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IM Cannabis Corp. Becomes First Israeli Medical Cannabis Operator to list on NASDAQ; Trading Today Under Symbol "IMCC"
TORONTO, ON and GLIL YAM, ISRAEL / ACCESSWIRE / March 1, 2021 / IM Cannabis Corp. (the "Company" or "IMC") (CSE:IMCC), a multi-country operator ("MCO") in the
About this update from Im Cannabis Corp.
TORONTO, ON and GLIL YAM, ISRAEL / ACCESSWIRE / March 1, 2021 / IM Cannabis Corp. (the "Company" or "IMC") (CSE:IMCC), a multi-country operator ("MCO") in the medical cannabis sector with operations in Israel and Germany, is pleased to announce that the Company's common shares (the "Common Shares") will commence trading today on the NASDAQ Capital Market ("NASDAQ") under the ticker symbol "IMCC". IMC will be the first Israeli medical cannabis operator to list its shares on NASDAQ. The Company's NASDAQ listing is expected to increase access to investment in IMC for retail and institutional investors around the world. Furthermore, with access to a much larger capital market, the Company expects to improve liquidity for its Common Shares and, in turn, optimize its cost of capital."IMC is a rapidly growing international operation and our listing on NASDAQ aligns with our goal of establishing global leadership in the cannabis sector. Our history of operations under the IMC brand spans over a decade in Israel and we are leveraging our expertise for global expansion. In Europe, we are well established in the German medical cannabis market. In Canada, upon completion of the acquisition of Trichome Financial, IMC is expected to become a fully integrated operation in Canada's adult-use and medical cannabis markets through Trichome Financial's wholly-owned subsidiary, Trichome JWC Acquisition Corp. d/b/a JWC. Once the acquisition of Trichome Financial is complete, IMC expects to be the only MCO operating directly in Israel, Europe and Canada," said Oren Shuster, Chief Executive Officer of IMC."International cannabis markets are opening up and expanding rapidly. We have an ambitious growth strategy that includes both organic growth and acquisitions to develop profitable operations in the largest legal cannabis markets. The Company's NASDAQ listing is our next step towards creating long-term shareholder value through rapid expansion and prudent allocation of capital," said Marc Lustig, Executive Chairman of IMC. IMC Investment HighlightsIn Israel, Focus Medical Herbs Ltd. ("Focus Medical"), a licensed producer with an exclusive commercial agreement with IMC to distribute its production under the IMC brand, distributes IMC-branded products through a network of pharmacies including Super Pharm, Israel's largest pharmacy chainIMC has developed and will continue to expand...