JERUSALEM, Sept. 25 (Xinhua) -- Former Israeli Prime Minister Ehud Barak will be appointed chairman of medical company InterCure, a company that focuses on medical cannabis business, the Israeli company announced Tuesday.
Barak will be employed for 40 hours a month, receive a salary of 10,000 U.S. dollars per month, and will be entitled to an optional plan of owning 5 percent of the company's shares at an average exercise price of about 0.89 U.S. dollar per share.
"Medical cannabis has proven its potential to help improve the lives of many patients around the world," said Barak. "Major countries have adopted it as a recognized medical treatment."
Barak added he will lead the company's international growth strategy and will take an active part in its business development "with the goal of making it a global leader in its field."
InterCure was founded in 1994 and is based in the coastal city of Hadera. In the coming days, it is expected to change its name to "Canndoc," after completing the acquisition of this Israeli company, which manufactures cannabis-based products.
