Intercure Ltd. Ordinary Shares - INCR STOCK NEWS

InterCure achieves record revenues of NIS 209 million ($75 million) for H1 2023, representing YOY growth of over 14%. Adjusted EBITDA of NIS 30 million ($11 million) and cash from operations of NIS 35 million ($13 million) in Q2. Strong balance sheet with over NIS 116 million ($42 million) cash and financial assets of NIS 71 million ($25 million). Sustained market share growth and collaboration agreement with Mike Tyson's brand. New Israeli medical cannabis regulations expected to increase demand. Lawsuit and separation process with Cannolam have negative impact. Commercial launches of GMP products in UK and Germany expected in Q4 2023 and Q1 2024.

On April 24, 2023, InterCure Ltd (NASDAQ: INCR) announced a lawsuit filed by minority shareholders of its subsidiary, Cannolam, in Tel Aviv-Jaffa District Court. This legal action arises from disagreements regarding Cannolam's management. InterCure has conducted a preliminary review of the claims and believes they lack legal merit. The company is exploring legal options, including potential counterclaims, to protect its interests. Established as the leading medical cannabis company outside North America, InterCure operates through its subsidiary Canndoc, which is Israel’s largest licensed cannabis producer, known for its GMP-certified products.

InterCure, a leading global cannabis company, has signed a collaboration agreement with TYSON 2.0, the premium cannabis brand founded by boxing legend Mike Tyson. The agreement provides InterCure with an exclusive distribution license to cultivate, manufacture, sell, and distribute TYSON 2.0 products in various key international markets, including Israel, Australia, the UK, Germany, and Switzerland.

This strategic partnership aims to expand InterCure's presence in rapidly growing legal cannabis markets. According to EuroMonitor International, the Israeli and German cannabis markets are projected to reach sales of $3.4 billion and $3 billion by 2027, respectively. The partnership will also allow InterCure to use TYSON 2.0's intellectual property and genetics for production. The agreement's terms are subject to change as a definitive agreement is finalized.

InterCure Ltd (NASDAQ: INCR) has announced a rescheduled conference call to discuss its financial results for the year ending December 31, 2022. The call will now take place on April 4, 2023, at 4:30 P.M. Eastern time, instead of the originally planned date of April 3. The change was necessitated by unforeseen technical issues. InterCure is noted as the leading and fastest-growing cannabis company outside North America, with its subsidiary, Canndoc, being Israel's largest licensed cannabis producer. The company aims to maintain its position in the rapidly growing global cannabis market.