InterCure and Cookies Launch Flagship Retail Location in Vienna, Austria
21 June 2022 - 10:40PM
InterCure Ltd. (NASDAQ: INCR) (TSX: INCR.U) (TASE: INCR)
("InterCure" or the “Company”) announced today the successful
opening of the first flagship Cookies store in Austria, located in
the Neubau district of Vienna.
The flagship location offers Cookies' unique CBD
menu, available for the first time in Europe, as well as clothing
and life-style products. In the future, as regulations are
evolving, pharmaceutical grade medical cannabis will be available
for Austrian patients, including Cookies EU-GMP THC products.
The Vienna launch represents the spearhead of an
expansion into additional European countries, following the
successful collaboration between the two companies in the global
pharmaceutical grade medical cannabis markets, including
Israel.
"We are proud to make another big advancement in
the expansion of our winning model into Europe and deliver on our
promise to supply the highest quality and reliable cannabis
products to every territory with a supportive regulatory
framework," said InterCure’s Chief Executive Officer, Alexander
Rabinovitch. "We look forward to welcoming Austrians and the
millions of tourists who visit Vienna to the first Cookies'
location in the country. I am grateful for the amazing work of our
teams in Europe and partners at Cookies who helped make this
successful launch and look forward to the many more to come across
the continent."
“Bringing the Cookies brand and its products to
Vienna is a core part of our global expansion strategy. By
partnering with a global partner like InterCure, we can share
cannabis-based medicine and culture from California to Europe,”
said Parker Berling, President of Cookies.
About InterCure
InterCure (NASDAQ: INCR) (TSX: INCR.U) (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.
Cannolam LTD, a subsidiary of the Company, is a pioneer in medical
grade cannabis treatment and the retail arm of InterCure, currently
operating 23 pharmacies in Israel and a Cookies™ store in Vienna,
Austria. 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.
About Cookies
Cookies, founded in 2010 by Billboard-charting
rapper and entrepreneur Berner and Bay Area breeder and cultivator
Jai, is the most globally recognized cannabis company in the world.
Cookies values the power of the plant and focuses on creating
game-changing genetics. The company offers a collection of over 70
proprietary cannabis cultivars and more than 2,000 products.
Cookies also actively works to enrich communities
disproportionately impacted by the War on Drugs through advocacy
and social equity initiatives. Headquartered in San Francisco, the
company opened its first retail store in 2018 in Los Angeles and
has since expanded to over 45 retail locations in 17 markets across
54 countries. Cookies was named one of America’s Hottest Brands of
2021 by AdAge; the first cannabis brand to ever receive this
accolade. Learn more at www.cookies.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 InterCure’s objectives, plans
and strategies, 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, including with respect to the success of the
Cookies store launched in Austria and its future expansion. 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 future revenue growth
and profitability, the expected operations, financial results
business strategy, competitive strengths, expansion strategy to
major markets worldwide, the legalization of CBD in Israel and its
impacts on the Company, the impact of the COVID-19 pandemic and the
war in Ukraine. 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 Israeli, U.S. and Canadian 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 the Company Annual
Information Form dated April 5, 2022 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 April 28, 2022. 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
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/8bcdafa8-eb87-46cf-abc5-98f2477d09a2
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