TORONTO and GLIL YAM, Israel, July 5, 2024 /PRNewswire/ — IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the “Company“, “IM Cannabis“, or “IMC“), a leading medical cannabis company with operations in Israel and Germany, announces that the board of directors of the Company (the “Board“) has approved a consolidation of its issued and outstanding common shares (“Common Shares“) on the basis of one post-consolidated Common Share for every six pre-consolidated Common Shares (the “Consolidation“).

The Board has set July 12, 2024 as the effective date of the Consolidation and anticipates the Common Shares to trade on a post-consolidated basis effective July 12, 2024, subject to final confirmation from the Canadian Securities Exchange (the “CSE“) and Nasdaq Stock Market LLC (the “NASDAQ“). Upon the competition of the Consolidation, the CUSIP and ISIN of the Common Shares will be changed to 44969Q406 and CA44969Q4060, respectively. The Company’s name and stock symbols shall remain unchanged.

After giving effect to the Consolidation, the Common Shares will be reduced from 13,394,136 to 2,232,357 Common Shares. No fractional Common Shares will be issued in connection with the Consolidation. Instead, all fractional Common Shares equal to or greater than one-half resulting from the Consolidation will be rounded to the next whole number, otherwise, the fractional Common Share will be cancelled. The exercise price and/or conversion price and number of Common Shares issuable under any of the Company’s outstanding convertible securities will be proportionately adjusted in connection with the Consolidation.

Shareholders of record as of the effective date will receive a letter of transmittal from Computershare Investor Services Inc., the Company’s registrar and transfer agent for the Common Shares, providing instructions for the exchange of their Common Shares as soon as practicable following the effective date. Registered shareholders may also obtain a copy of the letter of transmittal by accessing the Company’s SEDAR+ profile at www.sedarplus.ca. Until surrendered, each share certificate or direct registration system statement representing pre-consolidated Common Shares will represent the number of whole post-consolidated Common Shares to which the holder is entitled as a result of the Consolidation. No action is required by beneficial holders to receive post-consolidation Common Shares in connection with the Consolidation. Beneficial holders who hold their Common Shares through intermediaries (e.g., a broker, bank, trust company investment dealer or other financial institution) and who have questions regarding how the Consolidation will be processed should contact their intermediaries with respect to the Consolidation.

About IM Cannabis Corp.

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IM Cannabis (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 focused its 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 regulatory environments, the Company strives to amplify its commercial and brand power to become a global high-quality cannabis player.

The IMC ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel that enable the safe delivery and quality control of IMC products throughout the entire value chain. In Germany, the IMC ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients.

Disclaimer for Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements under applicable Canadian and U.S. securities laws (collectively, “forward-looking statements“). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements relating to statements relating to completion of the Consolidation, and timing and effect thereof; and the Company amplifying its commercial and brand power to become a global high-quality cannabis player.

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to: the Company’s ability to maintain NASDAQ’s continued listing requirements, the Company’s ability to focus on Israel, Germany and Europe; the Company’s ability to realize upon the stated benefits of the partial legalization of cannabis in Germany; the Company completing the Consolidation, and timing and effect thereof; and the Company amplifying its commercial and brand power to become a global high-quality cannabis player. The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the Company’s ability to continue to meet the listing requirements of the CSE and NASDAQ; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and Focus Medical Herbs Ltd. (collectively, the “Group“) to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide sufficient quantities of medical cannabis to fulfil the Group’s obligations; the Group’s possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group’s cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt and war, conflict and civil unrest in Eastern Europe and the Middle East; the risk of the Company’s inability to capitalize upon the partial legalization of cannabis in Germany; risk that the Company will not complete the Consolidation; and risks the Company will be unable to amplify its commercial and brand power and/or be unable to become a global high-quality cannabis player. Please see the other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual report dated March 28, 2024, which is available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov/edgar. Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward looking statements contained in this press release are expressly qualified by this cautionary statement.

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Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Company Contact:

Anna Taranko, Director Investor & Public Relations
IM Cannabis Corp.
+49 157 80554338
a.taranko@imcannabis.de

Oren Shuster, Chief Executive Officer
IM Cannabis Corp.
+972-77-3603504
info@imcannabis.com

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Wilmington, Delaware, July 04, 2024 (GLOBE NEWSWIRE) — CBD API stands for Cannabidiol Active Pharmaceutical Ingredient. It refers to the pure form of cannabidiol, a compound derived from the cannabis plant. In pharmaceutical contexts, an API (Active Pharmaceutical Ingredient) is the substance responsible for the therapeutic effects of a drug. Therefore, CBD API specifically denotes the isolated form of cannabidiol that is used as a primary ingredient in pharmaceutical formulations. CBD API is utilized in various medicinal and therapeutic products due to its potential health benefits, which include pain relief, anti-inflammatory properties, and potential neuroprotective effects, among others. It differs from other forms of CBD products, such as dietary supplements or cosmetics, by its pharmaceutical-grade purity and intended use in regulated pharmaceutical formulations.

