UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
Report
of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16
Under
the Securities Exchange Act of 1934
For
the Month of October 2023
001-40614
(Commission
File Number)
INTERCURE
LTD.
(Exact
name of Registrant as specified in its charter)
85
Medinat ha-Yehudim Street
Herzliya,
4676670, Israel
Tel:
+972 77 460 5012
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form
20-F ☒ Form 40-F ☐
Exhibit
Index
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
|
Intercure
Ltd. |
|
|
|
Date:
October 31, 2023 |
By: |
/s/
Amos Cohen |
|
|
Amos
Cohen |
|
|
Chief
Financial Officer |
Exhibit
99.1
InterCure
Wins Cannolam Arbitration Proceeding
NEW
YORK, and HERZLIYA, Israel — October 31, 2023 — 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 Officer
amos@intercure.co
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