InterCure (INCR) is pleased to announce that further to the company’s prior reports regarding the war-related damages and the reconstruction efforts of its facility in Kibbutz Nir Oz, the company was successful in obtaining funding commitments of approximately $18.2M, which may increase to approximately $29.8M. The funding includes investments from key shareholders of the company, including CEO Alexander Rabinovich, as well as lead investors Yaron Yakobi and Tzahi Hagag who will become significant shareholders. Funding also includes a loan from a major Israeli bank. Completing the post-war damage recovery processes will enable the company to return to profitable growth without further delay, including exercising the cookies agreement and expanding international operations in Germany, the UK, and Australia. The company anticipates receiving additional substantial payments from the Israeli authorities, as part of the full compensation for war related damages, including loss of profits the Company is entitled to.
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