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has entered into a letter of intent to sell its European activities, a move the Toronto-and-Glil-Yam-based cannabis company says it expects to reduce its debt by CAD$10.5 million.
Announced June 18, 2026, the transaction is structured to keep the company's Israeli operations intact while improving its working capital position and clearing space for new investments the company has previously signaled it is pursuing.
What a Letter of Intent Actually Means A letter of intent — commonly abbreviated as LOI — is a non-binding agreement signaling that two parties have reached broad terms on a deal, with binding contracts to follow.
It matters because an LOI marks the point at which a transaction moves from internal discussion to formal, structured negotiation.
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