Company: INCR
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-007971
Chunk: 203

Company: Intercure Ltd.
Filing Date: 2025-05-01
Form: 20-F
Item: Item 18
Chunk 203
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 counterclaim against the company and its officers (“Defendants”) for the amount of over NIS 100 million, with the Tel-Aviv Magistrate Court. 
 
In the counterclaim Cann argues that it suffered damages due to the alleged sabotaging of the merger transaction between Better and InterCure 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 USD 35,000,000; 2. Order a compensation for damages caused on the amount of the activity value of an Australian subsidiary of Cann. In addition, Cann argues that it suffered several damages caused by the defendants.
 
 
F-48
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Note 16 – Commitments, Charges and Contingent Liabilities (Cont.)
 
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 to the court why the counterclaim against the company is unfounded. 
 
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. A pre-trial hearing originally scheduled for December 10, 2024, was canceled by the court’s decision on November 19, 2024.
 
At this early and preliminary stage of the case, it is not possible to estimate the claim’s chances. See Note 12B.
 

  3.                                                 A                                              
        lawsuit was filed on April 24, 2023, by the companies Cannolam Ltd. And Cannolam Retail Ltd.
                (together, the “Plaintiffs”) against Intercure itself and against four other        
        defendants, Pharmazone Pharmacy Ltd., Canndoc Ltd., Doron Pharmacy Ltd., and Ahuza Pharmacy 
        D.Y. Ltd, after disputes arose between the Company (and its related companies) and minority 
                                  shareholders of its subsidiary Cannolam.                          
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During a hearing held in court in this proceeding on June 15, 2023, the parties agreed to initiate an arbitration