Intercure Ltd. Ordinary Shares - INCR STOCK NEWS

InterCure (NASDAQ: INCR), a leading cannabis company, announced the termination of its merger agreement with Cann Pharmaceutical Ltd. ("Better") as the closing conditions were not satisfied by the set deadline of January 31, 2023. Consequently, InterCure plans to pursue the recovery of significant amounts loaned to Better. This development reflects ongoing challenges within the company while emphasizing its commitment to financial recovery. InterCure remains a prominent player in the cannabis industry, leveraging a robust distribution network and a vertically integrated "seed-to-sale" model.

InterCure has signed a licensing agreement with Praetorian Global to manufacture and distribute the cannabis brand Binske globally. The exclusive multi-year deal allows InterCure to cultivate Binske products under EU-GMP standards in key international markets including Israel, Germany, and Australia.

This partnership leverages Binske's recognized brand and product portfolio, which includes nearly 200 premium offerings. The move aligns with InterCure's strategy to expand its presence in emerging markets, drawing on Binske's expertise in product quality and consumer experience.

InterCure Ltd (NASDAQ: INCR) announced CEO Alexander Rabinovitch will participate in the Cowen 5th Annual Cannabis Conference on December 8, 2022. He will join an industry leaders panel at 9:30 AM EST and conduct one-on-one sessions by appointment. InterCure, operating as Canndoc, stands as Israel's largest licensed cannabis producer, leading the cannabis market outside North America with a high-margin 'seed-to-sale' model.

For more information, visit InterCure's website.

InterCure (NASDAQ: INCR) has provided an update on its acquisition plans for Cann Pharmaceutical Ltd. (Better). The company reports significant disagreements regarding the transaction, raising doubts about its completion. These issues stem from unresolved matters at the time of the agreement's signing. InterCure is Israel's largest licensed cannabis producer, noted for its GMP-certified medical cannabis products and a strong distribution network.

Organigram Holdings has announced a multi-year agreement with InterCure for the supply of up to 20,000 kg of dried cannabis over several years. This follows a previous agreement from June 2020, which successfully fulfilled a 3,000 kg minimum supply requirement. The new deal includes a commitment of 10,000 kg with an option for an additional 10,000 kg. As of now, approximately 2,800 kg has been delivered. This exclusive supply agreement aims to enhance collaboration and support InterCure's international expansion plans, ensuring compliance with local regulations.

Organigram is set to supply InterCure with up to 20,000 kg of dried cannabis flower over several years, following a successful 3,000 kg supply agreement fulfilled since June 2020. This new multi-year agreement includes an initial commitment of 10,000 kg with an option for an additional 10,000 kg within three years. Approximately 2,800 kg has already been delivered. The collaboration aims to support both companies’ international expansion strategies, contingent upon compliance with local regulations.

InterCure Ltd. (NASDAQ: INCR) announced strong financial results for Q3 2022, marking its eleventh consecutive quarter of profitable revenue growth. The company reported a record revenue of $39 million, a 63% year-over-year increase, with an annualized revenue run rate of $155 million. Adjusted EBITDA rose 58% to $9 million, representing 22% of revenues. The robust financial position includes $92 million in cash. InterCure continues to expand its operations, having launched over 10 new products and increased its pharmacy locations to 25.

InterCure Ltd. (NASDAQ: INCR) reported significant financial growth for Q3 2022, achieving record revenues of $39 million, a 63% increase year-over-year. This marks the eleventh consecutive quarter of growth, with an annualized revenue run rate exceeding $155 million. Adjusted EBITDA surged 85% to $9 million, representing 22% of revenues. The company also expanded its product offerings, launching over 10 new GMP SKUs and growing its pharmacy chain to 25 locations. InterCure is well-positioned for continued profitability, as indicated by a net profit run rate of $12 million and a strong balance sheet with $93 million in cash.

InterCure (NASDAQ: INCR) announces record preliminary Q3 2022 financial results, estimating revenue at CAD$39 million, a 63% increase year-over-year and a sequential growth of over 6%. This marks the eleventh consecutive quarter of profitability, projecting an annualized run rate exceeding CAD$155 million. With a robust demand for Canndoc's products, the company continues to expand its operations and product portfolio, introducing over 10 new GMP SKUs. The complete financial results will be filed on November 15, 2022.