Intercure Ltd. Announces Voting Results from its Annual and Special Meeting of Shareholders

Rhea-AI Summary

Intercure Ltd. held its Annual and Special General Meeting of shareholders on September 15, 2022, in Bnei Brak, Israel, where all proposals in the management information circular dated August 10, 2022, were approved. The four nominees for directorship were elected, including Ehud Barak and Alexander Rabinovitch, with a significant majority of votes for each. The meeting also approved the new Israeli Option Plan and various stock option grants and compensation increases for executives. The meeting's voting results are available on SEDAR.

Positive

• All proposals at the Annual and Special General Meeting were approved.
• All four nominees were elected as directors with over 95% approval.
• Approval for new Israeli Option Plan and stock option grants enhances executive incentives.

Negative

• None.

HERZLIYA, Israel, Sept. 16, 2022 (GLOBE NEWSWIRE) -- Intercure Ltd. (the “Company”) announces today the results of the Annual and Special General Meeting of shareholders of the Company, held on Thursday, September 15, 2022, in Bnei Brak, Israel (the “Meeting”). At the Meeting, all of the proposals set forth in the Company’s management information circular dated August 10, 2022 (the “Circular”) were approved by the required majority of the shareholders.

Each of the four nominees listed in the management information circular prepared in connection with the Meeting were elected as directors of the Company. The Company received proxies and votes at the Meeting as set out below:

Nominee	Votes For	% of Votes For	Votes Withheld	% of Votes Withheld
Ehud Barak	17,819,294	99.76%	225	0.001%
Alexander Rabinovitch	17,144,620	95.99%	359	0.001%
David Salton	17,818,147	99.74%	359	0.001%
Alon Granot	17,818,039	99.75%	359	0.001%

Ordinary resolutions approving the Company’s new Israeli Option Plan, the extension of the exercise period of stock options granted to the Chairman of the Board, the grant of 250,170 stock options to certain employees and service providers on August 31, 2021, the grant of 460,000 stock options to the Chief Executive Officer of the Company on June 21, 2022 and the compensation increase for the Chief Executive Officer of the Company were also each passed by a majority of the votes represented at the Meeting, as well as the majority of the disinterested votes represented at the Meeting.

Details of the voting results on all matters considered at the Meeting are available in the Company’s report of voting results, which is available under the Company’s profile on SEDAR at www.sedar.com.

About InterCure (dba Canndoc)

InterCure (dba Canndoc) (NASDAQ: INCR) (TSX: INCR.U) (TASE: INCR) is the leading, profitable, and fastest growing cannabis company outside of North America. Canndoc, a wholly owned subsidiary of InterCure, is Israel’s largest licensed cannabis producer and one of the first to offer Good Manufacturing Practices (GMP) certified and pharmaceutical-grade medical cannabis products. InterCure leverages its market leading distribution network, best in class international partnerships and a high-margin vertically integrated "seed-to-sale" model to lead the fastest growing cannabis global market outside of North America.

For further information, please contact:

Amos Cohen, Chief Financial Officer

Tel: +972-58-666-8686

FAQ

What were the results of Intercure's September 2022 shareholder meeting?

At the September 15, 2022 meeting, all proposals were approved, including the election of four directors and the new Israeli Option Plan.

Who were the elected directors at Intercure's meeting?

The elected directors included Ehud Barak, Alexander Rabinovitch, David Salton, and Alon Granot.

What percentage of votes were for Intercure's nominees?

The nominees received approval ratings above 95%, with Ehud Barak receiving 99.76% of votes for.

What stock options were granted during the meeting?

The meeting approved the grant of 250,170 stock options to employees and 460,000 stock options to the CEO.