associate, Nahum Mittelman, accompanied the process from the beginning, including submitting a proposal to the Company’s creditors under the Creditors’ Settlement Procedure and escorting the Company until the full conditions of the settlement have been fulfilled and the settlement was completed.
Subsequently, after obtaining the court’s approval of the creditors’ settlement, the team acted on several levels, including preparing a broad outline of the activity which was published to the public, investment agreements, dealing with the relevant regulatory authorities in Colorado and obtaining the ISA’s permission to enter recreational cannabis activity into the Tel Aviv Stock Exchange, an unprecedented event. In addition, the stock exchange approval for the listing of Vonetize shares was granted and thereby its shares came back from suspension and returned to be traded on TASE.
After the company will return to trade in the TASE, the company will aim to develop and increase its activity in Colorado and other States in the US, which will be accompanied closely by our Pearl Cohen team.