One of Israel’s largest cannabis companies, InterCure Ltd. INCR began trading on the NASDAQ Global Market on Wednesday.
InterCure is a vertically integrated medical cannabis operator with a focus on pharmaceutical-grade, GMP-certified branded products and branded product offerings with 100% retail penetration. Currently, InterCure has partnerships with leading cannabis brands and suppliers including Tilray TLRY, Organigram OGI, Cookies and Charlotte’s Web CWBHF.
Commenting on the debut, Ehud Barak, former Prime Minister of Israel and chairman of InterCure told Benzinga, “InterCure stands out as a leader in the global medical cannabis industry as one of the few profitable cannabis companies in this industry. Q2 2021 was the sixth consecutive quarter with quarter-to-quarter high double-digit growth and fourth consecutive quarter with positive cash flow from operations. These results reflect our leadership position and the successful implementation of our profitable growth strategy.”
Barak added, “The NASDAQ listing is a major milestone for us as we look to expand in emerging global markets and bring high-quality pharmaceutical grade cannabis products to patients worldwide. Additionally, when cannabis is federally legal in the US, we believe the market will adopt similar rigorous pharmaceutical standards as the rest of the world. As leaders of this standard, we are uniquely positioned to bring our winning model and established brands to the US medical cannabis patient community.”
The Company’s common shares will continue to trade on the Toronto Stock Exchange under the symbol “INCR.U” and the Tel Aviv Stock Exchange under the symbol “INCR.TA.”
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