Two employees of Israeli cannabis producer InterCure were among those kidnapped by Hamas when the militants infiltrated Israel’s southern border earlier this month, the company disclosed this week.
InterCure’s main facility, located in Kibbutz Nir Oz, roughly 1.2 miles from the Gaza border, was affected in the attack.
However, the area encompassing the facility has been designated by the Israeli government as a closed military region, so the company hasn’t been able to determine whether there’s any damage.
“At this point, the company is unable to assess the extent of the damage to the (facility), and the scope of the rehabilitation that will be required,” InterCure said in a news release.
All of the company’s remaining facilities are fully functional and have been asked to ramp up production.
InterCure said it estimates “in high certainty” that it is entitled for compensation from the Israeli government for the damages, but it’s too early to estimate the impact on its financial results.
“Despite the numerous challenges, the company’s management, cannabis trading houses, and pharmacies are working diligently to provide the required service to patients, and meet the growing demand for (InterCure’s) products, especially during this difficult period,” according to the release.
InterCure said its facility in Kibbutz Nir Oz is one of the most advanced and largest in Israel and outside North America, encompassing the largest genetic bank and inventory in the country.
The Herzliya-based operator, which says it’s the leading medical cannabis company in Israel, said it received offers to supply its inventories from local and international strategic partners.
InterCure said it decided to supply the communities along the Israeli southern border, as well as the survivors from the Hamas attack, with free cannabis products “to ease their pain and provide relief for various medical conditions, including pain relief and trauma treatment.”
InterCure said it is working with the Ministry of Health to promote special trauma treatment programs.
“Despite the despicable barbaric terrorist attack against the residents of Israeli towns and villages, we stand strong,” InterCure CEO Alexander Rabinovich said in a statement.
“We support the families of those murdered and injured, among them, several of Company’s employees from Kibbutz Nir-Oz.”
The company’s shares are traded on the Nasdaq (INCR) and Tel Aviv Stock Exchange (INCR).
