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 (IMCC) provides premium medical cannabis products in regulated international markets, with operational hubs in Israel and Germany. This news hub offers investors and industry stakeholders centralized access to official updates and market developments.
Track all corporate announcements including regulatory milestones, strategic partnerships, and operational expansions. Our curated collection ensures timely access to earnings reports, product launches, and compliance achievements that shape this medical cannabis leader's trajectory.
Discover updates on IMCC's EU-GMP certified operations, Focus Medical Herbs collaboration in Israel, and Adjupharm GmbH's German distribution network. Content spans supply chain innovations, licensing agreements, and quality control advancements critical to medical cannabis operations.
Bookmark this page for verified updates from a company maintaining strict adherence to international medical standards. Stay informed about IMCC's data-driven approach to cultivation and distribution in complex regulatory environments.
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.
IM Cannabis (CSE: IMCC) (NASDAQ: IMCC), a leading medical cannabis company operating in Israel and Germany, has scheduled its Fourth Quarter and Full Year 2024 financial results announcement for Monday, March 31, 2025, before market opening.
The company will host a zoom web conference at 9:00 AM ET on the same day to discuss the results, which will include a Q&A session for investors. A recording of the call will be made available on the company's investor relations website within 24 hours after the event.
IM Cannabis Corp. (NASDAQ: IMCC) (CSE: IMCC), a medical cannabis company operating in Israel and Germany, has announced a change in its auditors. The company has transitioned from Kost Forer Gabbay & Kasierer (Ernst & Young Global member) to Fahn Kanne & Co. Grant Thornton Israel, effective January 16, 2025.
The previous auditor resigned at the company's request, and the new appointment was made based on the audit committee's recommendation. The board of directors has appointed the new auditor until the next annual shareholders' meeting. The company confirms there were no reservations, modified opinions, or reportable events in the previous auditor's reports. All required documentation has been filed on SEDAR+ in accordance with National Instrument 51-102.
IM Cannabis Corp. (NASDAQ: IMCC) reported Q3 2024 financial results showing a 12% revenue increase to $13.9M compared to Q3 2023. The company achieved significant growth in Germany with 66% revenue increase to $5.8M. Operating expenses decreased by 16% to $4.1M, while the operational expense ratio improved by 25% to 30%. The company reduced its EBITDA loss by 68% to $0.5M and adjusted EBITDA loss by 82% to $0.2M. Average selling price per gram increased by 42% to $6.20, though total dried flower sales volume decreased to 2,202 kg.
IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC), a medical cannabis company operating in Israel and Germany, has announced it will release its third quarter 2024 financial results on November 14, 2024, before market opening. The company will host a zoom conference at 9:00am ET on the same day to discuss the results and conduct a Q&A session with investors. A recording of the call will be available on the company's investor website within 24 hours after the event.
IM Cannabis Corp. (NASDAQ: IMCC) (CSE: IMCC) has announced a non-brokered private placement offering of up to US$1,613,000 through the sale of approximately 625,000 units. Each unit consists of one common share and one share purchase warrant. The offering price will be based on the 10-day volume weighted average price of shares on the Canadian Securities Exchange preceding October 3, 2024.
The company's management team, including CEO Oren Shuster and director Shmulik Arbel, will lead the offering. Proceeds will be used to repay a loan to A.D.I. CAR ALARMS & STEREO SYSTEMS The closing is expected by November 11, 2024.
Additionally, IM Cannabis plans to settle a US$560,000 benefit related to personal loan guarantees provided by Mr. Shuster. The company has also cancelled 32,305 options and 142,784 share purchase warrants, while granting 32,305 new options to eligible persons.
IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) has announced outstanding preliminary Q3 2024 performance for its German subsidiary, Adjupharm GmbH (IMC Germany). The company reported a remarkable 50% increase in revenue compared to Q2, where IMC Germany sold about CAD$ 3.5M. This growth exceeds expectations and demonstrates IMC Germany's successful execution of strategic initiatives and strong market demand for its products.
The partial legalization of cannabis in Germany, which came into effect in April 2024, has significantly increased demand for cannabis products in pharmacies. IMC's CEO, Oren Shuster, emphasized that ensuring a robust supply chain to meet this increased demand was a key objective since April 1st. The preliminary 50% growth is seen as a testament to delivering on this objective.
IM Cannabis Corp. (NASDAQ: IMCC) (CSE: IMCC) has appointed Shmulik Arbel to its Board of Directors, effective September 9, 2024. Arbel, who recently retired as Deputy CEO from Leumi, Israel's largest banking group, brings extensive experience in strategic planning, finance, and corporate governance. With over 25 years at Leumi, including roles in Israel, New York, and London, Arbel has a broad international business perspective.
CEO Oren Shuster expressed enthusiasm about Arbel's appointment, highlighting his valuable experience in banking and finance. Arbel, who holds a BA and MBA from Tel Aviv University, stated his commitment to leveraging his expertise to guide IMCC's growth in the cannabis industry.
IM Cannabis Corp. (NASDAQ: IMCC) (CSE: IMCC) reported its Q2 2024 financial results, showing a 12% revenue increase to $14.8M compared to Q2 2023. The growth was primarily driven by a 200% increase in German sales following cannabis legalization. Key highlights include:
- IMC Germany sales grew 129% year-over-year to $3.5M, now comprising 24% of total revenue
- Gross margin decreased to 6% from 26% in Q2 2023 due to inventory clearance
- Operating expenses decreased by 29% to $3.7M
- Net loss was $3.5M, with a loss per share of $0.23
- Cash and cash equivalents stood at $0.7M as of June 30, 2024
The company faces challenges with inventory management and maintaining profitability, but sees significant growth potential in the German market post-legalization.
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