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Intercure Ltd. (dba Canndoc) (Nasdaq: INCR) (TSX: INCR.U) (TASE: INCR) is a leading, profitable, and rapidly expanding cannabis company operating outside of North America. As a prominent player in the global cannabis market, Intercure is the parent company of Canndoc, Israel's largest licensed cannabis producer. Canndoc is renowned for being one of the first companies to offer Good Manufacturing Practices (GMP) certified and pharmaceutical-grade medical cannabis products.
Intercure's diversified operations include the cultivation, production, and distribution of pharma-grade cannabis products. Their offerings are supplied to a wide range of clients, including hospitals, pharmacies, research institutions, and government organizations, ensuring a broad and impactful reach.
Intercure operates through two primary segments: the Cannabis segment and the Biomed segment. Notably, the Cannabis segment is the major revenue driver, reflecting the company's strategic focus and expertise in this area. Intercure's business model is vertically integrated from 'seed-to-sale,' allowing for high margins and effective quality control.
Recent achievements include leveraging its market-leading distribution network and forming best-in-class international partnerships. These initiatives facilitate the delivery of top-quality cannabis products globally.
For more detailed and up-to-date information, investors and interested parties are encouraged to visit the official website at Intercure.co.
InterCure reported strong financial results for Q4 2021 with record revenue of $33 million, a 29% sequential growth, and annual revenue of $89 million, marking a 230% increase year-over-year. Adjusted EBITDA reached $9 million, reflecting a 140% rise from the previous year. The company maintains a solid balance sheet with $89 million in cash. Positive developments include the expansion into Europe, signing a definitive agreement to acquire Better, and a partnership with Charlotte's Web targeting the new CBD market. InterCure continues to capture approximately 30% of Israel’s medical cannabis market.
InterCure (NASDAQ: INCR) announced a delay in publishing its audited financial statements due to minor technical audit matters. The Company expects the audited results to align with previously announced preliminary results. These statements are to be made available on SEDAR before trading closes on TSX on April 5, 2022. InterCure, operating Canndoc, is the largest licensed cannabis producer in Israel and is recognized for its GMP-certified medical cannabis products.
InterCure reported strong financial results for the fourth quarter and fiscal year 2021, achieving record revenues of $33 million and $89 million respectively, representing year-over-year growth of almost 200% and over 230%. The Adjusted EBITDA also showed significant progress with $9 million in Q4 and $23 million for the year, reflecting increases of 140% and 250% YoY. The company maintained a solid cash position of $89 million and experienced six consecutive quarters of positive cash flow, with expectations of continued revenue growth into 2022.
InterCure (NASDAQ: INCR) will release its fourth quarter fiscal 2021 financial results on April 4, 2022, before market open. The company, recognized as Israel's largest licensed cannabis producer through its subsidiary Canndoc, is the fastest-growing cannabis firm outside North America. InterCure will host a live conference call and webcast at 8:30 am ET the same day to discuss these results, with details available via their website. This announcement highlights InterCure's ongoing growth and leadership in the cannabis market.
InterCure Ltd (NASDAQ: INCR) announced the release of its fourth quarter 2021 financial results on March 31, 2022, with a subsequent webcast scheduled for April 4, 2022, at 8:30 a.m. ET. The company, a leading cannabis producer in Israel, highlights its growth strategy and recent milestones. InterCure operates through its subsidiary, Canndoc, which is the largest licensed cannabis producer in Israel. The company emphasizes its high-margin, vertically integrated model and market-leading distribution network.
InterCure and Clever Leaves have formed a multi-year agreement to cultivate, market, and distribute pharmaceutical-grade medical cannabis across the EU, Australia, and Israel. InterCure will utilize Clever Leaves’ high-THC cannabis flowers to expand its product offerings in various medical markets, particularly in Israel. This partnership aims to leverage both companies' strengths in distribution and product development, enhancing their international reach and compliance with local regulations. The collaboration highlights a commitment to quality and patient needs in the medical cannabis sector.
InterCure Ltd (NASDAQ: INCR) announced that its CEO, Alexander Rabinovitch, will participate in the ROTH Capital’s 34th Annual Conference on March 15, 2022. He will engage in a One-on-One Fireside Chat at 9:30 AM PT. InterCure, operating under the brand Canndoc, is a leading cannabis company outside North America and Israel’s largest licensed cannabis producer. The company focuses on GMP-certified, pharmaceutical-grade medical cannabis products and utilizes a vertically integrated 'seed-to-sale' model and strong international partnerships.
InterCure has signed a definitive agreement with Altman Health to enter the CBD wellness market in Israel, following a recent government decision to remove CBD from the Dangerous Drugs Act. This partnership aims to manufacture and distribute high-quality CBD products, including those of Charlotte's Web. InterCure, known for its pharmaceutical-grade medical cannabis, is well-positioned with a robust distribution network. Altman Health, a leader in nutritional supplements, has extensive retail presence, ensuring significant market access for CBD products in Israel.
InterCure has announced the acquisition of Cann Pharmaceutical Ltd. ("Better") for USD 35 million, aiming to enhance its position as a leader in the pharmaceutical-grade medical cannabis market. This strategic acquisition is expected to boost InterCure's global reach and product offerings, leveraging Better's unique strains and cultivation expertise. The transaction is structured as a share swap, maintaining a valuation of USD 10 per share, which aligns with previous transactions. Closing is expected in Q3 2022, pending regulatory approvals.
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