InterCure (NASDAQ:INCR) said Tuesday that an Israeli court has decided to rule in favor of the company during the arbitration process of the Cannolam case brought forth by certain minority stakeholders.
The arbitrator determined that Cannolam, which is one of the subsidiaries of the company, owes “tens of millions” in Shekels to InterCure.
The minority shareholders did not transfer their part of the Cannolam debt owed to the company, and as a result, their shares in Cannolam were transferred to the company.
The company said it now holds 100% of the shares in Cannolam, which has the exclusive right to use the “Cookies” brand in Israel and other territories.
Press Release.
