Im Cannabis Corp Stock Price, News & Analysis

IM Cannabis Corp. (IMCC) has announced an overnight marketed offering to raise approximately US$35 million through the sale of up to 6,086,956 common shares at US$5.75 each and 3,043,478 warrants. The company plans to use the proceeds for growth initiatives in Israel, Germany, and Canada, along with strategic mergers and acquisitions. The offering is expected to close around May 7, 2021, subject to customary conditions. Key agents involved include A.G.P./Alliance Global Partners and Roth Capital Partners.

IM Cannabis Corp. (CSE:IMCC, NASDAQ:IMCC) has announced an overnight marketed offering of common shares on a best-efforts basis. The Offering may include purchase warrants for additional share purchases. Agents A.G.P./Alliance Global Partners and Roth Capital Partners will lead the Offering, also featuring a 30-day Over-Allotment Option for additional securities. Funds raised will support growth in core markets (Israel, Germany, Canada), strategic acquisitions, and working capital needs. The Offering is subject to customary conditions and relies on an effective shelf registration statement.

IM Cannabis Corp. (CSE:IMCC)(NASDAQ:IMCC) has entered into a definitive agreement to acquire Panaxia Pharmaceutical Industries Israel Ltd. for $7.2 million. This acquisition will enhance IMC's patient offerings in Israel and strengthen direct relationships with customers. The deal will expand IMC's online pharmacy services, allowing access to a broad range of medical cannabis products. The transaction includes a two-stage closing process with regulatory approval expected by July 30, 2021. The combination is anticipated to provide significant revenue opportunities and synergies with IMC's Canadian production portfolio.

IM Cannabis Corp. (CSE:IMCC) reported Q4 2020 revenues of $4.9 million with a gross margin of 57%. For FY 2020, revenues reached $15.9 million, a 75% increase from 2019. Preliminary Q1 2021 revenues are expected between $8.5 to $9.0 million. Q2 2021 outlook anticipates $17 to $19 million due to growth in Israel and Germany, and contributions from the acquisition of Trichome Financial Corp. Net losses for FY 2020 were approximately $28.7 million, driven by revaluation of warrants and operational costs. The company also proposed an acquisition of MYM Nutraceuticals, expected to complete by Q2 2021.

IM Cannabis Corp. (CSE:IMCC)(NASDAQ:IMCC) announced a two-year supply agreement with MediPharm Labs to enhance its product offerings in Germany. This agreement allows IMC's subsidiary, Adjupharm, to introduce a new range of IMC-branded extracts, including high THC and balanced THC/CBD oils. The products are expected to launch in the second half of 2021, targeting the growing demand for medical cannabis. The partnership aims to strengthen IMC's position as a leader in the expanding German extracts market while fulfilling patient needs.

IM Cannabis Corp. (CSE:IMCC, NASDAQ:IMCC) announced a new supply agreement involving its subsidiary, Adjupharm, and Northern Green Canada (NGC), enhancing its product offerings in the German medical cannabis market. This partnership strengthens Adjupharm's distribution capabilities across over 6,000 pharmacies. The deal positions IMC for increased growth as NGC, a EU GMP-certified producer, provides high-quality medical cannabis. Additionally, IMC disclosed the termination of a purchase agreement with Zur Rose Pharma effective March 30, 2021.

IM Cannabis Corp. (NASDAQ: IMCC) has announced its acquisition of MYM Nutraceuticals Inc. and its subsidiary Highland Grow Inc. This deal is projected to enhance IMC's position in the premium cannabis market, with Highland Grow expected to contribute $29 million to $38 million in net revenue in 2021 and 2022. The purchase price values Highland Grow at 2.3x net revenue and 6.7x EBITDA. The transaction is anticipated to be immediately accretive and will provide significant distribution synergies and enhanced product offerings.

IM Cannabis Corp. (CSE:IMCC, NASDAQ:IMCC) has filed a final short form base shelf prospectus with Canadian securities authorities and a corresponding registration statement with the SEC. This will permit the Company to offer up to US$250 million in securities over a 25-month period. Proceeds may be utilized for corporate purposes, capital expenditures, and acquisitions. The shelf prospectus also allows for 'at-the-market' distributions via the CSE and NASDAQ. Copies of the prospectus are available on SEDAR and EDGAR.

IM Cannabis Corp. (CSE:IMCC, NASDAQ:IMCC) has filed a preliminary short form base shelf prospectus and a corresponding registration statement with the SEC. This initiative aims to enhance financial flexibility, allowing the company to offer up to US$250 million in various securities within a 25-month period upon regulatory effectiveness. The proceeds from any offerings could support general corporate purposes, capital expenditures, and acquisitions. The Shelf Prospectus could also facilitate an 'at-the-market distribution' through the CSE or NASDAQ.