TORONTO and GLIL YAM, Israel, May 28, 2025
/CNW/ -- IM Cannabis Corp. (the "Company" or "IMC")
(NASDAQ: IMCC) (CSE: IMCC), an international medical cannabis
company, announces that it has applied for a voluntary delisting of
its common shares ("Shares") from the Canadian Securities
Exchange (the "CSE"). The delisting from the CSE will not
affect the Company's listing on NASDAQ and its Shares will continue
trading on the NASDAQ under the symbol "IMCC".
The Company is entertaining potential transactions that, if
completed while the Company is listed on the CSE, would require the
Company to incur unnecessary burdensome costs, approvals and delay.
The Company believes that the trading volume of its Shares on the
CSE no longer justifies the expenses, administrative efforts, and
regulatory burdens required to maintain a dual listing. The Company
also believes that delisting from the CSE will create a central
marketplace for its Shares on the Nasdaq and ultimately benefit the
long-term liquidity and shareholder value of the Company. All
shareholders can continue trading IMC's shares on Nasdaq under the
symbol "IMCC".
The Company is grateful to the CSE for providing its initial
opportunity to access public markets. It is expected, subject to
approval from the CSE, that the close of business on Monday, June 2, 2025, will be the final trading
day for IMC on the CSE.
About IM Cannabis Corp.
IMC (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis
company that provides premium cannabis products to medical patients
in Israel and Germany, two of the largest medical cannabis
markets. The Company leverages a transnational ecosystem powered by
a unique data-driven approach and a globally sourced product supply
chain. With an unwavering commitment to responsible growth and
compliance with the strictest regulatory environments, the Company
strives to amplify its commercial and brand power to become a
global high-quality cannabis player.
The IMC ecosystem operates in Israel through Focus Medical Herbs Ltd., which
imports and distributes cannabis to medical patients, leveraging
years of proprietary data and patient insights. The Company also
operates medical cannabis retail pharmacies, online platforms and
logistical hubs in Israel that
enable the safe delivery and quality control of IMC products
throughout the entire value chain. In Germany, the IMC ecosystem operates through
Adjupharm GmbH, where it distributes cannabis to pharmacies for
medical cannabis patients.
Forward Looking Information
This press release contains certain "forward-looking
statements" within the meaning of Canadian securities law. Any
statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always,
identified by words or phrases such as "believes", "anticipates",
"expects", "is expected", "scheduled", "estimates", "pending",
"intends", "plans", "forecasts", "targets", or "hopes", or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "will",
"should" "might", "will be taken", or "occur" and similar
expressions) are not statements of historical fact and may be
forward-looking statements. Forward-looking information herein
includes, but is not limited to, statements that address
activities, events or developments that the Company expects or
anticipates will or may occur in the future including the Company's
potential delisting from the CSE, the Company's expectation that
its Shares will be delisted from the CSE; the
Company ceasing to file reports to the CSE after delisting; and the
Company's expectation that its Shares will continue trading
on the NASDAQ.
The Company cautions that forward-looking statements are
based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made, and they involve a
number of risks and uncertainties. Consequently, there can be no
assurances that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Except to the extent required by
applicable securities laws and the policies of the Canadian
Securities Exchange, the Company undertakes no obligation to update
these forward-looking statements if management's beliefs, estimates
or opinions, or other factors, should change. Factors that could
cause future results to differ materially from those anticipated in
these forward-looking statements include risks associated with the
Company's potential delisting from the CSE; the Company ceasing to
file reports to the CSE; the Company's ability to relist on the CSE
in the future; the timing and receipt of certain approvals from the
CSE pertaining to the delisting; and the anticipated benefits
associated with delisting.
The reader is urged to refer to additional information
relating to IMC, including its annual information form, can be
located on the SEDAR+ website at www.sedarplus.ca and on
the EDGAR section of the SEC's website at www.sec.gov for
a more complete discussion of such risk factors and their potential
effects.
This list of risk factors should not be construed as
exhaustive. The Company does not undertake any obligation to
publicly update or revise any forward-looking statements or
information contained herein, except as required by applicable
laws. The forward-looking statements contained in this document are
expressly qualified by this cautionary statement.
Company Contact:
Anna Taranko, Director Investor
& Public Relations
IM Cannabis Corp.
+49 157 80554338
a.taranko@imcannabis.de
Oren Shuster, CEO
IM Cannabis Corp.
+972-77-3603504
info@imcannabis.com
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SOURCE IM Cannabis Corp.