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IM Cannabis Corp. has received approval from NASDAQ to list its common shares under the ticker symbol IMCC, with trading expected to commence on March 1, 2021. This milestone is part of the Company's international growth strategy aimed at enhancing shareholder value through increased liquidity.
The listing is subject to meeting regulatory requirements, including the filing of a Form 40-F Registration Statement with the SEC. IMC operates in the medical cannabis sector across Israel and Germany and has developed a strong brand presence in the Israeli market.
IM Cannabis Corp. has announced the appointment of Brian Schinderle and Haleli Barath as independent directors to its Board. This move is part of the company's strategy to meet NASDAQ listing requirements. CEO Oren Shuster expressed optimism about these appointments enhancing the board's expertise and supporting international growth plans. Mr. Schinderle brings significant experience from the cannabis sector, while Ms. Barath has a strong background in law and corporate advising. Concurrently, board members Rafael Gabay and Steven Mintz have resigned, and IMC plans to list on NASDAQ in Q1 2021.
IM Cannabis Corp. (CSE:IMCC) announced that its common shares began trading on a post-consolidation basis as of February 12, 2021, reducing the total from 160,565,748 to 40,141,455 shares. This consolidation is part of the company's strategy to meet the NASDAQ Capital Market requirements. The share consolidation ratio is one post-consolidation share for every four pre-consolidation shares, with associated adjustments to warrants. The company is focused on expanding its presence in the medical cannabis sector in Israel and Germany and aims for a successful NASDAQ listing pending regulatory approvals.