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The global CBD API market has experienced rapid growth in recent years, driven by increasing acceptance of CBD-based products for medical and wellness purposes. CBD, or cannabidiol, derived from the cannabis plant, has gained traction for its potential therapeutic benefits without the psychoactive effects of THC. This market encompasses the production and distribution of CBD in its purest form, often used as an ingredient in pharmaceuticals, nutraceuticals, and personal care products.

Global CBD API Market: Key Datapoints

Advertisement Market Value in 2023	US$ 10.5 Bn
Market Value Forecast by 2034 Advertisement	US$ 137.6 Bn
Growth Rate   Advertisement	26.4%
Historical Data   Advertisement	2016 – 2022
Base Year   Advertisement	2023
Forecast Data   Advertisement	2024 – 2034

Evolving regulations worldwide, particularly in North America and Europe, are facilitating market growth by creating a clearer path for CBD API integration into mainstream products. Rising consumer demand for CBD-infused products like oils, capsules, and topical solutions is diversifying the market. This trend is fueled by growing awareness of CBD’s potential health benefits, including pain relief, anxiety management, and skincare. Ongoing research into the therapeutic properties of CBD is expanding the market’s potential applications. Pharmaceutical companies are exploring CBD’s efficacy in treating conditions ranging from epilepsy to chronic pain management.

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Rising consumer interest in natural and alternative healthcare solutions is driving demand for CBD-based products, creating opportunities for new market entrants and product innovation. Emerging markets in Asia-Pacific and Latin America are becoming increasingly receptive to CBD products, presenting untapped opportunities for market penetration and expansion. Streamlining supply chain processes, from cultivation to extraction and distribution, offers opportunities for cost reduction and market competitiveness.

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Growing acceptance of CBD among consumers and healthcare professionals for therapeutic purposes is expanding the market’s consumer base. Significant investments in CBD research, production facilities, and marketing initiatives are fueling market growth, attracting both venture capital and corporate investments. Collaborations between pharmaceutical companies, research institutions, and CBD manufacturers are accelerating product development and regulatory approvals. For instance, in October 2019, Botanix announced a significant API supply agreement with Purisys. Under this agreement, Purisys will meet Botanix’s increasing demand for synthetic cannabidiol and provide for future commercial supplies as well. This partnership ensures Botanix’s access to the necessary synthetic cannabidiol to support its operational needs and future growth in the market.

The COVID-19 pandemic had a mixed impact on the CBD API market. Disruptions in global supply chains, particularly in regions dependent on CBD imports, initially hindered market growth. However, increased consumer interest in wellness products during the pandemic boosted demand for CBD-based supplements and skincare products, offsetting some supply chain challenges. Some regions accelerated regulatory approvals for CBD products in response to the pandemic, facilitating market expansion despite initial setbacks.

Key Takeaways of the Report: 

• Full spectrum CBD segment by type is expected to grow at a CAGR of 7.4% in the CBD API market due to its effectiveness in leveraging the entourage effect, where various cannabinoids work synergistically to enhance therapeutic benefits. This holistic approach appeals to consumers seeking comprehensive health benefits beyond isolated CBD compounds, driving demand across medical and wellness applications.
• Topicals by dosage form dominated the CBD API market with a substantial revenue share of 19.9% due to their localized application for pain relief, skincare, and inflammation management. These products offer targeted delivery of CBD directly to affected areas, enhancing efficacy and consumer convenience. Increasing consumer preference for non-invasive treatment options and the expanding availability of CBD-infused skincare products further drive the demand for topicals.
• Synthetic segment in the CBD API market is anticipated to be the second largest with a revenue share of 34.3% in 2023 due to scalability, consistency in quality, and regulatory compliance advantages over natural sources. Synthetic CBD offers controlled production processes, ensuring purity and reliability, which are crucial factors for pharmaceutical applications requiring standardized formulations and reliable supply chains.
• Multiple sclerosis segment by indication is anticipated to grow fastest over the forecast period due to CBD’s potential neuroprotective and anti-inflammatory properties, which are beneficial for managing symptoms such as muscle spasms, pain, and cognitive impairment associated with the disease. Growing clinical evidence supporting CBD’s efficacy in neurological conditions is driving increased adoption and research into its therapeutic applications for multiple sclerosis.
• By end user, academic and research institutes segment is anticipated as second leading segment with revenue share of 26.8% due to its pivotal role in advancing CBD research and development. These institutions drive innovation through clinical trials, pharmacological studies, and therapeutic efficacy assessments, fostering a deeper understanding of CBD’s potential applications across various medical conditions. Their contributions are critical in shaping regulatory frameworks and expanding the market for CBD API products.
• In 2023, Europe is anticipated as second leading region in the global CBD API market due to increasing regulatory acceptance and consumer demand for CBD-infused products. Robust healthcare infrastructure supports clinical research and pharmaceutical development, driving market growth. Additionally, rising awareness of CBD’s therapeutic benefits and a proactive approach to cannabis legalization in several European countries further bolster the region’s position in the CBD API market.

