From the Earth Seeks to Be the First American Cannabis Company to Join Tel Aviv Stock Exchange
Company Finalizes Term Sheet to Complete a Reverse Takeover of KMN Capital
LOS ANGELES, July 16, 2019 /PRNewswire-PRWeb/ -- From The Earth ("FTE", or the "Company"), a full spectrum U.S. cannabis lifestyle company founded by Kintu Patel, Jayson Quinones and Dan Zaharoni, today announced that it has finalized a Term Sheet to complete a reverse takeover (the "RTO") of KMN Capital (TASE: KMNK), a publicly held Israeli company. The transaction marks the initial stages of From The Earth's entrance into the Tel Aviv capital markets through the RTO. Israeli investment firm Radhan, through its CEO Eden Ozeri and Founder Yuval Barak, have acted as financial advisor for From The Earth with attorneys Ilanit Landesman Yogev and Niv Sivan, partners in Herzog Fox & Neeman (HFN), as the Company's legal team. Radhan and HFN will continue in their capacities through the RTO.
On July 9, 2019, KMN Capital filed an immediate report with the Tel Aviv Stock Exchange (TASE) disclosing the execution of the term sheet with FTE and intent to complete the RTO in the upcoming months. For more information about this transaction, please see here.
Dan Zaharoni, CEO of From The Earth, commented, "Israel has embraced cannabis research and development for decades and cannabis-related technology available in that country is among the best in the world. We can't imagine a better place for the continued growth of From The Earth and there is no limit to what we can achieve on the Tel Aviv Stock Exchange."
Mr. Zaharoni continued, "As a dual US-Israeli citizen, I was able to tap into a deep network of Israeli investors and entrepreneurs who understand the value of cannabis today and in the future as we sought like-minded partners for From The Earth. Although small on an international scale, the history of the Israeli economy in general and the Tel Aviv Stock Exchange in particular is phenomenal. Billion-dollar companies regularly emerge from Israel along with some of the brightest minds in the world. We believe the resources available in Israel will allow From The Earth to become a formidable power in the global cannabis industry."
For more information on From The Earth, please visit http://www.fromtheearthinc.com.
SOURCE From the Earth
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