Intercure Ltd. Ordinary Shares - INCR STOCK NEWS

InterCure (NASDAQ: INCR) has expanded its strategic partnership with Cookies, a globally recognized cannabis brand, to Germany. The agreement allows InterCure to cultivate, manufacture, import, and distribute Cookies' branded products in 8 licensed pharmacies across Germany through Cookies Corners. This expansion follows their existing partnerships in the UK, Austria, and Israel.

InterCure will produce Cookies' products at its EU-GMP manufacturing sites, including future offerings like live resin, live rosin, and vapes. The partnership aims to capitalize on Germany's growing medical cannabis market, which saw a 400% increase in prescriptions from March to June 2024 following the passage of the 'CanG' Cannabis Act.

This collaboration combines Cookies' diverse portfolio of over 70 cannabis cultivars and 2,000 products with InterCure's established presence as a leading vertically integrated medical cannabis company outside North America.

InterCure (NASDAQ: INCR, TASE: INCR), also known as Canndoc, announced its participation in the Canaccord Genuity 8th Annual Global Cannabis Conference. Scheduled for May 23, 2024, at the Westin NY Grand Central Hotel in New York City, the event will feature senior management teams from leading cannabis companies. InterCure's CEO, Alex Rabinovitch, will take part in panel discussions, fireside chats, and one-on-one meetings. The conference aims to foster engagement and share insights among industry leaders.

InterCure announced its FY2023 results, with revenues of NIS 356 million and adjusted EBITDA of NIS 61 million. The company's cash on hand is NIS 111 million. Despite challenges from a terrorist attack and war in Gaza, InterCure remains profitable and expects growth in 2024. The company plans to launch products in Germany and closely monitors U.S. cannabis rescheduling.

InterCure (NASDAQ: INCR) announced preliminary results for the full year of 2023, with estimated annual revenue of NIS 351 million and EBITDA over NIS 50 million. Despite challenges from a terrorist attack and war in Gaza, the company expects sequential double-digit quarterly growth in 2024. InterCure continues to expand globally and launch products in Germany, showing resilience and profitability in a tough year.

InterCure (INCR) expects to launch products in Germany following the passing of the 'CannG' Cannabis Act, which will make prescribing medical cannabis easier and more cost-effective. The company anticipates significant growth in the German medical cannabis market.

InterCure Ltd. provides an update on the status of its facility in Southern Israel after being impacted by the war situation declared by the Israeli government. The Company is working on restoring the site and seeking compensation for damages caused by the conflict. Despite challenges, InterCure remains committed to supporting patients and the community while focusing on its mission to bring relief through medical cannabis.

InterCure Ltd. (NASDAQ: INCR) has entered into a share purchase agreement to acquire Leon Pharm Ltd., a leading pharmacy chain specializing in dispensing medical cannabis in Israel. The acquisition is expected to expand InterCure's market-leading distribution network in line with the new medical cannabis reform announced by the Israeli Ministry of Health. The transaction is anticipated to be accretive to the company's business model and is subject to certain closing conditions, including regulatory approvals. The CEO, Alexander Rabinovich, expressed confidence in the acquisition's ability to serve the unique needs of patient communities in Israel.

InterCure Ltd., the leading medical cannabis company in Israel, has concluded an arbitration process in which the arbitrator ruled in favor of the company on most claims. The arbitrator determined that Cannolam owes InterCure significant amounts, and as a result, InterCure now holds 100% of the shares in Cannolam. Cannolam is the leading pharmacy chain specializing in dispensing pharmaceutical-grade cannabis and has the exclusive right to use the 'Cookies' brand in Israel and other territories.

InterCure Ltd. addresses the impact of the security situation in Israel on the company and its employees.