Im Cannabis Corp Stock Price, News & Analysis

IM Cannabis (NASDAQ:IMCC) has announced two significant developments: a loan agreement with L.I.A. Pure Capital Ltd. and the appointment of Oz Adler to its Board of Directors. The company secured a USD 1 million loan with potential for an additional USD 1 million, bearing 8% annual interest and due by June 30, 2026.

The loan agreement includes specific conditions, including a pledge of IMC Holdings Ltd. shares and a commitment to raise at least USD 3 million through an underwritten offering within 60 days. Mr. Adler, currently CEO of SciSparc Ltd. and an experienced financial executive, joins the board as part of the loan agreement terms, bringing expertise in capital markets, corporate finance, and pharmaceutical ventures.

IM Cannabis (NASDAQ: IMCC), a medical cannabis company operating in Israel and Germany, has provided updates regarding its Nasdaq listing compliance status. The company received a deficiency letter on April 9, 2025, for failing to meet the minimum $2.5 million stockholders' equity requirement for continued Nasdaq listing.

Following submission of its compliance plan on May 23, 2025, Nasdaq has granted IMCC an extension until October 6, 2025, to regain compliance with the listing requirements. The company's shares continue to trade on the Nasdaq Capital Market under "IMCC" while it works to meet the compliance standards.

IM Cannabis (NASDAQ: IMCC) has announced its application for voluntary delisting from the Canadian Securities Exchange (CSE). The company's shares will continue trading on NASDAQ under the symbol "IMCC". The final trading day on CSE is expected to be June 2, 2025.

The decision is driven by several factors: potential transactions that would incur unnecessary costs and delays if listed on CSE, low trading volume on CSE that doesn't justify maintenance expenses, and the aim to create a centralized marketplace on Nasdaq to enhance long-term liquidity and shareholder value.

IM Cannabis (NASDAQ: IMCC) (CSE: IMCC) announced several corporate updates on May 27, 2025. At their annual general meeting, shareholders approved key resolutions including: electing five directors with strong majority support, appointing auditors, and approving the Focus Transaction. The company completed the Focus Transaction on May 26, settling NIS 818,740 (~C$313,970) through issuing 128,818 shares at C$2.44 per share. Additionally, IMCC closed a secured convertible debenture offering raising C$2.3M to support growth in Germany, with debentures maturing May 26, 2026 and convertible at C$2.61 per share. CEO Oren Shuster exercised 152,701 pre-funded warrants and participated in the debenture offering alongside Rafael Gabay. Following these transactions, Shuster's ownership increased to 26.68% of outstanding shares (32.97% fully diluted), while Gabay controls 15.40% of shares.

IM Cannabis Corp. (NASDAQ: IMCC) reported strong Q1 2025 financial results, marking a significant turnaround with a net profit of $175K. The company achieved notable improvements including a 94% increase in gross profit to $3.5M, 4% revenue growth to $12.5M, and a 50% reduction in operating expenses. The company's Non-IFRS Adjusted EBITDA showed a 129% improvement, reaching a profit of $0.6M compared to a previous loss of $2.2M.

Key financial metrics include a significant operating ratio improvement to 26% (down from 77%), and increased cash position of $1.4M. The company also announced plans for a non-brokered private placement of secured debentures for up to C$2.5M. Despite positive operational results, the financial statements include a going concern note, indicating ongoing liquidity challenges.

IM Cannabis Corp. (Nasdaq: IMCC) has filed a management information circular for its upcoming annual general and special meeting on May 23, 2025. The meeting will address the proposed Focus Transaction, where the company plans to determine the Focus Purchase Price for a 26% interest in Focus, valued at approximately NIS 818,740. The valuation was conducted by Beta Finance T.Y.S Ltd., which determined Focus's total value to be about NIS 3.1 million based on discounted cash flow analysis. The Focus Purchase Price will be settled through the issuance of Common Shares, with the price determined by either the ten-day volume weighted average price on the CSE or the discounted market price per CSE policies. The Board, excluding conflicted directors, has unanimously recommended approval of the Focus Transaction.

IM Cannabis Corp. (NASDAQ: IMCC), a prominent medical cannabis company operating in Israel and Germany, has scheduled its first quarter 2025 financial results announcement for Thursday, May 15th, 2025, before market opening. The company will host a zoom conference at 9:00 AM ET on the same day to discuss the results and conduct a Q&A session with investors. Those unable to attend can access a recording on the company's investor relations website within 24 hours after the call.

IM Cannabis Corp. (NASDAQ: IMCC) has received a notification from Nasdaq on April 9, 2025, indicating non-compliance with the minimum stockholders' equity requirement of US$2.5 million for continued listing. The company reported stockholders' equity of US$2,184,722, falling short of the requirement. IMCC has 45 days until May 26, 2025, to submit a compliance plan and may receive up to 180 days to regain compliance.

Additionally, the company announced plans to acquire the remaining 26% interest in Focus Medical Herbs through its subsidiary IMC Holdings. The purchase price was determined by an independent third party to be NIS 818,740, to be settled through the issuance of common shares. The transaction requires disinterested shareholders' approval at the upcoming annual general meeting on May 23, 2025.

IM Cannabis (NASDAQ: IMCC) reported strong Q4 and full-year 2024 results, marking significant operational improvements. The company achieved 25% revenue growth in Q4 compared to Q4 2023, with annual revenue increasing 11% to $54.0M.

Key highlights include a 183% revenue increase in IMC Germany to $15.5M in 2024, and a 42% reduction in operating expenses in Q4 2024. The company achieved a positive Adjusted EBITDA of $0.5M in Q4 2024, compared to losses of $4.3M in Q4 2023. Annual Adjusted EBITDA losses decreased by 87% to $1.1M in 2024.

Despite these improvements, the company faced challenges including a one-time inventory clearance of $3.8M and Oranim revocation expenses of $2.7M. Cash and cash equivalents stood at $0.9M as of December 31, 2024, down from $1.8M the previous year. The company's financial statements include a going concern note regarding its ability to continue operations.