IM Cannabis Corp., a leading medical cannabis company with operations in Israel and Germany, has announced that its common shares are now trading on the Canadian Securities Exchange (CSE) and Nasdaq Stock Market LLC (NASDAQ) on a 6:1 post-consolidated basis. This marks a significant milestone for the company.
Following the consolidation, the number of common shares has been reduced from 13,394,136 to 2,232,357. Fractional common shares resulting from the consolidation have been rounded to the next whole number, while fractional common shares equal to or greater than one-half have been cancelled. The exercise price, conversion price, and number of common shares issuable under the company’s outstanding convertible securities have been adjusted proportionately.
Computershare Investor Services Inc., the company’s registrar and transfer agent, has sent letters of transmittal to registered shareholders, providing instructions for the exchange of their common shares. Shareholders can also access the letter of transmittal through the company’s SEDAR+ profile.
IM Cannabis Corp. is an international cannabis company that focuses on providing 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 strict regulatory environments, IM Cannabis Corp. aims to become a global high-quality cannabis player. The company operates in Israel through its commercial relationship with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients. In Germany, the company operates through Adjupharm GmbH, distributing cannabis to pharmacies for medical cannabis patients.
IM Cannabis Corp. is dedicated to achieving sustainable and profitable growth in its highest value markets. By amplifying its commercial and brand power, the company aims to solidify its position as a leader in the global cannabis industry.
Disclaimer: This press release contains forward-looking statements, and actual results may differ materially from those currently anticipated or implied by such statements. Investors should refer to the company’s annual report for a comprehensive understanding of the risks and uncertainties involved.