Company: INCR
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-007971
Chunk: 141

Company: Intercure Ltd.
Filing Date: 2025-05-01
Form: 20-F
Item: Item 8
Chunk 141
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claim against the company and its officers (“Defendants”) in the amount of over NIS 100 million, with the Tel-Aviv Magistrate Court.

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In the counterclaim Cann argues that it suffered damages due to the alleged sabotaging of the merger transaction carried out by all of the defendants. Cann requests the court to order the completion of the merger transaction. It also provides two alternate requests: 1. compensate Cann in the amount of $35,000,000; or 2. order a compensation for damages caused on the amount of an Australian company’s activity’s value. In addition, Cann argues that it suffered several damages during the interim period stipulated caused by the defendants.
 
On February 7, 2024, the Defendant’s statement of defense to the counterclaim was submitted. In its detailed statement of defense, the Company addressed Cann’s claims, while demonstrating in detail to the court why the counterclaim against the Company is unfounded and baseless.
 
On April 4, 2024, Cann filed its reply to the Company’s statement of defense to the counterclaim. On November 18, 2024, the parties submitted a procedural agreement regarding the management of preliminary proceedings. The following day, on November 19, 2024, the court issued a decision approving the agreement and setting a deadline of July 1, 2025, for the parties to submit an update. On February 24, 2025, the parties exchanged general affidavits of disclosure of documents, and access to documents was provided . A pre-trial hearing originally scheduled for December 10, 2024, was canceled by the court’s decision on November 19, 2024.

Civil Claim 12895-03-23 Geffen Residence & Renewal Ltd. (former: Kanomed Medical Cannabis Industries Ltd.) vs. InterCure Ltd.
 
An SOC was filed against the Company by Geffen Residence & Renewal (“Geffen”) with the Tel-Aviv district court on March 6, 2023. In the SoC, Geffen argues that the Company fundamentally breached the purchase agreement signed by the Parties in 2021 (the “Agreement”). It is alleged that InterCure has failed to pay Geffen the full consideration for the assets received from Geffen under the Agreement. The position of InterCure is that the Agreement was breached by Geffen after it gave InterCure false representations under the Agreement and did not meet the closing condition