Im Cannabis Corp Stock Price, News & Analysis

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.

IM Cannabis Corp. has successfully closed an overnight marketed offering, raising approximately US$35 million by selling 6,086,956 common shares at US$5.75 each. Alongside the shares, the company issued 3,043,478 warrants at an exercise price of US$7.20 for a term of 5 years. The proceeds will support growth in Israel, Germany, and Canada, facilitate strategic mergers and acquisitions, and provide general working capital. The offering was conducted under the company's effective registration statement, with co-lead agents from A.G.P./Alliance Global Partners and Roth Capital Partners.

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.