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Nutanix Hyperconverges Secondary Storage With Nutanix Mine

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Open Platform Solution Will Make Running and Protecting Applications
Easy

ANAHEIM, Calif.–(BUSINESS WIRE)–Nutanix,
Inc. (NASDAQ: NTNX),
a leader in enterprise cloud computing, today announced Nutanix Mine, a
new open solution that integrates secondary storage operations with the
Nutanix Enterprise Cloud Platform, delivering a complete platform for
primary and secondary storage within the private cloud. Through native
integration with industry-leading backup vendors Veeam, HYCU, Commvault,
Veritas and Unitrends, customers will be able to manage their HCI
environment and backup operations from a single management console,
reducing the operational cost and complexity of standalone back-up and
recovery solutions. Mine will streamline overall deployment, and
simplify the full lifecycle of data backup operations, including
on-going management, scaling and troubleshooting – all while preserving
the customer’s freedom to choose the right back-up service for their
particular infrastructure environment.

According
to Gartner,

“There are many challenges with current backup and
recovery solutions deployed today. The top concerns are most often
related to the cost, complexity and capability.” Gartner goes on to
state, “These costs often continue to rise despite overall cost
improvements in the IT industry, and many organizations continue to
perceive backup as an expensive insurance policy.”1

As companies modernize their datacenter with HCI to realize the
simplicity, performance and scalability needed to run modern
applications, their backup and data protection strategies have remained
siloed from their core datacenter environment. With Nutanix Mine,
customers will be able to converge secondary storage operations into the
Nutanix Enterprise Cloud Platform to deliver intelligent data backup
services for all business applications. Integrated with Nutanix’s native
HCI data fabric that provides intelligent tiering and advanced data
reduction capabilities, Mine will enable enterprises to choose the best
data backup software for their organization, optimized for their Nutanix
HCI environment; reducing the time and expense of configuring standalone
secondary storage solutions.

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“Backup and recovery strategies are often regarded as a painful
necessity for most businesses because of their complexity and lack of
integration into the overall IT infrastructure. Even more modern
solutions, which tout the same customer-centric principles of
hyperconverged infrastructure, only address the challenges of the
secondary storage environment,” said Phil Goodwin, Research Director,
Cloud Data Management for Protection at IDC. “With more applications and
use cases converging on a single platform within the private cloud,
integrating secondary storage tightly with primary datacenter operations
introduces even more flexibility and ease-of-use for customers.”

“As companies modernize their datacenter, they look to new solutions
which make it easy to run business critical applications, eliminating
silos and reducing complexity in their private cloud environment so IT
can serve as the foundation of business success,” said Carey Stanton,
Vice President of Global Alliancesat Veeam. “By integrating our software
so closely with Nutanix through Mine, we’re delivering our joint
customers a full platform for their primary and secondary storage needs,
dramatically reducing the complexity of running and protecting
applications.”

Embracing an open platform strategy, Nutanix Mine will integrate with
popular back-up solutions from Veeam, HYCU, Commvault, Veritas and
Unitrends. Through tight integration with Nutanix’s HCI data fabric and
advanced Prism management console, Mine will provide:

  • A reduction in the complexity of separate systems to back-up and
    recover business data, so secondary storage can be managed as easily
    as primary data storage
  • The simplification of the full lifecycle of data backup operations,
    including initial sizing and procurement, streamlined installation,
    and easy provisioning of the full solution, and
  • The ability to easily scale-out both primary and secondary storage to
    accommodate business growth

“The hyperconverged market’s rapid growth is largely attributable to its
promise of modernizing infrastructure and reducing complexity by
eliminating silos within the datacenter. But even as customers embraced
HCI, the secondary storage silo persisted,” said Sunil Potti, Chief
Product and Development Officer, Nutanix. “With Nutanix Mine, customers
will get all the benefits of collapsing this silo into a single platform
– reduced management complexity, simplified operations and reduced TCO –
without the requirement that they forgo the backup solution best suited
for their business needs.”

