InterCure Wins Cannolam Arbitration Proceeding
2023年11月1日 - 5:39AM
InterCure Ltd. (NASDAQ: INCR) (TASE: INCR) (dba Canndoc)
("
InterCure" or the
"
Company"), the leading medical
cannabis company in Israel and outside of North America, reports
today that, further to the Company’s press release issued on August
31, 2023, in which the Company reported that the Tel Aviv-Jaffa
District Court dismissed the lawsuit that filed against the Company
by minority shareholders of its subsidiary, Cannolam Ltd.
(“
Cannolam”), and the parties agreed on a binding
arbitration process (the “
Arbitration”), in which
the amount owed to the Company and the parties will be determined
and paid as part of a full separation process, the Company hereby
reports that the Arbitration has been concluded, and the arbitrator
has decided in favor of the Company on most of the claims presented
to him by the Company, while rejecting almost all of the claims
presented by the minority shareholders.
Additionally, the arbitrator determined that
Cannolam owes InterCure significant amounts (tens of NIS millions),
which InterCure has claimed as part of the Arbitration, in
recognition of InterCure's ongoing support to Cannolam. The
minority shareholders did not transfer their part of the Cannolam
debt owed to InterCure, and as a result, in accordance with the
Arbitration decision, their shares in Cannolam were transferred to
InterCure.
As a result, as of the date hereof, InterCure
now holds 100% of the shares in Cannolam, which has the exclusive
right to use the “Cookies™” brand in Israel and other territories.
Cannolam is the leading pharmacy chain specializing in dispensing
pharmaceutical-grade cannabis. It operates under Givol™ and
Cookies™ branded locations.
The CEO of InterCure, Alexander Rabinovich,
commented: "We are pleased to announce the end of the arbitration
process and acceptance of InterCure claims. Now, together with
Cookies™ and our international partners, we will continue to
develop Cannolam as the leading pharmacy chain for medical cannabis
patients in Israel and worldwide. I am proud of our multi religion
team of dedicated pharmacists and employees of the Givol™ chain who
determinedly support patient communities across Israel during these
challenging war time. Together we will win."
About InterCure
(dba
Canndoc)
InterCure (dba Canndoc) (NASDAQ: INCR) (TASE:
INCR) is the leading 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. Cannolam a wholly
owned subsidiary of InterCure, is the leading pharmacy chain for
medical cannabis patients in Israel and worldwide. 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 more information, visit: http://www.intercure.co.
Forward‐Looking
Statements
This press release may contain forward-looking
statements. Forward-looking statements may include, but are not
limited to, statements relating to the security events in Israel
and the effects of the current terrorist attacks by Hamas, and the
war and hostilities between Israel and Hamas and Israel and
Hezbollah, as well as statements, other than historical facts, that
address activities, events or developments that InterCure intends,
expects, projects, believes or anticipates will or may occur in the
future. These statements are often characterized by terminology
such as “believes,” “hopes,” “may,” “anticipates,” “should,”
“intends,” “plans,” “will,” “expects,” “estimates,” “projects,”
“positioned,” “strategy” and similar expressions and are based on
assumptions and assessments made in light of management’s
experience and perception of historical trends, current conditions,
expected future developments and other factors believed to be
appropriate. Forward-looking statements are not guarantees of
future performance and are subject to risks and uncertainties that
could cause actual results to differ materially from those
expressed or implied in such statements. Many factors could cause
InterCure’s actual activities or results to differ materially from
the activities and results anticipated in forward-looking
statements, including, but not limited to, the following: the
Company’s success of its global expansion plans, its continued
growth, the expected operations, financial results business
strategy, competitive strengths, goals and expansion and growth
plans, expansion strategy to major markets worldwide, the impact of
the COVID-19 pandemic, the impact of the war in Ukraine and the
conditions of the markets generally. Forward-looking information is
based on a number of assumptions and is subject to a number of
risks and uncertainties, many of which are beyond InterCure’s
control, which could cause actual results and events to differ
materially from those that are disclosed in or implied by such
forward-looking information. Such risks and uncertainties include,
but are not limited to: changes in general economic, business and
political conditions, changes in applicable laws, the U.S.
regulatory landscapes and enforcement related to cannabis, changes
in public opinion and perception of the cannabis industry, reliance
on the expertise and judgment of senior management, as well as the
factors discussed under the heading “Risk Factors” in InterCure’s
Annual Information Form dated March 31, 2023, which is available on
SEDAR at www.sedar.com, and under the heading “Risk Factors” and
“Cautionary Note Regarding Forward-Looking Statements” in the
registration statement on Form 20-F, filed with the Securities
Exchange Commission on May 1, 2023. InterCure undertakes no
obligation to update such forward-looking information, whether as a
result of new information, future events or otherwise, except as
expressly required by applicable law.
Contact:
InterCure Ltd.Amos Cohen, Chief Financial
Officeramos@intercure.co
Intercure (NASDAQ:INCR)
過去 株価チャート
から 4 2024 まで 5 2024
Intercure (NASDAQ:INCR)
過去 株価チャート
から 5 2023 まで 5 2024