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) will release its operational and financial results for Q2 2022 on August 15, 2022, before market opens. The company, based in Israel, Canada, and Germany, focuses on medical and recreational cannabis. A Zoom conference is scheduled for the same day at 9:00 AM ET to discuss these results, followed by a Q&A session for investors. For those unable to attend, a recording will be accessible on the company's website within 24 hours post-call.
IM Cannabis Corp. (CSE: IMCC, NASDAQ: IMCC) announced it received a notification from Nasdaq on July 13, 2022, indicating non-compliance with minimum bid price requirements after its stock closed below $1.00 for 30 consecutive business days. The company has until January 9, 2023, to regain compliance by maintaining a closing bid price above $1.00 for at least 10 consecutive days. The notification does not impact IM Cannabis's listing on Nasdaq Capital Market or its Canadian Securities Exchange status.
IM Cannabis Corp. (CSE: IMCC, NASDAQ: IMCC) reported Q1 2022 revenues of $23.6 million, a remarkable 169% increase year-over-year. Gross profit grew 37% from Q1 2021 to $6.4 million. The company is on track to achieve positive Adjusted EBITDA in Q2 2022. Strategic acquisitions in Israel, including leading pharmacies, were completed to bolster market presence. Despite a net loss of $10.7 million and increased expenses, management highlighted strong demand for its WAGNERS brand and plans for growth in Germany.
IM Cannabis Corp (CSE: IMCC, NASDAQ: IMCC), a prominent cannabis company operating in Israel, Canada, and Germany, is set to release its Q1 2022 financial results on May 12, 2022, after market close. The results will be followed by a conference call scheduled for 5:00 p.m. ET, where management will discuss the performance and answer questions. The company operates across key markets and focuses on high-quality cannabis products for medical and recreational consumers.
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.
FAQ
What is the current stock price of IM Cannabis Common Shares (IMCC)?
What is the market cap of IM Cannabis Common Shares (IMCC)?
What does IM Cannabis Corp. specialize in?
Where does IM Cannabis Corp. primarily operate?
What are some of the popular products of IM Cannabis?
What recent strategic move has IM Cannabis made?
How is IM Cannabis positioned to benefit from the German market?
What is the role of Focus Medical Herbs Ltd. in IM Cannabis's operations?
What strategic alliances has IM Cannabis formed?
How has IM Cannabis managed its financials recently?
How does IM Cannabis ensure the quality of its products?
What makes IM Cannabis's approach unique?