Learn more about Nutanix Mine on our blog
or on our website.

Availability

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Nutanix Mine with Veeam, sold by Nutanix, and Nutanix Mine with HYCU are
expected to be available in calendar 2H of 2019. Nutanix Mine with
Commvault, Veritas and Unitrends is expected to be available in a future
release.

(1) Gartner, “Report Highlight for Market Trends: Expand Your
Software-Defined Storage Market by Leveraging Backup and Archiving”, by
Santanu Patro, July 2018, ID G00367503

Supporting Quotes:

“Our customers use our technology to protect their most critical
applications, but have felt the pain points of having their data backup
operate in a silo, separate from the rest of their datacenter,” said
Brian Brockway, Global CTO and VP, Commvault. “With Nutanix Mine, those
customers will be able to integrate their Commvault backup deployments
into the same platform as their primary storage environment and under
the same management plane, eliminating the complexity of siloed
operations.”

“Nutanix and Veritas help enterprise customers abstract the complexity
of managing infrastructure and data for on-premises, hybrid, and
multi-cloud environments,” said Cameron Bahar, Veritas Technologies CTO.
“Our customers can leverage Veritas’ enterprise data services platform
to manage unforeseen business risks and protect their data while
benefiting from tight integrations with the Nutanix Enterprise Cloud
Platform, giving them a unified view of their datacenter operations.”

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“It is critical for our customers to make sure that they are striking a
balance between a reliable data protection solution that also simplifies
IT processes, without sacrificing the solutions that work for their
business,” said Joseph Noonan, Vice President of Products and Marketing,
Unitrends. “Through Nutanix Mine, our customers will benefit from a
solution which allows them to combine two things they love in their
datacenter – the Nutanix Enterprise Cloud Platform and Unitrends Backup
Software – so they can manage their primary and secondary storage from
within a single platform. It gives them the choice to pick the solution
that best fits for their environment while at the same time simplifying
their broader IT operations.”

Forward-Looking Statements

This press release contains express and implied forward-looking
statements, including, but not limited to, statements regarding our
business plans and objectives, new products, product features, services
and technology that are under development or in process, including
Nutanix Mine, the capabilities of such products, product features,
services and technology, including expected third-party integrations
with Nutanix Mine, and our plans to introduce such products, product
features, services and technology in future releases, including the
expected availability of third-party integrations with Nutanix Mine.
These forward-looking statements are not historical facts and instead
are based on current expectations, estimates, opinions, and beliefs.
Consequently, you should not rely on these forward-looking statements.
The accuracy of such forward-looking statements depends upon future
events and involves risks, uncertainties, and other factors beyond our
control that may cause these statements to be inaccurate and cause
actual results, performance or achievements to differ materially and
adversely from those anticipated or implied by such statements,
including, among others: failure to develop, or unexpected difficulties
or delays in developing, new products, services, product features or
technology in a timely or cost-effective basis; delays in the
availability of the Nutanix Mine product and/or expected third-party
integrations; the introduction, or acceleration of adoption of,
competing solutions; and other risks detailed in our quarterly report on
Form 10-Q for our fiscal quarter ended January 31, 2019, filed with the
SEC on March 12, 2019. Our SEC filings are available on the Investor
Relations section of the company website at ir.nutanix.com and on the
SEC’s website at www.sec.gov.
These forward-looking statements speak only as of the date of this press
release and, except as required by law, we assume no obligation to
update forward-looking statements to reflect actual results or
subsequent events or circumstances.

About Nutanix

Nutanix is a global leader in cloud software and hyperconverged
infrastructure solutions, making infrastructure invisible so that IT can
focus on the applications and services that power their business.
Companies around the world use Nutanix Enterprise Cloud OS software to
bring one-click application management and mobility across public,
private and distributed edge clouds so they can run any application at
any scale with a dramatically lower total cost of ownership. The result
is organizations that can rapidly deliver a high-performance IT
environment on demand, giving application owners a true cloud-like
experience. Learn more at www.nutanix.com
or follow us on Twitter @nutanix.

