InterCure Congratulates Germany on Cannabis Reform, Expanding its Global Footprint
23 March 2024 - 2:58AM
Business Wire
- InterCure provides an update following
recent Cannabis Reform in Germany
- Expects to launch its first products in
Germany in the coming months
- The Company continues to closely watch
developments surrounding Cannabis rescheduling in the U.S.
InterCure Ltd. (NASDAQ: INCR) (TASE: INCR) (dba Canndoc)
("InterCure" or the "Company"), the leading medical
cannabis company outside of North America, is thrilled to
congratulate The Federal Republic of Germany for the passing of the
“CannG” Cannabis Act, which is expected to take effect on April 1,
2024. On the backdrop of this monumental development, InterCure
expects to launch a series of products in Germany in the coming
months.
While the Cannabis Act deals with all types of cannabis, it is
poised to have a uniquely significant impact on the medical
cannabis sector. By excising cannabis from the list of prohibited
substances in the German Narcotics Act, the reform makes
prescribing medical cannabis to patients substantially easier and
more cost-effective for doctors at greater scale and not only as a
last resort. Thus, this reform is set to dismantle major barriers
that have historically hindered patient access to cannabis-based
treatments. This sets the stage for expected significant expansion
of the medical cannabis market in Germany.
Alexander Rabinovitch, CEO of InterCure, expressed his
excitement about the legislative changes in Germany, stating, "We
are thrilled by the recent reform passed in Germany and are
optimistic about the global shift that is taking place. As a leader
in pharmaceutical Cannabis, we are closely watching these
developments including the potential rescheduling of Cannabis in
the United States, and plan to advance our global footprint,
expecting to launch our products in Germany in the coming months.
The strong foundation we have built over the past 15 years serves
us today as we continuously execute our mission of providing
high-quality, pharma-grade medical cannabis products to patients
around the world."
About InterCure (dba Canndoc) InterCure (dba
Canndoc) (NASDAQ: INCR) (TASE: INCR) is the leading, profitable,
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. 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: https://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, 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 Israel
and 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.
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InterCure Ltd. Amos Cohen, Chief Financial Officer
amos@intercure.co
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