InterCure has Secured Funding of NIS 66M to support the recovery of Nir Oz Facility

Core Viewpoint - InterCure Ltd. has secured funding commitments totaling NIS 66 million (approximately USD 18.2 million), which may increase to NIS 107 million (approximately USD 29.8 million) to support the recovery and expansion of its operations post-war [10][11]. Funding and Investment - The company received a binding commitment from a leading Israeli bank for a loan of NIS 30 million (approximately USD 8.3 million) for up to 24 months, contingent on closing conditions including a private placement [1]. - Key shareholders, including CEO Alexander Rabinovich, Yaron Yakobi, and Tzahi Hagag, are committing to invest in the company, resulting in each holding over 5% of the company's share capital post-investment [3]. - The private placement involves issuing 7,349,896 ordinary shares at a price of NIS 4.83 (approximately USD 1.34) per share, with potential additional proceeds of up to NIS 77 million (approximately USD 21.5 million) if warrants are fully exercised [3]. Recovery and Growth Strategy - The funding will enable the company to complete post-war recovery processes and return to profitable growth, including expanding international operations in Germany, the UK, and Australia [2][11]. - The company is working closely with Israeli authorities to receive additional substantial payments for war-related damages, which will further support its recovery efforts [4][17]. - InterCure aims to double its production capacity in Israel and enhance its product portfolio using advanced technologies as part of its global growth strategy [12]. Market Position - InterCure, operating as Canndoc, is recognized as the leading and fastest-growing cannabis company outside North America, with a strong distribution network and a vertically integrated "seed-to-sale" model [6].