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IMC Expects Accelerated Growth in Germany from the Country's Groundbreaking Cannabis Legalization
By rescheduling medical cannabis, from a narcotic to a regular prescription, the German medical cannabis market is expected to deliver strong growth,
About this update from Im Cannabis Corp.
[{"type":"text","content":"By rescheduling medical cannabis, from a narcotic to a regular prescription, the German medical cannabis market is expected to deliver strong growth, providing IMC Germany with a unique opportunity to further accelerate growth in 2024 after delivering 180% growth in 2023 \nTORONTO and GLIL YAM, Israel, March 25, 2024 /PRNewswire/ -- IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the \"Company\", \"IMCannabis\", or \"IMC\"), a leading medical cannabis company with operations in Israel and Germany, is welcoming the German government's final approval legalizing cannabis last Friday, as well as the landmark medical cannabis act that has the potential to facilitate access for many new patients as of April 1st.\n\nThe regulatory rescheduling of cannabis along with the expected market growth, provides IMC with a unique growth opportunity. In Germany, IMC:\nis #1 in sales per SKU within the German flower market1grew +180% in 2023 while the market only grew +20%1has the highest growth in the German market1is the #5 cannabis distributor in Germany1\"We have been working toward this moment for the last 4 years,\" said Richard Balla, CEO of IMC Germany. \"We have the entire infrastructure in house. We are EU-GMP certified to repack bulk. We have an EU-GDP certified logistics center to store cannabis and are delivering IMC Cannabis to any pharmacy in Germany within 24 hours. Our team has extensive cannabis as well as pharmaceutical experience. We have all the necessary supply agreements in place to support accelerated growth. We believe that we are well positioned and are looking forward to growing significantly as the German market evolves as a result of the new legislation,\" concluded Balla.\n1 Insight Health December 2023\nAbout IM Cannabis Corp.\nIMC (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 has recently exited operations in Canada to pivot its focus and resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany. 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 regul...