InterCure to receive 230 million shekels in compensation for October 7 damages; stock soars
InterCure has reached a final settlement with the Israel Tax Authority for 230 million shekels in compensation for damages sustained during the October 7 attack. Following the announcement, the company's stock jumped by 34% on the Tel Aviv Stock Exchange.
The cannabis company InterCure has reached a final settlement with the Israel Tax Authority and the Compensation Fund regarding its claim for indirect damages caused by the destruction of its fields during the October 7 attack. As part of the settlement, the company will receive a total of 230 million shekels in compensation.
The company had initially claimed 300 million shekels and has already received 111 million; therefore, it is expected to receive approximately 119 million additional shekels. One of the central fields of InterCure, controlled by Alex Rabinovich, is located in Nir Oz. On October 7, 2023, the cultivation and production facility of Canndoc, an InterCure subsidiary, was severely damaged and ceased operations.
During the terrorist attack, many company employees were harmed, and two Canndoc workers were kidnapped to the Gaza Strip. Both returned to Israel safely as part of the hostage release deals. Following the attack, the Nir Oz complex was also utilized as a base for IDF forces operating in the area.
As of the time of publication, InterCure's stock is soaring by 34% on the Tel Aviv Stock Exchange, reaching a market valuation of over one billion shekels. However, over the last five years, the stock has fallen by nearly 87%. The company ended 2025 with a net loss of 37 million shekels, compared to a 73 million shekel loss in 2024.
