Company: INCR
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-007971
Chunk: 174

Company: Intercure Ltd.
Filing Date: 2025-05-01
Form: 20-F
Item: Item 18
Chunk 174
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 Other                     
     Significant Events During the Reporting Period
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  1.                                                 In                                            
            2021, the Company engaged in a merger agreement (hereinafter: the “Prior Agreement”    
                                 Real Estate Acquisition REIT LP (“SVX”), a                        
         special purpose acquisition company (SPAC) which is listed on the Canadian stock exchange 
                                     NEO (NEO:SVX.U), pursuant to which                            
          the Company, through a wholly-owned subsidiary, acquired all of the outstanding limited  
        partnership units of SVX in exchange for the issuance of the Company ordinary shares by way
                             of a plan of arrangement (the “SPAC Transaction”).                    
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Total funds raised from the SPAC Transaction, after redemptions, and the private placement equaled approximately NIS 182 million (not including transaction costs) NIS 8.4 million of those still needs to be received and currently presented in other receivables, see also Note 12B.
    
F-13
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Note 1 - General (Cont.)
  
Since SVX was not considered a business, as defined by IFRS 3, the Company recorded the SPAC Transaction proceeds as a respective increase in equity.
 
On April 23, 2021, the Company’s shares were listed on the TSX and the first trade of the ordinary shares on the TSX occurred on April 26, 2021.
 
On September 1, 2021, the Company’s shares were listed and the first trade of the ordinary shares on the Nasdaq Global Market under the ticker symbol “INCR”.
 
On August 14, 2023, the Company’s ordinary shares were delisted from trading on the TSX, following approval by the TSX of the Company’s request.
 

  2.                                             Following                                          
        the brutal attacks on Israel, the mobilization of army reserves and the Government declaring
            a state of war (“Iron Swords” war) in October 2023, there was a decrease in Israel’s    
        economic and business activity. The security situation has led, inter alia, to a disruption 
        in the chain of supply and production, a decrease in the volume of national transportation, 
          a shortage in manpower as well as a decrease in the value of financial assets and a rise  
             in the exchange rate of foreign currencies in relation to the New Israeli Shekel.      
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Since the beginning of the war, the Southern Site has been