RYAH Group, Inc. announced that it has entered into a memorandum of understanding (the "MOU") with Bazelet Pharma Ltd. and affiliates (together, "Bazelet"). The collaboration is aimed at servicing Bazelet's patients using the RYAH Smart Inhalers and data analytics, once certified as a medical device in Israel,with the goal of providing safe and accurate patient inhalation therapies in plant medicine in Israel. The executed MOU initiates a collaboration that anticipates Bazelet acting as the sponsor of the Israel Ministry of Health ("IMH") medical device application for the RYAH Smart Inhaler (known as the "Regulatory Phase").

Upon successful certification, the MOU stipulates that the parties will negotiate a definitive commercial distribution agreement (the "Definitive Agreement") intended to appoint Bazelet as the exclusive distributor of the RYAH Smart Inhaler and cartridges (the "Commercial Phase") for patient medical therapies in Israel. The Definitive Agreement, if entered into, would be for a term of up to 5 years (which includes both regulatory and commercial phases) with annual performance benchmarks among other commercial details, to be agreed upon by the parties in the Definitive Agreement. Under this initiative, the parties are striving to capture at least 5% of the medical cannabis market in Israel.