InterCure Commences Trading on NASDAQ Under the Symbol “INCR”
September 01 2021 - 12:00AM
InterCure Ltd. (NASDAQ: INCR) (TSX: INCR.U) (TASE: INCR) (dba
Canndoc) (the “Company”) is pleased to announce the Company’s
common shares will commence trading today on The NASDAQ Global
Market (the “Nasdaq”) under the ticker symbol “INCR”.
The Company’s common shares will continue to
trade on the Toronto Stock Exchange (the “TSX”) under the symbol
“INCR.U” and the Tel Aviv Stock Exchange (the “TASE”) under the
symbol “INCR.TA”.
“This is a significant milestone in InterCure’s
journey which began 13 years ago,” said Ehud
Barak, chairman of InterCure, adding, “the Company is well
positioned to continue realizing its vision of leading the
international cannabis market and to benefit from expected
regulatory changes as more countries recognize the medicinal
benefits of the cannabis plant. Listing for trading on one of the
world's leading stock exchanges will increase our access to both
retail and institutional investors. This will ensure our ability to
further accelerate our business operations, improve the quality of
life for patients around the world and create value for the Company
and its shareholders."
Alexander Rabinovitch, CEO of
InterCure stated: “InterCure is the profitable, fastest growing
cannabis company globally outside of North America, and we are
proud to be listing on the Nasdaq. This milestone will ensure
InterCure is able to further develop relationships with the
investment community and broaden our shareholder base.”
InterCure Investment
Highlights
- A leading, vertically integrated medical cannabis
operator
- Focus on pharmaceutical-grade, GMP-certified branded
products
- Branded product offerings with 100% retail
penetration
- Rapidly growing legal medical cannabis international
market
- Most countries outside North America adopted a medical approach
to cannabis
- Israel is the leading GMP cannabis market in the
world
- Substantial runway for growth in recreational
cannabis
- Multiple growth engines
- Scaling up Israel’s leading medical cannabis dispensing
pharmacy chain
- Global expansion duplicating InterCure's winning model to
additional countries
- Positioned to capitalize on upcoming CBD & adult-use
cannabis market in Israel
- Profitable, fastest growing cannabis company outside
North America
- Record Q2 ‘21 revenue growth of 4 times YoY and 37%
sequentially
- EBITDA1 margin of 26% and positive operational cash flow for
fourth consecutive quarter
- Key Partnerships with leading cannabis brands and
suppliers
- Tilray
- Organigram
- Cookies
- Fotmer Life Science
- Charlotte’s Web
About InterCure (dba
Canndoc)
InterCure (dba Canndoc) (NASDAQ: INCR) (TSX:
INCR.U) (TASE: INCR) is the leading 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 maintain its position as Israel’s leading
cannabis company as well as to drive further growth through global
expansion.
For more information, visit:
http://www.intercure.co
Non-IFRS Measures
This press release makes reference to certain
non-IFRS financial measures. Adjusted EBITDA, as defined by
InterCure, means earnings before interest, income taxes,
depreciation, and amortization, adjusted for changes in the fair
value of inventory, share-based payment expense, impairment losses
(and gains) on financial assets, non-controlling interest and other
expenses (or income). This measure is not a recognized measure
under IFRS, does not have a standardized meaning prescribed by IFRS
and is therefore unlikely to be comparable to similar measures
presented by other companies. InterCure’s method of calculating
this measure may differ from methods used by other entities and
accordingly, this measure may not be comparable to similarly titled
measured used by other entities or in other jurisdictions.
InterCure uses this measure because it believes it provides useful
information to both management and investors with respect to the
operating and financial performance of the company. A
reconciliation of Adjusted EBITDA to an IFRS measure (revenue),
which is incorporated by reference to this press release, is
available in Intercure’s MD&A for the period under the heading
“Results of Operation”, available under the Company's profile on
SEDAR at www.sedar.com.
Forward-Looking Statements
This press release may contain forward-looking
information within the meaning of applicable securities
legislation, which reflects InterCure’s current expectations
regarding future events. The words “will”, “expects”, “intends” and
similar expressions are often intended to identify forward-looking
information, although not all forward-looking information contains
these identifying words. Specific forward-looking information
contained in this press release includes, but is not limited to:
the Company’s future revenue growth and results, the positive
consequences of the listing of the Company’s shares on the Nasdaq,
the success of its global expansion plans, its continued growth,
the expected operations, financial results business strategy,
competitive strengths, goals and expansion and growth plans and the
expansion strategy to major markets worldwide. 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
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” and
“Cautionary Note Regarding Forward-Looking Statements” in the
registration statement on Form 20-F, filed with the Securities
Exchange Commission on August 16, 2021.. 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.
Contacts:
InterCure Ltd.Amos Cohen, Chief Financial
Officeramos@canndoc-pharma.com
Investor and Media Relations:KCSA Strategic
CommunicationsInterCure@kcsa.com Tel: 212-896-1233
1 This is a non-IFRS financial measure and does not have a
standardized meaning prescribed by IFRS, please see “Non-IFRS
Measures” below
Intercure (TSX:INCR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Intercure (TSX:INCR)
Historical Stock Chart
From Sep 2023 to Sep 2024