Welcome to our dedicated page for Im Cannabis news (Ticker: IMCC), a resource for investors and traders seeking the latest updates and insights on Im Cannabis stock.
IM Cannabis Corp (IMCC) provides premium medical cannabis products in regulated international markets, with operational hubs in Israel and Germany. This news hub offers investors and industry stakeholders centralized access to official updates and market developments.
Track all corporate announcements including regulatory milestones, strategic partnerships, and operational expansions. Our curated collection ensures timely access to earnings reports, product launches, and compliance achievements that shape this medical cannabis leader's trajectory.
Discover updates on IMCC's EU-GMP certified operations, Focus Medical Herbs collaboration in Israel, and Adjupharm GmbH's German distribution network. Content spans supply chain innovations, licensing agreements, and quality control advancements critical to medical cannabis operations.
Bookmark this page for verified updates from a company maintaining strict adherence to international medical standards. Stay informed about IMCC's data-driven approach to cultivation and distribution in complex regulatory environments.
IM Cannabis Corp. (CSE:IMCC, NASDAQ:IMCC) announced the results from its annual general and special meeting held on July 28, 2021. A total of 37,108,584 shares were voted, representing 65.03% of outstanding shares. Shareholders approved all resolutions, including the appointment of directors and the re-appointment of auditors. Notable voting results included strong support for nominees Oren Shuster and Marc Lustig, receiving 96.19% of votes for their election. The company continues to strengthen its operations in Israel, Germany, and Canada.
IM Cannabis Corp. (CSE:IMCC, NASDAQ:IMCC) announces the acquisition of leading medical cannabis pharmacy Pharm Yarok and logistics provider Rosen High Way for approximately CAD$4.6 million. This acquisition, expected to enhance its vertical integration strategy in Israel, will consolidate assets with an annual revenue run rate of CAD$8 million and positive EBITDA of CAD$1 million. The closing is contingent upon necessary regulatory approvals and is anticipated to improve purchasing power and operational synergies.
IM Cannabis Corp. (CSE:IMCC) (NASDAQ:IMCC) announced the completion of a new logistics center in Germany, enhancing operations of its EU-GMP subsidiary, Adjupharm. This 80,000-square-foot facility will enable internal supply chain management and increase cannabis storage capacity to seven tons. Preliminary Q2 revenue estimates range from $11 million to $12 million, reflecting a 30% sequential rise. Anticipated Q3 revenues are expected to be driven by increased sales in Israel, full quarter contributions from recent acquisitions, and renewed growth in Germany.
IM Cannabis Corp. (IMCC) announces significant updates regarding its operations in Germany and Israel. Its subsidiary, Adjupharm, has signed supply agreements with The Green Organic Dutchman and Natural MedCo to expand its medical cannabis product offerings. In recognition of its brand launch, IMC received the 'German Brand Award 2021.' Additionally, a bill for CBD legalization and cannabis decriminalization has been approved in Israel, indicating potential market growth. However, legal proceedings involving Focus Medical may pose risks.
IM Cannabis Corp. (NASDAQ:IMCC) has successfully completed its acquisition of MYM Nutraceuticals Inc. following the announcement made on April 1, 2021. The acquisition was finalized on July 9, 2021, resulting in IMC acquiring all MYM shares at a ratio of 0.022 IMC shares per MYM share. This transaction gives former MYM shareholders approximately 15% of IMC's total shares. It enhances IMC's distribution capabilities, particularly in Eastern Canada, and positions the company for growth in Israel and Germany. MYM will be delisted from the Canadian Securities Exchange.
IM Cannabis Corp. (NASDAQ:IMCC) announced that shareholders of MYM Nutraceutical Inc. overwhelmingly approved the acquisition of MYM, including its subsidiary Highland Grow. This court-approved arrangement, expected to close around July 9, 2021, will be immediately accretive to IMC's EBITDA. The acquisition promises over $4 million in annual synergies, enhanced distribution capabilities, and the integration of premium brands. MYM shareholders will receive 0.022 IMC shares for each MYM share held, with MYM shares to be delisted from the CSE.
IM Cannabis Corp. (CSE:IMCC, NASDAQ:IMCC) announced a multi-year supply agreement with The Flowr Corporation (TSX.V:FLWR) to import ultra-premium cannabis strains into Israel. The agreement will enhance IMC's product offerings and is expected to begin in H2 2021. IMC aims to secure a strong pipeline of premium products, focusing on quality and patient needs. This partnership is part of IMC's strategy to grow its market presence and expand its internationally sourced cannabis portfolio.
IM Cannabis Corp. (CSE:IMCC, NASDAQ:IMCC) announced the first closing of its acquisition of Panaxia Pharmaceutical Industries, enhancing its online pharmacy and distribution capabilities in Israel. This strategic move is expected to boost IMC's market presence and operational efficiency. Additionally, the company launched its WAGNERS brand in Canada with new product offerings and achieved significant cultivation milestones, harvesting 8,000 plants in May 2021. IMC also completed a successful run-off of its loan portfolio, realizing a 24% internal rate of return.
IM Cannabis Corp. (CSE:IMCC, NASDAQ:IMCC) reported Q1 2021 revenues of $8.8 million, up 80% sequentially from Q4 2020 and up 554% year-over-year. The gross margin reached 53%. The revenue increase was driven by growth in Israel, Germany, and Canada, aided by the successful integration of Trichome. Adjusted EBITDA loss was $969,000, but would have been a profit of $799,000$17-19 million, benefiting from improved market conditions.
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