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© 2019 Nutanix, Inc. All rights reserved. Nutanix, the Nutanix logo and
the other Nutanix products and features mentioned herein are registered
trademarks or trademarks of Nutanix, Inc. in the United States and other
countries. All other brand names mentioned herein are for identification
purposes only and may be the trademarks of their respective holder(s).
This press release contains links to external websites that are not part
of Nutanix.com. Nutanix does not control these sites and disclaims all
responsibility for the content or accuracy of any external site. Our
decision to link to an external site should not be considered an
endorsement of any content on such a site.

Contacts

Kate Reed
Director, Public Relations
973-534-9292
[email protected]

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Cannabis

IM Cannabis Announces up to US$1,613,000 Private Placement Offering Led by Management

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THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO and GLIL YAM, Israel, Oct. 4, 2024 /PRNewswire/ — IM Cannabis Corp. (“IM Cannabis” or the “Company“) (NASDAQ: IMCC) (CSE: IMCC), a leading medical cannabis company with operations in Israel and Germany, is pleased to announce that it intends to undertake a non-brokered private placement offering of up to US$1,613,000 through the sale of approximately 625,000 units (each, an “Unit“) at a price per Unit (the “Offering Price“) calculated on the basis of the deemed price per common shares in the capital of the Company (each, a “Share“) equal to the 10-day volume weighted average price of the Shares on Canadian Securities Exchange (the “Exchange“) ending on the trading day preceding October 3, 2024.

Each Unit will be comprised of one Share and one Share purchase warrant (each, a “Warrant“). Each Warrant shall entitle the holder thereof to acquire one additional Share (each, a “Warrant Share) at a price equal to a 50% premium to the Offering Price (the “Warrant Exercise Price“) at any time prior to 5:00 p.m. (Toronto time) on second anniversary of the closing date. The Offering, which is expected to close in one or more tranches, will be led by the Company’s management team, including Oren Shuster, Chief Executive Officer and Chairman of the board of directors (the “Board“) and Shmulik Arbel a director of the Company (together, the “Insiders“).  

All securities issued under the Offering will be subject to a hold period of four months and one day from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

The Company intends to use the proceeds from the Offering for the repayment of a loan to A.D.I. CAR ALARMS & STEREO SYSTEMS Ltd. provided to the Company’s subsidiary IMC Holdings Ltd. on October 11, 2022.

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The closing of the Offering is expected to occur by November 11, 2024.

Loan Bonus

Since October 2022, the Company has borrowed from various groups more than US$8,000,000 (together, the “Loans“). As required by the lenders, Mr. Shuster has personally guaranteed the Loans. The independent members of the Board commissioned a valuation to determine the value of Mr. Shuster’s personal guarantees, which ascribes the benefit to the Company to be approximately US$560,000 (the “Benefit“). The Company and Mr. Shuster intend to enter into a settlement agreement to settle the amount of the Benefit in Shares (a “Settlement Share“) or a pre-funded Share purchase warrant (a “Pre-Funded Warrant“), at the Offering Price. Each Pre-Funded Warrant will entitle the holder to purchase one Settlement Share for a price of $0.00001, upon receipt of shareholder approval to allow Mr. Shuster to become a control person (as defined in the policies of the Exchange). All securities issued in consideration for the Benefit will be subject to a hold period of four months and one day from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities to, or for the account or benefit of, persons in the United States or U.S. persons. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws and may not be offered or sold to, or for the account or benefit of, persons in the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Options and Warrants Cancellation

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Effective today, the Company has cancelled an aggregate of 32,305 options (“Options“) to purchase Shares, which were previously granted to Board members, officers, employees, advisors and consultants of the Company (each a “Participant“). Management reviewed the Company’s outstanding Options and determined that certain Options granted to such Participants, at exercise prices ranging from $6.60 to $600 per Share, no longer represented a realistic incentive to motivate such Participants.

