IM Cannabis Corp is a leading vertically integrated cannabis company that specializes in the cultivation, production, and distribution of medical and recreational cannabis products
Based in Canada and with operations extending into international markets, the company focuses on providing high-quality cannabis to consumers while adhering to regulatory standards. IM Cannabis prioritizes innovation and sustainability in its cultivation practices and offers a diverse range of products, including dried flower, oils, and infused edibles, all aimed at enhancing the wellness and lifestyle of its customers. Through strategic partnerships and an expanding global footprint, the company aims to become a key player in the evolving cannabis industry.
International medical cannabis company IM Cannabis Corp. (NASDAQIMCC) (CSE: IMCC) announced on Thursday its financial results for the third quarter ended Sept. 30, 2024. The company reported revenue from Germany grew 66% year-over-year, reaching CA$5.8 million ($4.1 million). "While the 66% growth we delivered in Germany, to reach $5.8M this quarter is a highlight, we spent the quarter focused on building a solid foundation for 2025," Oren Shuster, the company's CEO, said. "Our goal was to build a strong, consistent supply chain, along with a laser focus on how to improve the efficiency and accuracy of how we use our resources. I believe that the foundation we built this quarter will be the basis we will use to deliver in 2025."
Canopy Growth Corporation (TSX: WEED) (NASDAQCGC) will report the second quarter of fiscal year 2025 ended Sept. 30, before financial markets open on Friday, Nov. 8, 2024. IM Cannabis Corp. (CSE: IMCC) NASDAQ: IMCCNASDAQIMCC)
The U.S. Hemp Roundtable made headlines in early September as its board of directors welcomed two distinguished leaders from the hemp beverage sector to its officer ranks. New York's chief equity officer at the state Office of Cannabis Management, Damian Fagon, has formally resigned, effective November 27.
Medical cannabis company with operations in Israel and Germany, IM Cannabis Corp. (NASDAQIMCC) (CSE: IMCC), intends to undertake a non-brokered private placement offering of up to $1,613,000 through the sale of roughly 625,000 units. What Happened: Each unit will be comprised of one share and one share purchase warrant, with each warrant entitling the holder to acquire one additional share at a price equal to a 50% premium to the offering price before the second anniversary of the closing date. The company plans to close the offering in one or more tranches. It will be led by the company's management team, including Oren Shuster, CEO and chairman of the board of directors and Shmulik Arbel, a director of the company.
Spain's Ministry of Health revealed this week a draft royal decree for public consultation, outlining the suggested regulations for prescribing cannabis-based medications, reported Business of Cannabis. The news comes after years of negotiation and an increase in the legal production of medical cannabis, as earlier reported.
The company, announced its financial results Wednesday for the second quarter ended June 30, 2024, revealing a 12% year-over-year increase in revenue to CA$14.8 million in the second quarter of 2023. The company also reported a 129% year-over-year increase in IMC Germany sales to CA$3.5 million, making up 24% of the entire company revenue.
Some European cannabis companies are already planning initial public offerings (IPOs) on the Nasdaq, encouraged by the prospect of a less restrictive regulatory environment. The potential rescheduling of cannabis to Schedule III of the Controlled Substances Act and Germany’s recent decriminalization have ignited optimism within the sector.
Lifeist Wellness Inc. (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: LFSWF) said on Wednesday the sale of Australian Vaporizers Pty Ltd., its wholly owned Australian subsidiary to Flora Growth Corp. (NASDAQFLGC).The sale, first announced in September 2023, was wrapped up through a share purchase agreement, under which Lifeist has sold the issued and outstanding shares of Aussie Vapes to Flora, for roughly CA$900,000 ($658,439). The sum is payable by Flora issuing from treasury to Lifeist 550,000 of its common shares.In the meantime,
Cannabis companies and advocates applaud President Biden's announcement to reschedule and legalize cannabis, calling it a major leap forward and opportunity to correct long-standing wrongs and improve the industry's cashflow.
Shares of marijuana growers and related companies are trading higher Thursday after President Biden announced that the Department of Justice has moved to reclassify marijuana from a Schedule I substance to a Schedule III.
IM Cannabis reported a 13% sequential increase in revenue for the three months ended March 31, 2024, hitting CA$10.7 million ($7.8 million). That is, however, a 4% decrease compared to the same quarter of last year.Oren Shuster, the company's CEO, said IM Cannabis will double down on Germany, now that recent approvals from both the German Bundesrat and Bundestag legalized the possession of marijuana.
Cannabis stocks soared Tuesday following reports that the DEA will move to reschedule marijuana from a Schedule I to a Schedule III substance. IM Cannabis shares are holding the gains, while larger weed stocks including Canopy Growth Corporation, Aurora Cannabis, Inc. and Tilray Brands, Inc. are dropping Wednesday.
