Sep 2, 2023
Achieved record revenues of NIS 209 million ($75 million)1 for the first half of 2023 Annualized revenue run
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seen from United Kingdom
Achieved record revenues of NIS 209 million ($75 million)1 for the first half of 2023 Annualized revenue run
Intercure Makes $35m Acquisition As It Continues International Expansion
Intercure Makes $35m Acquisition As It Continues International Expansion
Israel’s largest licensed cannabis producer Intercure has announced plans to acquire medical cannabis operator Better for $35m, sending its share prices spiking over 5% for the second time in a week. Intercure has signed a definitive agreement with Cann Pharmaceutical, which trades as Better, to acquire 100% of the company. The deal, which is expected to be finalised at the start of Q3 2022…
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Cookies Stores To Open On UK And Continental High Streets In Coming Weeks
Cookies Stores To Open On UK And Continental High Streets In Coming Weeks
INTERCURE, which calls itself the ‘most profitable and fastest growing’ cannabis company outside of North America, is poised to open a number of cannabis shops on UK high streets. The Israeli firm has set its sights on London as it prepares for a European expansion with US giant Cookies, with plans to open both stores and medical cannabis pharmacies in the UK and Austria early next year. The roll…
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ARK invests $8m in Israeli cannabis co InterCure
ARK invests $8m in Israeli cannabis co InterCure
ARK Exchange Traded Funds (ETF) has invested $8 million in Israeli cannabis company InterCure (TASE: INCR). This is part of ARK’s recent spending spree on Israeli companies after setting up an Israeli ETF. InterCure is set to merge with a SPAC (special purpose acquisition company) on the Canadian stock exchange, and ARK now has a 2.4% stake in InterCure worth NIS 775 million. ARK bought the…
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Israeli Firm InterCure Setting Up Facility in Canada
Israeli cannabis firm InterCure (TLV: INCR) is expanding into Canada and it will team up with a local producer to grow medicinal marijuana there. The company hit headlines last year when it installed former Israeli Prime Minister Ehud Barak as chairman on a $10,000 a month salary. It has since cemented its status as the most prominent firm in the country’s burgeoning medicinal cannabis industry. Now it has decided to launch an operation in Canada via its wholly-owned subsidiary, Canndoc Ltd. A filing to the Tel Aviv Stock Exchange this week announced plans to construct a Canadian indoor grow facility. Canndoc will own 51% of the venture and contribute its growing experience, while the unnamed Canadian partner will hold 49% and provide the resources needed to construct it and distribute the cannabis it yields. Roei Zerahia, chief executive at Canndoc, said that this was preferable to exporting Israeli cannabis to Canada due to the shipping costs involved. Israel has a much more established marijuana industry than Canada and it recently legalized exports. That has set it up as a genuine rival to Canada in export markets, particularly Europe, which is on its doorstep. Canadian cannabis producers are busy extending their tentacles across the globe, setting up operations in Latin America, Europe, Australia and Asia as they aim to dominate the global marijuana market. However, we are now starting to see companies in other countries fighting back by launching operations in Canada. InterCure recently filed an initial public offering and announced plans to trade on the Nasdaq, a move that would give Israel’s medicinal marijuana industry its first foothold on Wall Street. InterCure has a market cap of 1 billion shekels ($280 million), but Barak and co think it could have a similar valuation to Tilray’s $4.8 billion after listing on the Nasdaq. The firm has embarked upon a U.S. roadshow in a bid to drum up interest among investors, and they may be interested to learn of its plans north of the border. Back in Israel, it recently set up a second production facility to help meet its ambitious plans for international expansion. Read the full article
Israel's Former Prime Minister Enters the Cannabis Industry
Israel's former prime minister Ehud Barak has just accepted the position of chairman for medical marijuana company InterCure. #potstocks #marijuana Read the full article
Ehud Barak egy orvosi kannabisszal foglalkozó cég elnöke lett
Ehud Barak egy orvosi kannabisszal foglalkozó cég elnöke lett
Orvosi kannabiszt gyártó cég elnöki székét foglalta el Ehud Barak volt izraeli miniszterelnök – jelentette a The Times of Israel című angol nyelvű honlap.
Barak az InterCure nevű, orvosi kannabisszal foglalkozó cég globális üzleti kampányának vezetéséért – havonta mintegy negyven órás munkáért – tízezer dolláros (közel hárommillió forintos) fizetést fog kapni. Cserébe Izrael legnagyobb orvosi…
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