Effective today, the Company has cancelled an aggregate of 142,784 Share purchase warrants (the “Subject Warrants“) to purchase Shares, which were previously granted to Mr. Shuster. Management reviewed the Company’s outstanding warrants and determined that the Subject Warrants at an exercise price of US$9.00 per Share, no longer represented a realistic incentive to motivate Mr. Shuster.

Option Grants

The Company has also approved the grant of 32,305 Options to certain eligible persons of the Company, at an exercise price of greater of: (i) the Warrant Exercise Price; and (ii) US$2.24 per Share, with an expiry date of two years from the date of issuance (the “Option Grants“). The Options Grants vest as follows: one third vest immediately, one third vests on the six-month anniversary and the final one third vests on the twelve-month anniversary. All securities issued under the Option Grants are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with the polices of the Exchange.

Related Party Transactions

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The Company expects that each of Mr. Shuster and Mr. Arbel will be related parties as defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“) as Mr. Shuster and Mr. Arbel will be participating in the Offering, Mr. Shuster will be settling the Benefit. The Company expects that any such resulting related party transaction will be exempt from the formal valuation requirement and minority shareholder approval requirements of MI 61-101 based on the exemptions under sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the Units being purchased and securities issued to settle the Benefit will not exceed 25% of the Company’s market capitalization. The Company expects that the closing of the Offering and the settlement of the Benefit will occur within 21 days of this announcement and that it will not file a material change report in respect of the related party transaction at least 21 days before the closing date. The Company deems this circumstance reasonable and necessary in order to complete the Offering and settlement of the Benefit in an expeditious manner.

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 subsidiaries, 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 center, 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. The securities to be offered pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any United States state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable United States state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 Company Contact:

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

Oren Shuster, CEO
IM Cannabis Corp.
+972-77-3603504
[email protected]

Disclaimer for Forward-Looking Information

Forward-Looking Information and Cautionary Statements

This press release contains forward-looking information or forward-looking statements under applicable Canadian and United States 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: the Offering, including the Company’s intention to undertake the Offering, the expected terms, the anticipated closing date and closing of the Offering in one tranche, the participation of the Company’s management team, the stated intended use of proceeds; the Benefit, including the intention to enter into a settlement agreement with Mr. Shuster to settle the amount of the Benefit in Shares or Pre-Funded Warrant and the closing thereof; and the Company’s plans to issue Option Grants to certain eligible persons.

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Forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to: the Company’s ability to focus and resources to achieve sustainable and profitable growth in its highest value markets; the Company’s ability to mitigate the impact of the Israel-Hamas war on the Company; the Company’s ability to take advantage of the legalization of medicinal cannabis in Germany; the Company’s ability to carry out its stated goals, scope, and nature of operations in Germany, Israel, and other jurisdictions the Company may operate; the Company has the ability to carry out the Offering as stated; the Company has the ability to settle the Benefit as stated; and the Company has the ability to issue Option Grants to certain eligible persons as stated. 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 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 its subsidiaries (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; risks surrounding war, conflict and civil unrest in Eastern Europe and the Middle East, including the impact of the Israel-Hamas war on the Company, its operations and the medical cannabis industry in Israel; risks associated with the Company focusing on the Israel and Germany markets; the inability of the Company to achieve sustainable profitability and/or increase shareholder value; the inability of the Company to actively manage costs and/or improve margins; the inability of the company to grow and/or maintain sales; the inability of the Company to meet its goals and/or strategic plans; the inability of the Company to reduce costs and/or maintain revenues; the Company’s inability to take advantage of the legalization of medicinal cannabis in Germany; the Company’s inability to carry out the Offering as stated; Company’s inability to settle the Benefit as stated; and the Company’s inability to issue Option Grants to certain eligible persons as stated. 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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Germany

IMC Germany Announces Outstanding Preliminary Q3, 2024 Performance with 50% Growth Over Q2

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TORONTO and GLIL YAM, Israel, Oct. 2, 2024 /PRNewswire/ — IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the “Company“, “IMCannabis“, or “IMC“), a leading medical cannabis company with operations in Israel and Germany, is pleased to announce that the preliminary sales results in Germany by its German subsidiary, Adjupharm GmbH (“IMC Germany“), for the third quarter of 2024 have significantly exceeded expectations, showing a remarkable 50% increase in revenue compared to the second quarter, where IMC Germany sold about CAD$ 3.5M. This outstanding growth demonstrates IMC Germany’s successful execution of its strategic initiatives and strong market demand for its products.

