InterCure Names Alexander Rabinovich as Chairman Replacing Ehud Barak

Core Viewpoint - InterCure Ltd. announces the resignation of Mr. Ehud Barak as Chairman of the Board, effective February 13, 2025, with Mr. Alexander Rabinovich succeeding him as Chairman [1][2] Group 1: Leadership Changes - Mr. Ehud Barak, marking his 83rd birthday, steps down after six years of service, pursuing personal endeavors [2] - Mr. Alexander Rabinovich, who has been CEO for the past five years, will take over as Chairman, having led the company to significant profitable growth and strategic partnerships [1][5] Group 2: Financial Developments - InterCure completed a financing round securing NIS 66 million (approximately $18.2 million) to support the recovery of the Nir Oz Facility, with potential proceeds increasing to NIS 107 million (approximately$29.8 million) if warrants are fully exercised [3] - Key shareholders, including the CEO and lead investors, participated in the financing, which also included a loan agreement from a leading Israeli bank [3] Group 3: Recovery and Growth Strategy - The company is executing a war recovery plan to restore the Nir Oz facility, re-launch products, and rebuild its pharmaceutical cannabis portfolio [4] - InterCure aims to complete rehabilitation of the Nir Oz facility and secure compensation for war-related damages, which is essential for returning to profitable growth [5] - The company is focused on expanding international operations in Germany, the UK, and Australia, leveraging its successful financing round to reinforce its market position [5][7]