April 23, 2021

Subversive REIT's Qualifying Transaction with InterCure

Goodmans LLP acted for Subversive Real Estate Acquisition REIT LP in the closing of its qualifying transaction to combine with InterCure Ltd. (dba Canndoc) (TASE: INCR), Israel’s leading cannabis company (the “Transaction”). Canndoc, a wholly owned subsidiary of InterCure Ltd., is Israel’s largest licensed cannabis producer and one of the first to offer Good Manufacturing Practices (GMP) certified and pharmaceutical-grade medical cannabis products in pharmacies across the country.

Common Shares of InterCure are now listed for trading on the TSX under the symbol "INCR.U" and will continue to be listed on the TASE under the symbol "INCR." SPAC Restricted Voting Units currently trading on the TSX under the symbol “SVX.U” and on the OTCQX under the symbol “SBVRF” will automatically convert to shares of “INCR.U” on the TSX on a one to one ratio. Effectively, holders of Rights trading under the symbol “SVX.RT.U” will automatically convert to shares of “INCR.U” on an eight to one ratio.

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A prominent player in REITs and SPAC-related offerings, also bearing an impressive record in cross-border and cannabis-related matters. — The Legal 500 Canada
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A distinguished practice valued for advising major REITs and financial institutions on innovative capital markets transactions. — Chambers Canada
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