Im Cannabis Corp Stock Price, News & Analysis

IM Cannabis Corp (CSE:IMCC, NASDAQ:IMCC) announced that its recreational cannabis brand WAGNERS will be introduced in Israel following approval from the Israeli Ministry of Health for Focus Medical Herbs Ltd. to import premium cannabis from Trichome JWC Acquisition Corp. This move allows the import of an estimated 1,200 kilograms of cannabis throughout 2022. WAGNERS has shown significant market share growth in Canada, reaching 3.8% in Ontario. CEO Oren Shuster emphasized the strategic importance of this launch in enhancing the company's global supply chain and shareholder value.

IM Cannabis Corp (CSE:IMCC, NASDAQ:IMCC) announced the fourth installment of shares for the Panaxia Transaction, acquiring a license and pharmacy from Panaxia Pharmaceutical Industries for $7.2 million. The company issued 298,529 shares worth approximately $922,156 on November 16, 2021, at $3.089 per share. The acquisition, primarily paid with cash and shares, is part of IM Cannabis's strategy to strengthen its operational footprint in Israel, Germany, and Canada. The final share installment awaits approval from the Israeli Ministry of Health.

IM Cannabis Corp. (CSE:IMCC, NASDAQ:IMCC) reported Q3 2021 revenues of $14.4 million, a 30% increase from Q2 2021, while gross margins improved to 20% from 5.4%. Sales from WAGNERS and Highland Grow in Ontario surged over 110% from June to October. The company anticipates ongoing revenue growth into Q4 and 2022, driven by recent acquisitions and a strong market position. However, adjusted EBITDA loss was $7 million due to acquisition costs, and the net loss stood at $5.7 million, reflecting ongoing operational challenges.

IM Cannabis Corp (CSE:IMCC, NASDAQ:IMCC) announced the third installment of shares related to its acquisition of Panaxia-to-the-Home online pharmacy and trading center from Panaxia Pharmaceutical Industries. The overall purchase price stands at $7.2 million, combining $2.9 million in cash and $4.3 million in shares. The recent issuance of 248,212 shares at $3.225 each brings the total share value of this installment to approximately $905,306. This strategic acquisition enhances IM Cannabis's position in the growing cannabis market across Israel, Germany, and Canada.

IM Cannabis Corp. (CSE: IMCC, NASDAQ: IMCC) has provided details on its acquisition of the Panaxia online pharmacy and trading center license from Panaxia Pharmaceutical Industries Israel Ltd. for $7.2 million. This transaction consists of $2.9 million in cash and $4.3 million in shares. So far, IMC has completed the first closing and issued 246,007 shares at $3.68 each, valued at approximately $905,305.76. Additional share installments are expected over the next months, pending regulatory approval from the Israeli Ministry of Health.

IM Cannabis Corp. (CSE:IMCC, NASDAQ:IMCC) reported Q2 2021 revenues of $11.1 million, up 27% from Q1 2021. The company announced the acquisition of 51% of Vironna pharmacy for approximately $3.3 million, targeting the growing Arab consumer segment. With strong Q3 performance expected across regions, IMC anticipates further revenue growth, benefiting from acquisitions and medical sales boosts in Israel. Challenges included a 5% gross margin due to shipment delays and production issues, resolved this quarter, indicating potential for improved margins ahead.

IM Cannabis Corp. (CSE:IMCC, NASDAQ:IMCC) has entered a binding letter of intent with cbdMD, Inc. to exclusively import its products to Israel, pending regulatory approval. This partnership aims to capitalize on the anticipated growth of the Israeli CBD market, projected to reach US$475 million by 2025. Additionally, IMC provided updates on its previous acquisition of the Panaxia pharmacy, involving a total purchase price of $7.2 million, with $2.9 million paid in cash and $4.3 million through share issuance.

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.