Welcome to our dedicated page for IM Cannabis Common Shares news (Ticker: IMCC), a resource for investors and traders seeking the latest updates and insights on IM Cannabis Common Shares stock.
IM Cannabis Corp. (IMCC) is a leading international company specializing in premium medical-grade cannabis, with extensive operations in Israel, Europe, and Canada. Over the last decade, IM Cannabis has built a robust reputation for quality, consistency, and purity in its products, including popular strains such as 'Roma', 'Tel Aviv', and 'London'.
Headquartered in Canada, IM Cannabis operates primarily through its subsidiary, Focus Medical Herbs Ltd. in Israel, where it generates the majority of its revenue. Focus holds a cultivation license that enables the breeding, growth, and supply of medical cannabis products. The company also has a strong presence in Germany through its EU-GMP certified distribution arm, Adjupharm GmbH. This vertical integration allows the company to control every aspect of the value chain from cultivation to distribution, ensuring high standards and compliance with stringent regulatory requirements.
IM Cannabis has recently pivoted its focus from the Canadian market to concentrate on its high-value markets in Israel and Germany. This strategic move is aimed at achieving sustainable and profitable growth. The company leverages a transnational ecosystem powered by proprietary data and patient insights, alongside a globally sourced product supply chain. This unique data-driven approach enables IM Cannabis to deliver products that meet the specific needs of medical patients in these regions.
IM Cannabis's recent achievements highlight its commitment to innovation and growth. In Germany, the company is poised to benefit from the regulatory rescheduling of medical cannabis from a narcotic to a regular prescription, which is expected to drive significant market growth. The company has all the necessary infrastructure, including EU-GMP and EU-GDP certifications, to support accelerated growth in this expanding market.
In Israel, the company continues to benefit from the recent medical cannabis regulatory reforms that have made cannabis more accessible to patients. IM Cannabis's strategic alliances with certified suppliers and its comprehensive distribution network, including retail pharmacies and online platforms, position it as a leader in the Israeli market.
IM Cannabis has also formed a significant partnership with Avant Brands Inc. to introduce the BLK MKT™ brand to the German medical cannabis market. This collaboration aligns with IM Cannabis's strategy to provide ultra-premium cannabis products and expand its market presence.
Financially, IM Cannabis has been proactive in managing costs, reducing its annual G&A expenses by 49% in 2023. The company has also secured convertible debentures to support its growth in Germany, reinforcing its commitment to financial prudence and strategic investments.
As IM Cannabis continues to navigate the ever-evolving landscape of the medical cannabis industry, its focus remains on delivering high-quality, reliable products to medical patients, supported by a robust and compliant operational framework.
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.
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.
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