InterCure Announces the Withdrawal of a Class Action Lawsuit against it

Provided By Globe Newswire

Last update: Dec 5, 2022

NEW YORK and TORONTO and HERZLIYA, Israel, Dec. 05, 2022 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ: INCR) (TSX: INCR.U) (TASE: INCR) (dba Canndoc) ("InterCure" or the "Company") is pleased to announce the withdrawal of a class action lawsuit against it (the “Regenera Lawsuit”). The Regenera Lawsuit was described in the Company’s press release dated May 26, 2020 and in the Company's most recent Annual Report and Annual Information Form and it was primarily concerning a motion to certify, as a class action, a claim filed against the Company, its directors and its executive officers, alleging that the Company violated its obligation to publicly disclose certain events and developments which impacted the valuation of Regenera Pharma Ltd. (in which the Company held a 11.76% position during the time relevant to the claim). On December 2, 2022, the Tel Aviv District Court approved a consent motion to withdraw the Regenera Lawsuit, without any payment to the plaintiff from the Company.