Browse Related Category Reports

Following are the major companies active within the CBD API market:

• Averix Bio Llc
• Bedrocan
• Biosyyd Uab
• Biovectra Inc
• Brains
• Cannatrek
• Colombian Golden
• Endopure
• Eurofins
• Gvb Biopharma
• Jordan Process
• Knd Labs
• Purisys 
• Recipharm AB
• Vantage Hemp
• Other Industry Participants

Global CBD API Market

By Type

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• Full spectrum CBD
• Broad-spectrum CBD
• CBD isolate

By Dosage form

• Oils and Tinctures
• Capsules
• Topicals
  • Balm
  • Creams
  • Lotion
  • Salves
• Vapes and Smoking Flower
• Gummies and Other Edibles
• Sublingually 
• Spray
• Others

By Origin

• Natural
• Synthetic

By Indication

• Alzheimer’s Disease
• Autism
• Cancer
• Chronic Pain
• Epilepsy
• Migraine
• Multiple Sclerosis
• Schizophrenia
• Others

By End User

• Pharmaceutical Industry
• Academic and Research Institutes
• Others 

By Region

• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)  

Consult with Our Expert:

Jay Reynolds

The Niche Research

Japan (Toll-Free): +81 663-386-8111

South Korea (Toll-Free): +82-808- 703-126

Saudi Arabia (Toll-Free): +966 800-850-1643

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United Kingdom: +44 753-710-5080

United States: +1 302-232-5106

Email: askanexpert@thenicheresearch.com

Website: www.thenicheresearch.com

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CHICAGO, July 04, 2024 (GLOBE NEWSWIRE) — nuEra Cannabis invites cannabis enthusiasts to celebrate two major events in the cannabis community: the 4th of July and 710. These festivities offer exciting opportunities to enjoy top-quality cannabis products at special discounts.

4th of July Dispensary Hours:

4th of July Cannabis Deals:

From June 30th to July 4th, enjoy exclusive deals on a variety of products from renowned brands like Cresco, Aeriz, and nuEra House of Brands.

Here are some highlights:

• Buy 1, get 30% off
• Buy 2, get 35% off
• Buy 3 or more and get 40% off

Participating Brands: Cresco, Aeriz, Midweek Friday, Interstate 420, Alchemy, and nuEra Premium Flower

Additional Specials:

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• Buy 1 Get 1 50% off – SweetBuzz
• Buy 1 Get 1 50% off – Journeyman

710 Cannabis Concentrates Deals:

Celebrated on July 10th, 710 is dedicated to oils, extracts, and concentrates. The date “710” spells “OIL” upside-down, highlighting its focus on these products. From July 5th to July 10th, take advantage of these special offers:

• Buy 1, get 30% off
• Buy 2, get 35% off
• Buy 3 or more and get 40% off

Participating Brands: Cresco, Aeriz, Midweek Friday, Interstate 420, Alchemy, and nuEra Premium Flower

Special 710 Offers:

• 30% off Wyld products on July 6th and 7th only
• 25% off Revolution Vapes and Extracts on July 10th only

Featured Cannabis Products:

• Rhythm – Sour Diesel Flower: An invigorating sativa dominant strain with a pungent-diesel aroma.
• Journeyman – Tart Lemonade: Vegan, gluten-free, and all-natural, this product offers a sweet and sour flavor.
• The Essence – Orange Push Pop 5-pack J’s: An Indica-dominant hybrid featuring creamy orange flavors with a vanilla aroma.
• Ariez – Cake Breath Flower: A potent strain with a musky scent, perfect for end-of-day relaxation.
• Midweek Friday – Sweet Backwood Vape: Featuring an earthy tobacco flavor with a creamy vanilla aftertaste.

Join us in celebrating summer’s high holidays with fantastic deals and exceptional service. Visit us during our special holiday hours and take advantage of these limited-time offers. For more information, visit our website www.nueracannabis.com or contact your nearest location.

About nuEra Cannabis:

nuEra Cannabis is dedicated to providing high-quality cannabis products to enhance our customers’ experiences. Our offerings include a diverse range of products from top brands, ensuring something for everyone. For further information, please visit nueracannabis.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/45437b4a-0622-4b69-8f95-e5f402254019

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