Im Cannabis Corp Stock Price, News & Analysis

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.

IM Cannabis Corp (NASDAQ: IMCC) reported preliminary financial results for Q4 and fiscal year 2021, with Q4 revenues exceeding $20 million, up over 37% from Q3 2021 and 308% year-over-year. For FY 2021, revenues reached at least $54 million, representing a 240% increase from FY 2020. The Q4 gross margin was approximately 18%, influenced by investments in Germany and COVID-19 impacts in Canada. The company plans to launch the WAGNERS brand in Germany and has signed an agreement to acquire Oranim, enhancing its position in the Israeli market.

IM Cannabis Corp. (NASDAQ: IMCC) has engaged MZ Group to enhance its investor relations and financial communications strategy. This collaboration aims to boost the company’s visibility and support its expansion in the global cannabis industry. MZ Group will assist in executing a comprehensive capital markets strategy, coordinating investor roadshows, and enhancing brand awareness. The agreement, initiated on February 1, 2022, includes a monthly fee of $14,000 and potential share issuance if it remains effective past August 1, 2022. IM Cannabis is operational across Israel, Canada, and Germany.