InterCure Ltd.

NEW YORK, and HERZLIYA, Israel, Jan. 31, 2024 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ: INCR) (TASE: INCR) (dba Canndoc) ("InterCure" or the "Company"), the leading medical cannabis company in Israel and outside of North America, announced today that it has entered into a share purchase agreement (the “Agreement”) with the shareholders of Leon Pharm Ltd. (the “Sellers”, and “Leon Pharm”, respectively) to purchase Leon Pharm, a leading, Israel-based pharmacy chain specializing in dispensing medical cannabis in Israel, by way of a share purchase of all of the issued and outstanding share capital of Leon Pharm (the “Transaction”). At the closing, InterCure will cause between 1,755,000 to 1,845,000 shares of the Company to be issued to the Sellers, depending on the share price of the Company at the time of completion. Established in 1988, Leon Pharm is one of the leading private pharmacy chains in Israel, specializing in the customization of pharmaceutical products and cannabis for patients along with providing a high level of professional service. The entry into the Transaction is consistent with the Company’s strategy of expanding its market-leading distribution network, towards the new medical cannabis reform announced by the Israeli Ministry of Health. The Transaction is expected to be accretive to the Company’s business model. In connection with the Agreement, each of the Sellers agreed that any Company shares issued pursuant to the Transaction will be subject to certain lock-up restrictions, as well as additional exercise restrictions that have been agreed by the parties. The Transaction is expected to close upon the fulfillment of certain closing conditions, including, among other things, the approval of the Israel Medical Cannabis Agency (IMCA) and the Israel Competition Authority. The CEO of InterCure, Alexander Rabinovich, stated: "The acquisition of Leon Pharm is another step towards the implementation of the new medical cannabis reform and the introduction of HMOs. The leading team of Leon Pharm complements and expands our leading position and together we are well prepared to serve the demand and the unique needs of the patient communities in Israel in light of the war events." 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.

Maridose debuted its own CRO group that will work with researchers developing cannabis-based drugs for preclinical and clinical trials. Maridose, a DEA-licensed cannabis manufacturer, has launched its own CRO group to work with researchers developing cannabis-based drugs for preclinical and clinical trials. The company, which was founded in 2015 and is based in Maine, offers a suite of services to pharmaceutical and biotech firms, academic institutions, authorized cannabis companies and other entities legally permitted to conduct research on schedule 1 drugs. Maridose's CRO supports all phases of drug development services from initial research to final commercialization, the company said in a Dec. 11 press release. “As the only DEA-licensed manufacturer providing comprehensive CRO services, the launch of our CRO group marks a significant milestone for the research community,” CEO Lisa Rich-Milan said in the release. “We are dedicated to fostering advancements in cannabis-based medicine and are committed to supporting researchers and organizations striving to make breakthroughs in this rapidly evolving field.” The U.S. medical marijuana market was estimated to be worth more than $9 billion in 2021 and is expected to grow at a compound annual growth of 10% between 2022 and 2030, according to Global Market Insights. Drugmakers like Novartis have dipped a toe into the space in recent years. Another example is Teva subsidiary Salomon, Levin and Elstein, which in 2019 inked a deal with Canndoc, a publicly traded producer of GMP cannabis products, to distribute to Israeli hospitals, health maintenance organizations and pharmacies.

Better claims that InterCure, with which it was to merge, damaged Better's assets and thwarted the merger deal. Better is seeking to compel InterCure to complete the merger and/or to pay a compensation of up to $35 million. TEL AVIV, Israel , June 14, 2023 /PRNewswire/ -- Medical cannabis company Better is suing InterCure, a company headed by Ehud Barak, for $35 million. A lawsuit has been filed against InterCure and its management, adding to a series of lawsuits recently filed against the company's conduct. According to Better, the lawsuit stems from InterCure's alleged attempts to push competitors like Better and other cannabis companies out of the market. Better claims that InterCure has a history of misrepresenting facts to acquisition companies for the purpose of merging and abusing its power in the deal. Better also claims that InterCure has the bad faith of engaging in predatory activities that drain the financial reserves of the acquisition targets. The lawsuit addresses the actions taken by InterCure's executives during the negotiations with Better, allegedly including making false representations, exerting pressure to transfer commercial materials, damaging production capabilities and harming the company's customers, assets, and means. Better is asking the court for a number of remedies outlined in its lawsuit, as compensation for InterCure's damages to Better during negotiations. For further details and the full lawsuit: Ariel Hoffert Minkovsky Media [email protected] +972549109313 SOURCE Cann Pharmaceuticals Ltd.