ARK invests $ 8 million in the Israeli cannabis company InterCure


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ARK Exchange Traded Funds (ETF) have invested $ 8 million in the Israeli cannabis company InterCure (TASE: INCR). This is part of ARK’s recent spending spree on Israeli companies after the creation of an Israeli ETF. InterCure has been appointed to merge with SPAC (a special purpose acquisition company) on the Canadian Stock Exchange, and ARK now owns a 2.4% stake in InterCure worth 775 million shekels. ARK bought the shares at 6.46 shekels, similar to today’s price. Related articles InterCure flies into merger deal with Canadian company SPAC Intercure signs massive cooperation agreement with Tilray InterCure begins studying cannabis for children with autism, InterCure’s Canndoc establishes second hemp farm InterCure is the only hemp company in ARK’s European Training Foundation and the other companies are Gilat Satellite Networks Ltd. (NASDAQ: GILT; TASE: GILT), Perion Network Inc. (Nasdaq: PERI: TASE: PERI), immune drug developer Enlivex Therapeutics (Nasdaq: ENLV), computational biology company Evogene Ltd. (TASE: EVGN), and Gamida Cell Ltd. (Nasdaq: GMDA) and Polypid Drug Developer (Nasdaq: PYPD). ARK describes its ETF as tracking innovative companies in genetics, healthcare, biotechnology, industry, manufacturing, internet and information technology. InterCure is ARK’s third-largest ownership after Gilat and Perion. InterCure is set to merge with Subversive Real Estate Acquisition REIT LP on the NEO Canadian Stock Exchange and after the merger it will also list on Nasdaq. The company has revenues of $ 20.6 million and forecasts revenues of $ 74.4 million in 2021 and $ 137 million in 2022. InterCure’s chairman is former Israeli Prime Minister Ehud Barak and its CEO is Alexander Rabinowitz. Published by Globes, Israeli Business News-en. globes.co. il – on February 11, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021


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