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State Street Global Advisors Announces Planned Change to SPDR® ETF Lineup

Published

5 years ago

April 26, 2019

Reading Time: 4 minutes

BOSTON–(BUSINESS WIRE)–State Street Global Advisors, the asset management business of State
Street Corporation (NYSE: STT), today announced plans to close and
liquidate the SPDR^® MSCI China A Shares IMI ETF (XINA) based
on an ongoing review of the SPDR^® ETF offering and listening
to client feedback.

The final day for creations will be May 29, 2019. Trading of all shares
will be suspended on the NYSE Arca at the open of market on May 30,
2019, and proceeds of the liquidation are scheduled to be sent to
shareholders on or about June 6, 2019. For additional information on the
liquidation, shareholders of the funds can visit www.spdrs.com.

About SPDR^® Exchange Traded Funds

SPDR^® ETFs are a comprehensive family spanning an array of
international and domestic asset classes. SPDR^® ETFs are
managed by SSGA Funds Management, Inc., a registered investment adviser
and wholly owned subsidiary of State Street Corporation. The funds
provide investors with the flexibility to select investments that are
precisely aligned to their investment strategy. Recognized as an
industry pioneer, State Street created the first US listed ETF in 1993
(SPDR S&P 500® – Ticker SPY) and has remained on the forefront of
responsible innovation, as evidenced by the introduction of many
ground-breaking products, including first-to-market launches with gold,
international real estate, international fixed income, and sector ETFs.
For more information, visit www.spdrs.com.

About State Street Global Advisors

For four decades, State Street Global Advisors has served the world’s
governments, institutions and financial advisors. With a rigorous,
risk-aware approach built on research, analysis and market-tested
experience, we build from a breadth of active and index strategies to
create cost-effective solutions. As stewards, we help portfolio
companies see that what is fair for people and sustainable for the
planet can deliver long-term performance. And, as pioneers in index,
ETF, and ESG investing, we are always inventing new ways to invest. As a
result, we have become the world’s third largest asset manager with
nearly US $2.80 trillion* under our care.

* This figure is presented as of March 31, 2019 and includes
approximately $33 billion of assets with respect to SPDR products for
which State Street Global Advisors Funds Distributors, LLC (SSGA FD)
acts solely as the marketing agent. SSGA FD and State Street Global
Advisors are affiliated.

Important Risk Information

Investing involves risk, including the risk of loss of principal.

ETFs trade like stocks, are subject to investment risk, fluctuate
in market value and may trade at prices above or below the ETFs net
asset value. Brokerage commissions and ETF expenses will reduce returns.

Chinese securities A shares involves certain investments risks
and investment considerations including, (i) the small size of the
market for Chinese securities relative to the US market, low volume of
trading relative to U.S. securities, lack of liquidity and in price
volatility, (ii) currency devaluations and other currency exchange rate
fluctuations or blockage, (iii) the nature and extent of intervention by
the Chinese government in the Chinese securities markets, whether such
intervention will continue and the impact of such intervention or its
discontinuation, (iv) the ability of Chinese issuers to unilaterally
suspend trading of their securities, and (v) custody risks associated
with investing through a RQFII.

Derivative investments may involve risks such as potential
illiquidity of the markets and additional risk of loss of principal.

Concentrated investments in a particular industry or sector may
be more vulnerable to adverse changes in that industry or sector.

Foreign (non-U.S.) securities may be subject to greater
political, economic, environmental, credit and information risks.
Foreign securities may be subject to higher volatility than U.S.
securities, due to varying degrees of regulation and limited liquidity.
These risks are magnified in emerging markets.

Equity securities may fluctuate in value in response to the
activities of individual companies and general market and economic
conditions.

Non-diversified funds that focus on a relatively small number of
securities tend to be more volatile than diversified funds and the
market as a whole.

