InterCure Provides an Update Regarding Nir Oz Facility

NEW YORK, and HERZLIYA, Israel, Feb. 13, 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, reports today that, further to the Company’s press release issued on October 17, 2023, in which the Company provided an update regarding the status of the security situation in Israel, and its impact on the Company and its employees, the Company is providing an additional update regarding the status of its facility in Kibbutz Nir Oz (the “Southern Israel Site”).

Since October 7, 2023, war situation was declared by the Israeli government. As of this date, there is limited access to the Southern Israel Site, and parts of the site are being used by the Israel Defense Forces (the “IDF”), including, among others, the IDF’s medical corps.

The Company has begun the process of restoring the Southern Israel Site, and the restoring efforts are advancing according to its plans. In addition, the Company is working diligently with the Israeli authorities to obtain full compensation for the damages caused by the terrorist attack and the war in Gaza. The Company believes, with high certainty, that it will be entitled for compensation from the Israeli Governmental authorities for all direct and indirect damages suffered, as stated in the Company’s press release issued on October 17, 2023.

With the leadership position in the medical cannabis market and years of operations with the community of Kibbutz Nir-Oz, the Company is committed to restore and further develop the Southern Israel Site. The Company is also committed to support patients’ communities especially, patients living in affected and evacuated areas, casualties and IDF veterans. Bringing relief is our mission statement.

Intercure is thankful to its managers and employees for their commitment and to its strategic partners in Israel and worldwide who stand with us in this war time.

The Company intends to file preliminary results for the second half of 2023 and for its full year of 2023 through the beginning of March, and to file its full financial results for 2023 during April 2024.

About InterCure (dba Canndoc)

InterCure (dba Canndoc) (NASDAQ: INCR) (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.