IM Cannabis Corp., a leading medical cannabis company, is pleased to announce its recent consolidation and listing on the Canadian Securities Exchange (CSE) and Nasdaq Stock Market LLC (NASDAQ). The company’s common shares are now trading on a 6:1 post-consolidated basis, with the trading symbol ‘IMCC’ remaining the same on both exchanges.
Following the consolidation, the number of common shares has been reduced from 13,394,136 to 2,232,357. No fractional shares were issued, and any fractional shares equal to or greater than one-half were rounded to the next whole number, while fractional shares below one-half were cancelled. The exercise price and conversion price of the company’s outstanding convertible securities have also 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 access the letter of transmittal on the company’s SEDAR+ profile. Holders of pre-consolidated common share certificates or direct registration system statements do not need to take any action, as these will represent the number of post-consolidated common shares they are entitled to.
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 operates through its commercial relationship with Focus Medical Herbs Ltd. in Israel, leveraging proprietary data and patient insights. In Germany, the company distributes cannabis to pharmacies through Adjupharm GmbH.
With a commitment to responsible growth and compliance, IM Cannabis Corp. aims to become a global high-quality cannabis player. The company’s transnational ecosystem, powered by a unique data-driven approach and a globally sourced product supply chain, positions it for sustainable and profitable growth in its key markets.
Disclaimer: This press release contains forward-looking statements, and actual results may differ materially from those currently anticipated due to various factors and risks. Investors should refer to the company’s annual report for a comprehensive understanding of these risks and uncertainties.
For more information, please contact Anna Taranko, Director Investor & Public Relations, at a.taranko@imcannabis.de or +49 157 80554338.