Passively managed funds hold a range of securities that, in the
aggregate, approximates the full Index in terms of key risk factors and
other characteristics. This may cause the fund to experience tracking
errors relative to performance of the index.

State Street Global Advisors and its affiliates (“SSGA”) have not
taken into consideration the circumstances of any particular investor in
producing this material and are not making an investment recommendation
or acting in fiduciary capacity in connection with the provision of the
information contained herein.

Standard & Poor’s, S&P and SPDR are registered trademarks of Standard &
Poor’s Financial Services LLC, a division of S&P Global (“S&P”); Dow
Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow
Jones); and these trademarks have been licensed for use by S&P Dow Jones
Indices LLC (SPDJI) and sublicensed for certain purposes by State Street
Corporation. State Street Corporation’s financial products are not
sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their
respective affiliates and third party licensors and none of such parties
make any representation regarding the advisability of investing in such
product(s) nor do they have any liability in relation thereto, including
for any errors, omissions, or interruptions of any index.

Distributor: State Street Global Advisors Funds Distributors,
LLC, member FINRA, SIPC

Before investing, consider the fund’s investment objectives, risks,
charges and expenses. To obtain a prospectus or summary prospectus which
contains this and other information, call 866.787.2257 or visit
spdrs.com. Read it carefully.

Not FDIC Insured • No Bank Guarantee • May Lose Value

2517820.1.1.GBL.RTL

Contacts

Olivia Offner
+1 617.662.0198
[email protected]

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transfer

IMC to transfer its Oranim Pharmacy shares back to the seller

Published

3 days ago

April 16, 2024

CISION (PR Newswire)

imc-to-transfer-its-oranim-pharmacy-shares-back-to-the-seller

TORONTO and GLIL YAM, Israel, April 16, 2024 /PRNewswire/ — IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the “Company” or “IMC“), a leading medical cannabis company with operations in Israel and Germany, is announcing that, further to the news release dated January 12, 2024, the Company has decided not to make remaining installment payments installments (i.e. NIS 5,873K including interest or 2,154K CAD) by IMC Holdings Ltd., and as such will transfer the 51% shares held by IMC Holdings Ltd back to the seller.

“With the April 1^st cannabis legalization in Germany, we are focusing our resources on the German market, where we expect to see the biggest growth potential,” said Oren Shuster, CEO of IMC. “With both of our core markets, Germany and Israel, currently undergoing rapid evolution, we need to assure that we allocate our resources to the growth opportunities where we expect the best return on investment.”

About IM Cannabis Corp.

IMC (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 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’s 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. Until recently, the Company also actively operated in Canada through Trichome Financial Corp and its wholly owned subsidiaries, where it cultivated, processed, packaged, and sold premium and ultra-premium cannabis at its own facilities under the WAGNERS and Highland Grow brands for the adult-use market in Canada. The Company has exited operations in Canada and considers these operations discontinued.

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, the occurrence of growth opportunities and the likelihood of growth potential.

Forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to: the development and introduction of new products; continuing demand for medical and adult-use recreational cannabis in the markets in which the Company operates; the Company’s ability to reach patients through both e-commerce and brick and mortar retail operations; the Company’s ability to maintain and renew or obtain required licenses; the effectiveness of its products for medical cannabis patients and recreational consumers; and the Company’s ability to market its brands and services successfully to its anticipated customers and medical cannabis patients.

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: any failure of the Company to maintain “de facto” control over Focus Medical in accordance with IFRS 10; 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 effect of the reform on the Company; the Company’s ability to continue to meet the listing requirements of the Canadian Securities Exchange and the NASDAQ Capital Market; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and Focus Medical (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

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 Contacts:

Anna Taranko, Director Investor & Public Relations
IM Cannabis Corp.
+49 157 80554338
[email protected]

Oren Shuster, Chief Executive Officer
IM Cannabis Corp.
[email protected]

Logo – https://mma.prnewswire.com/media/1742228/IM_Cannabis_Logo.jpg

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