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  • Subversive Acquisition LP (SVX.U) announced that InterCure, Israel’s leading cannabis company has entered into a partnership with Austrian MediCann
  • InterCure is Subversive Acquisition's intended target for its "Qualifying Transaction"
  • The partnership is part of InterCure's international expansion strategy to major markets around the world
  • Subversive Acquisition is a special purpose acquisition corporation for the purposes of the rules of the TSX and Neo Exchange Inc.
  • Subversive Acquisition is up 0.10 per cent on the day, with shares trading at US$9.96 at 3:59 pm ET

Subversive Acquisition LP (SVX.U) announced that InterCure, Israel’s leading cannabis company has entered into a partnership with Austrian MediCann.

InterCure is Subversive Acquisition's intended target for its "Qualifying Transaction".

The agreement will see InterCure and Austrian MediCann operate together in the developing cannabis markets in Austria and Luxembourg.

InterCure will replicate the successful model of its subsidiary Canndoc in Israel and will establish and manage the distribution, marketing, and sales of Canndoc's products in selected countries in Europe.

The partnership is part of InterCure's international expansion strategy to major markets around the world.

"We are happy to join forces with MediCann's team who have years of experience in retail and vast knowledge of the local markets. The expansion of the company's operations to a central European country is part of InterCure's international expansion strategy. This is an expression of trust, which is reflected in the investment of €10 million, in the company's vision, its business model, quality and competitive advantages of its brands," said InterCure CEO Alexander Rabinovitch.

Subversive Acquisition LP is a limited partnership established under the formed for the purpose of effecting, directly or indirectly, an acquisition of one or more businesses or assets, by way of a merger, amalgamation, arrangement, equity exchange, asset acquisition, equity purchase, reorganization, or any other similar business combination involving SVX that will qualify as its qualifying transaction for the purposes of the rules of the TSX and Neo Exchange Inc.

SVX is a special purpose acquisition corporation for the purposes of the rules of the TSX and Neo Exchange Inc.

Subversive Acquisition is up 0.10 per cent on the day, with shares trading at US$9.96 at 3:59 pm ET.

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