Welcome to our dedicated page for Intercure Ltd. news (Ticker: INCR), a resource for investors and traders seeking the latest updates and insights on Intercure Ltd. stock.
Intercure Ltd (INCR) delivers pharmaceutical-grade medical cannabis through its vertically integrated operations, maintaining GMP certification across production facilities. This news hub provides investors and healthcare professionals with essential updates on regulatory developments, research advancements, and strategic partnerships.
Access timely announcements about cultivation innovations, international distribution expansions, and compliance milestones. Our curated collection features earnings reports, product approvals, and biomed research breakthroughs that shape the medical cannabis sector.
Key updates include manufacturing process enhancements, new market entries, and collaborations with healthcare institutions. Bookmark this page for structured access to operational developments and quality assurance initiatives that maintain Intercure's position as a global cannabis industry leader.
InterCure (NASDAQ: INCR) announced leadership changes and financing updates. Ehud Barak will step down as Chairman effective February 13, 2025, to be succeeded by current CEO Alexander Rabinovich, who has led the company's growth over the past five years.
The company successfully completed a financing round of NIS 66 million (approximately $18.2 million) to support the recovery of the Nir Oz Facility, with potential additional proceeds of up to NIS 107 million ($29.8 million) through warrant exercises. The funding includes investments from key shareholders and a loan agreement with a leading Israeli bank.
InterCure is executing its war recovery plan following the October 7, 2023 events that impacted its Nir Oz facility. The company expects additional compensation from Israeli authorities for war-related damages and is focused on rebuilding its pharmaceutical cannabis portfolio while expanding operations in Germany, the UK, and Australia.
InterCure (NASDAQ: INCR) has secured funding commitments of NIS 66 million (USD 18.2M), potentially increasing to NIS 107 million (USD 29.8M), to support the recovery of its Nir Oz facility damaged during the war. The funding includes a private placement with key investors, including CEO Alexander Rabinovich and shareholders Yaron Yakobi and Tzahi Hagag, who will each hold over 5% stake. The placement involves issuing 7,349,896 ordinary shares at NIS 4.83 per share and warrants for additional shares at NIS 5.70.
Additionally, the company secured a NIS 30 million (USD 8.3M) loan from a leading Israeli bank. InterCure expects to receive substantial compensation from Israeli authorities for war-related damages and plans to expand its facility post-war in collaboration with the Tkumah administration.
InterCure (NASDAQ: INCR) reported its financial results for the first half of 2024, with revenue of NIS 126 million and Adjusted EBITDA of NIS 21 million (17% of revenues). The company achieved its 16th and 17th consecutive quarters of profitability despite challenges from the October 7, 2023 terrorist attack and the war in Gaza. InterCure is receiving compensation from Israeli authorities for damages to its Southern Facility.
The company announced an expansion of its partnership with Cookies™ to Germany, expecting to launch products there in Q4 2024. InterCure anticipates double-digit growth in the second half of 2024 due to expected launches in German and UK markets. The company continues to expand its medical cannabis pharmacy chain, now with 24 active locations.
InterCure (NASDAQ: INCR) has expanded its strategic partnership with Cookies, a globally recognized cannabis brand, to Germany. The agreement allows InterCure to cultivate, manufacture, import, and distribute Cookies' branded products in 8 licensed pharmacies across Germany through Cookies Corners. This expansion follows their existing partnerships in the UK, Austria, and Israel.
InterCure will produce Cookies' products at its EU-GMP manufacturing sites, including future offerings like live resin, live rosin, and vapes. The partnership aims to capitalize on Germany's growing medical cannabis market, which saw a 400% increase in prescriptions from March to June 2024 following the passage of the 'CanG' Cannabis Act.
This collaboration combines Cookies' diverse portfolio of over 70 cannabis cultivars and 2,000 products with InterCure's established presence as a leading vertically integrated medical cannabis company outside North America.
InterCure (NASDAQ: INCR, TASE: INCR), also known as Canndoc, announced its participation in the Canaccord Genuity 8th Annual Global Cannabis Conference. Scheduled for May 23, 2024, at the Westin NY Grand Central Hotel in New York City, the event will feature senior management teams from leading cannabis companies. InterCure's CEO, Alex Rabinovitch, will take part in panel discussions, fireside chats, and one-on-one meetings. The conference aims to foster engagement and share insights among industry leaders.
InterCure announced its FY2023 results, with revenues of NIS 356 million and adjusted EBITDA of NIS 61 million. The company's cash on hand is NIS 111 million. Despite challenges from a terrorist attack and war in Gaza, InterCure remains profitable and expects growth in 2024. The company plans to launch products in Germany and closely monitors U.S. cannabis rescheduling.
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