Irwin Simon, a chairman and CEO of the largest Canadian cannabis company in the world, Tilray Brands TLRY, recently took a business and personal trip to Israel amid the war with Hamas and to Germany, as legal cannabis seems to be on the horizon.
In an exclusive interview with Fox Business, Simon shared his experience.
“This would be one of my most memorable trips in my lifetime. I’ve traveled all over the world. I’ve been to Israel, many, many times, and this was the trip that I’ll never forget,” Simon said.
Why did he travel to Israel at this time?
“I went to meet with other CEOs of consumer package good companies,” he said. “I went to meet with our partners there that we do business with. I went there to see with my own eyes what really happened. Because watching it on Fox, watching it on CNN is one thing, but had to be there.”
Simon shared that even though many people were worried about him traveling to the war zone, his family was 100% in agreement with his trip.
First Stop – Germany
Simon traveled to Germany and visited the Parliament to discuss cannabis, as German legalization comes closer to the finish line and Tilray is well-positioned to profit there.
Tilray Europe is headquartered in Germany and could see significant benefits if the measure is passed. According to a recent report by cannabis analyst Pablo Zuanic, another cannabis giant among the best-positioned companies to benefit from Germany legalizing retail distribution, possession and home growth of recreational marijuana is Aurora Cannabis ACB.
On Monday, Tilray shares were climbing on above-average trading volume as the cannabis investors were anticipating a vote from German lawmakers on the legalization measure. Even though the final vote ended up delayed until next year, Tilray shares closed Monday’s market session 8.42% higher and rose another 0.24% after hours.
While meeting with numerous members of the German Parliament to discuss marijuana, Simon noticed that “each one was wearing Israeli flag with Ukrainian flag.”
Next Stop Israel
Simon has been to Tel Aviv many times and has been doing a lot of business in the country. After all, Israel is considered one of the global leaders in cannabis and is a pioneer in medical marijuana research.
Watch Simon’s interview on Fox.