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.

"The term is very professional, solves problems efficiently and is very hard-working. It is a great pleasure and privilege to work with the team on cross-border transactions and multi-jurisdictional projects." — Legal 500 Canada
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
Clients note, "They have an exceptional ability to understand the root of the issue and figure out realistic, step-by-step approaches to solve problems." — Chambers Canada
A distinguished practice valued for advising major REITs and financial institutions on innovative capital markets transactions. — Chambers Canada
On the Capital Markets group, one client says, "deep strength and expertise at all levels...nothing can replace stability and the fact that I have worked with Goodmans on both sides of the table since the early 2000’s." — Legal 500 Canada
One interviewee reported, "The Goodmans team as a whole is excellent," adding: "The lawyers are very responsive and get the job done. It is of great assurance to have them as our legal advisers." — Chambers Canada
Clients comment Goodmans Capital Markets team has "Deep experience, based upon decades of leadership in the sector." — IFLR1000
A client notes, "The lawyers that I have worked with at Goodmans are extremely professional, knowledgeable, creative and excellent service providers. The matters that we have worked on were extremely complicated and required high level of ability to combine understanding of our business objectives with legal analysis." — IFLR1000
Clients note the team's "institutional knowledge is very deep" and stated: "It's like they're part of the team they work with. They're extremely responsive." — Chambers Global

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Subversive REIT's Qualifying Transaction with InterCure

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