#Israel #Herzliya #InterCure #Nir Oz #Canndoc

InterCure Secures Significant Funding for Recovery and Expansion

InterCure Ltd., operating under the brand Canndoc, has successfully secured a funding package of NIS 66 million (approximately USD 18.2 million) aimed at propelling the recovery and expansion of its facility in Kibbutz Nir Oz. Following recent adversities, this funding, potentially increasing to NIS 107 million, symbolizes the company's strategic commitment to overcome challenges and enhance its operational capabilities post-conflict.

The funding comprises investments from prominent shareholders including CEO Alexander Rabinovich, along with lead investors Yaron Yakobi and Tzahi Hagag, who will subsequently become significant stakeholders in the company. Beyond private investments, InterCure has also secured a loan of NIS 30 million (approximately USD 8.3 million) from one of Israel’s leading banks. This financial backing comes at a crucial time as the company works to fulfill recovery processes after sustaining damages in the ongoing conflict.

InterCure's CEO, Alexander Rabinovich, expressed enthusiasm about the funding’s implications, stating, "This investment marks a pivotal moment for InterCure, delivering the momentum needed to reignite our growth and drive us forward." The company aims to optimize its operations and leadership in the growing cannabis industry, particularly focusing on recovery and establishing a stronger foothold in international markets, including Germany, the UK, and Australia.

The substantial capital infusion will facilitate not only the recovery from past damages but will also empower InterCure to expand its production facility, doubling its output capacity in Israel. The company has formulated a robust growth plan aimed at capitalizing on emerging markets while enhancing its product portfolio with advanced technologies.

In addition to recovering from immediate damages, InterCure is poised to benefit from anticipated payments from Israeli authorities for war-related damages, which will further bolster its recovery efforts and financial stability. As efforts to stabilize the situation continue, InterCure is optimistic about reestablishing profitability and growth in the market.

The company also remains dedicated to the well-being of its employees affected by the war, highlighting their commitment not only to business recovery but also to community support and collaboration in the aftermath of the conflict. Rabinovich emphasized their hope for a swift resolution to ongoing hostilities and the return of all employees and families to their homes.

This funding is a testament to InterCure’s resilience and commitment to growth despite significant challenges. With a focus on strengthening its domestic operations while pursuing international expansion, InterCure is strategically positioned for a promising future.

As the company looks ahead, it aims to complete its recovery and expand its capabilities to thrive in an evolving market landscape. The steps taken in collaboration with local authorities and financial partners will be crucial in driving InterCure's mission forward through the tumultuous terrain of the cannabis industry and beyond.

In conclusion, InterCure is setting a course toward revitalized growth and operational excellence, paving the way for future successes both locally and internationally. Together with forward-thinking strategies and committed investments, the company is on the brink of a robust recovery.

For more information on InterCure and updates on their recovery efforts, visit InterCure's official website.