Israel Canada (T.R) Ltd announced a private placement of 10,368,862 common shares at an issue price of ILS 13.52 per share for aggregate gross proceeds of ILS 140,187,014.24 on September 4, 2022. The transaction will include participation from returning investor, Menora Mivtachim Holdings Ltd for 254,553.1 shares, Sphera Master Fund LP, a fund managed by, Sphera Funds Management Ltd, Intergemel Provident Funds and Pension Ltd. and Migdal SAL - Domestic Equities. The common shares will have a lock-up period of 6 months from the allotment date.

The transaction has been approved by board of directors of the company and is yet to receive approval from Tel Aviv Stock Exchange.