Company: INCR
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-007971
Chunk: 98

Company: Intercure Ltd.
Filing Date: 2025-05-01
Form: 20-F
Item: Item 5
Chunk 98
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ITEM               OPERATING             
 5.    AND FINANCIAL REVIEW AND PROSPECTS
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A.   Operating
      Results.
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This Operating and Financial Review and Prospects provides an analysis of the financial operating results for the year ended December 31, 2024. This section should be read in conjunction with the Company’s audited annual consolidated financial statements and the accompanying notes for the year ended December 31, 2024, which have been prepared in accordance with IFRS.
 
Amounts are presented in thousands of NIS.

Overview
 
We are an Israeli public corporation with shares listed for trading on the TASE under the symbol “INCR”, and on the Nasdaq under the symbol “INCR”.
 
InterCure has 14 direct subsidiaries as described under “Item 4.B. Business Overview”.
 

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We (more specifically through Canndoc) are a pioneer in the production (including the breeding, cultivating and processing), manufacturing and distribution of pharmaceutical-grade cannabis and cannabis-based products for medical use. For more than 17 years, we have been a leader in the licensed production and distribution of cannabis and cannabis-based products throughout Israel, one of the first countries with a governmentally-sanctioned regime for the production, manufacturing and distribution of cannabis for medical use.
 
Our goal is to be a global leader in the production and distribution of high-quality pharmaceutical-grade cannabis-based branded products to patients in all territories that permit and regulate the distribution of pharmaceutical-grade cannabis, including Israel, the European Union and Australia.
 
Since the beginning of 2020, we have focused on accelerating and growing our commercial activity in major markets around the world. As part of our global vertically integrated “seed-to-sell” model, we have entered into exclusive collaborations with some of the largest international cannabis companies in the world including Tilray, Organigram, Charlotte’s Web and Cookies. These strategic agreements serve to advance our capabilities and emphasize our focus on delivering premium quality and branding to Israel and other target markets. We have expanded cooperation agreements for the production, marketing and distribution of our products in countries with supportive regulations.
 
We believe in the uncompromising quality of our products and we are leading the trend towards the pharmaceutical standard in the medical cannabis industry, both through a high quality, advanced production system and through extensive research and development with nine clinical studies approved by the Minister of Health. We have acquired a unique knowledge throughout our 17 years of experience operating in the cultivation, growth and genetics