GlobeNewswire Inc | May 20, 2021 06:46AM EDT

May 20, 2021

Acquisition of one of the leadingactive, IMCA approved trade houses in Israel expandingInterCure'ssales channel, distribution,delivery and storage capacity.

As part of the acquisition, two additional pharmacies added to Intercuresleading medical focused, pharmacy chain

Acquisitionexpected to be accretivefrom Q3 2021 empoweringInterCure tofurtherboost growth and profits

InterCure initiated a special medical cannabis home delivery programin collaboration with UPS - supporting Israels patients' community solid demand

TORONTO and HERZLIYA, Israel, May 20, 2021 (GLOBE NEWSWIRE) -- . (TSX: INCR:U, TASE: INCR)(dba Canndoc)("InterCure" or the Company) today announced that it signed a definitive agreement to acquire a licensed active medical cannabis trading house and two pharmacies.

The trading house is approved by the Israeli Medical Cannabis Agency (IMCA) and is one of the leading operating trading houses in the country, authorized to distributing GMP medical cannabis products to pharmacies. As part of GMP regulations, medical cannabis products can dispense through IMCA approved pharmacies which supply their inventories only from authorized medical cannabis trade houses.

As part of the acquisition, two pharmacies, located in central Israel added to Inter Cures leading medical focused, pharmacy chain, expanding its footprint to 12 points of sale in key locations across Israel. This expansion positions the Company to meet the growing demand for medical cannabis products as the patient's community continues to grow, currently averaging 4% per month1.

The acquisition is expected to be accretive beginning from Q3 2021 supporting InterCures vertically integrated model. The transaction is subject to regulatory approvals.

In addition, as demand for medical cannabis products during the military conflict in Israel remains solid the Company initiated a medical cannabis home delivery program in collaboration with UPS. For the first time, patients in Israel can order InterCure's high-quality branded products directly to their home with same day delivery using UPS's world renowned carrier service.

About InterCure (dba Canndoc)



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Contact:

InterCure Ltd.Amos Cohen, Chief Financial Officer

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1Israeli Ministry of Health Data publication, April 2021