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. reports developments tied to its medical cannabis platform serving patients in Israel and Germany. Company updates commonly address medical cannabis operations, regulatory and commercial positioning, operating and financial results, and the management of liquidity through note purchase agreements, convertible notes and common share purchase warrants.
Recurring IMCC news also includes Nasdaq listing-compliance notices, board and executive appointments, shareholder or governance matters, and disclosures related to material agreements and capital structure. The company’s announcements frame IM Cannabis as an international medical cannabis issuer with cross-border supply and compliance considerations in regulated cannabis markets.
IM Cannabis Corp. (CSE: IMCC, NASDAQ: IMCC) announced it received a notification from Nasdaq on July 13, 2022, indicating non-compliance with minimum bid price requirements after its stock closed below $1.00 for 30 consecutive business days. The company has until January 9, 2023, to regain compliance by maintaining a closing bid price above $1.00 for at least 10 consecutive days. The notification does not impact IM Cannabis's listing on Nasdaq Capital Market or its Canadian Securities Exchange status.
IM Cannabis Corp. (CSE: IMCC, NASDAQ: IMCC) reported Q1 2022 revenues of $23.6 million, a remarkable 169% increase year-over-year. Gross profit grew 37% from Q1 2021 to $6.4 million. The company is on track to achieve positive Adjusted EBITDA in Q2 2022. Strategic acquisitions in Israel, including leading pharmacies, were completed to bolster market presence. Despite a net loss of $10.7 million and increased expenses, management highlighted strong demand for its WAGNERS brand and plans for growth in Germany.
IM Cannabis Corp (CSE: IMCC, NASDAQ: IMCC), a prominent cannabis company operating in Israel, Canada, and Germany, is set to release its Q1 2022 financial results on May 12, 2022, after market close. The results will be followed by a conference call scheduled for 5:00 p.m. ET, where management will discuss the performance and answer questions. The company operates across key markets and focuses on high-quality cannabis products for medical and recreational consumers.
Oren Shuster, CEO and founder of IM Cannabis Corp (IMCC), acquired 150,000 common shares between April 5 and 8, 2022, at an average price of US$2.238 per share, totaling US$335,731.60. This acquisition increases his ownership from 13.11% to approximately 13.32% of the company’s outstanding shares. Although the transaction is not substantial in volume, it marks a notable shift in his shareholding, as it exceeds a 2% change from his previous report in October 2019, affected by prior share issuances. Mr. Shuster states the shares were purchased for investment purposes.
IM Cannabis Corp. (CSE: IMCC, NASDAQ: IMCC) announced a strategic shift to enhance operational efficiency by closing its Sde Avraham cultivation farm in Israel. This move aims to optimize its import-export supply chain, focusing on importing premium cannabis products from Canadian affiliates. Additionally, the company increased its revolving credit facility to $15 million to cope with growing global demand. CEO Oren Shuster emphasized the transition as crucial for sustainable growth and better supply capabilities in the evolving Israeli and German markets.
IM Cannabis Corp. reported record revenues of over $54 million for FY 2021, a 242% increase year-over-year. Q4 2021 revenues surged 309% to $20 million, indicating strong market performance in Israel and Canada. Despite the growth, adjusted EBITDA showed a significant loss of $22 million for the year. The company expects Q1 2022 revenues to increase sequentially, backed by its strategic acquisitions, including major pharmacies in Israel. Cash and equivalents rose to $13.9 million. IM Cannabis aims for positive cash flow and adjusted EBITDA by Q2 2022.
IM Cannabis Corp (CSE: IMCC, NASDAQ: IMCC) announced the acquisition of 51% of Oranim Pharm, a prominent medical cannabis pharmacy in Jerusalem, for approximately NIS 11.94 million (CAD 4.6 million). This strategic move positions IM Cannabis as a leading player in Israel's medical cannabis market, enhancing its operational footprint and enabling direct sales of its products. Oranim Pharm reported revenues of approximately $16.5 million for the year ending October 31, 2021, with a gross margin of about 25% and positive EBITDA.
IM Cannabis Corp (CSE: IMCC, NASDAQ: IMCC) has rescheduled the release of its operational and financial results for Q4 and the full year ended December 31, 2021, to March 31, 2022, before market open. The company will host a conference call at 9:00 a.m. ET on the same day to discuss the results, with an opportunity for Q&A. IM Cannabis operates in international markets including Israel, Canada, and Germany, focusing on premium cannabis products for both medical and recreational consumers.
IM Cannabis Corp (CSE: IMCC, NASDAQ: IMCC) will release its fourth quarter and full year 2021 financial results on March 30, 2022, before market open. A conference call will follow at 9:00 a.m. ET to discuss these results, with dial-in options for U.S., Canada, Israel, Germany, and international participants. IM Cannabis operates in Israel, Germany, and Canada, focusing on premium cannabis products for both medical and recreational markets.
IM Cannabis Corp (CSE: IMCC, NASDAQ: IMCC) has finalized three strategic acquisitions to bolster its operations in Israel, Canada, and Germany. These transactions include Vironna, a top cannabis dispensing entity, Pharm Yarok, a leading pharmacy, and Panaxia, which provides vital distribution licenses. The total value of these acquisitions amounts to approximately NIS 39.1 million (around $15.2 million). CEO Oren Shuster emphasized the importance of these moves for the company’s expansion and operational efficiency, highlighting an increase in customer satisfaction and consumption levels.