InterCure Ltd. (NASDAQ:INCR) (TSX:INCR) (TASE: INCR) (dba Canndoc) (“InterCure” or the “Company“), the leading cannabis company outside of North America, and TYSON 2.0, a premier cannabis brand known for high-quality cannabis products, announced that they have entered into a binding letter of intent (“LOI”) for a business partnership.
The partnership will see InterCure, a leading expert in pharmaceutical grade medical cannabis, granted an exclusive distribution license to cultivate, manufacture, sell, market, and distribute all approved products and brands of TYSON 2.0 in Israel, Australia, United Kingdom, Germany and other EU countries such as Switzerland. InterCure will also have the right to use the name, the marks and the TYSON 2.0 intellectual property in these territories.
“My vision for TYSON 2.0 has been to share high-quality cannabis that has saved my life with my fans and people wherever they may be. This relationship with InterCure is the next step of scaling up our operations to deliver on that vision. Together, TYSON 2.0 and InterCure will provide immediate solutions to international communities looking for the high-quality cannabis flower, concentrates and consumables that TYSON 2.0 is known for,” said Mike Tyson, Chief Brand Officer of TYSON 2.0.
According to EuroMontior International, the Israeli and German market are among the biggest and fastest growing legal cannabis markets in the world, and are set to reach sales of $3.4 Billion and $3 Billion by 2027, respectively.
“This strategic partnership is an exciting opportunity for us to expand our presence and offerings in key international markets,” said Alexander Rabinovitch, CEO of InterCure. “TYSON 2.0’s innovative products and reputation for purity and precision makes them the perfect partner for us as we continue to grow our business.”
The partnership also includes a license for InterCure to use TYSON 2.0’s intellectual property and genetics for cultivation and production of products.
“Our new partnership with InterCure marks TYSON 2.0’s second international expansion, continuing our mission to deliver an outstanding cannabis experience abroad,” noted Chad Bronstein, Co-founder, President and Chairman of TYSON 2.0. “With the help of InterCure’s global production and market leading distribution network, TYSON 2.0’s innovative cannabis products and solutions will soon be available to European and Australian consumers.”
This press release is a general summary of the terms of the partnership and not a comprehensive representation of the entire agreement, and it is subject to change as per the definitive agreement.
