Update regarding Better Transaction
24 November 2022 - 8:30AM
InterCure Ltd. (NASDAQ: INCR) (TSX: INCR.U) (TASE: INCR) (dba
Canndoc)("
InterCure" or the
"
Company") is hereby providing an update that
further to the announcement from February 16, 2022, regarding the
signed agreement with Cann Pharmaceutical Ltd.
(“
Better”) to acquire 100% of Better’s shares (the
“
Transaction”), which as set out in the Company’s
reports is subject to certain closing conditions, as of this date,
there are some fundamental disagreements between the parties
(including open matters which were not concluded at the time of the
signing the agreement), in addition to a disconnect between the
parties, which pose doubts as to whether the Transaction will in
fact be completed.
About InterCure (dba
Canndoc)InterCure (dba Canndoc) (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. 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
StatementsThis 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 (including its expansion into Europe), 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, the expected annualized revenue for 2022, its
continued growth, the expected operations, financial results
business strategy, competitive strengths, goals and expansion and
growth plans, expansion strategy to major markets worldwide and the
impact of the COVID-19 pandemic. 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. 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
Subversive Acquisition LP’s final long form prospectus dated March
15, 2021, which is available on SEDAR at www.sedar.com, and in
other filings that InterCure has made and may make with the SEC in
the future. The forward-looking statements contained in this press
release are made as of the date of this press release and reflect
InterCure’s current views with respect to future events, and
InterCure does not undertake and specifically disclaims any
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Contact:
InterCure Ltd.Amos Cohen, Chief
Financial Officeramos@intercure.co
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