Since the partial legalization of cannabis in Germany came into effect in April 2024, the demand for cannabis products in pharmacies has increased significantly, emphasizing the importance of a robust, reliable supply chain.

“Since April 1st, one of our key objectives was to ensure a supply chain strong enough to meet the increase in demand.  This preliminary 50% growth is testament, in part, to delivering on this objective,” said Oren Shuster, CEO of IMC. “We are thrilled with our Q3 performance, which not only surpassed our own targets but also highlights the dedication and hard work of our entire team.”  

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 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.

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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 compliance with Nasdaq’s continued listing requirements, and timing and effect thereof; the potential outcome of the Licensing Agreement and the effect of collaboration with Carmel in the Israeli market and the potential exclusive launch of the BLKMKTTM brand this year in Germany.

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 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.

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CAUTIONARY NOTE REGARDING FUTURE ORIENTED FINANCIAL INFORMATION 

This press release may contain future oriented financial information (“FOFI”) within the meaning of Canadian securities legislation, about prospective results of operations, financial position or cash flows, based on assumptions about future economic conditions and courses of action, which FOFI is not presented in the format of a historical balance sheet, income statement or cash flow statement.

The FOFI has been prepared by management to provide an outlook of the Company’s activities and results and has been prepared based on a number of assumptions including the assumptions discussed under the heading above entitled “Cautionary Note Regarding Future Oriented Financial Information” and assumptions with respect to the costs and expenditures to be incurred by the Company, capital expenditures and operating costs, taxation rates for the Company and general and administrative expenses. Management does not have, or may not have had at the relevant date, firm commitments for all of the costs, expenditures, prices or other financial assumptions which may have been used to prepare the FOFI or assurance that such operating results will be achieved and, accordingly, the complete financial effects of all of those costs, expenditures, prices and operating results are not, or may not have been at the relevant date of the FOFI, objectively determinable. 

Importantly, the FOFI contained in this press release and the documents incorporated by reference herein, are, or may be, based upon certain additional assumptions that management believes to be reasonable based on the information currently available to management, including those assumptions discussed under the heading “Disclaimer for Forward-Looking Statements” and assumptions about: (i) the future pricing for the Company’s products, (ii) the future market demand and trends within the jurisdictions in which the Company may from time to time conduct the Company’s business, and (iii) the Company continued ability to maintain its capital to fund its ongoing business development and future growth.

The FOFI or financial outlook contained in this press release do not purport to present the Company’s financial condition in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, and there can be no assurance that the assumptions made in preparing the FOFI will prove accurate. The actual results of operations of the Company and the resulting financial results will likely vary from the amounts set forth in the analysis presented in any such document, and such variation may be material (including due to the occurrence of unforeseen events occurring subsequent to the preparation of the FOFI). The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management’s best estimates and judgments as at the applicable date. However, because this information is highly subjective and subject to numerous risks including the risks discussed under the heading above entitled “Cautionary Note Regarding Future Oriented Financial Information”, FOFI or financial outlook within this in this press release should not be relied on as necessarily indicative of future results.

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Company Contact:

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

Oren Shuster, CEO
IM Cannabis Corp.
[email protected]

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Gedeon

Gedeon Richter presents analysis on cannabis usage among patients with schizophrenia: a new medical solution to a severe issue might be available

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A novel psychiatric scale developed by colleagues of Gedeon Richter Plc. in collaboration with academia was also presented at the 37th ECNP conference

BUDAPEST, Hungary, Sept. 25, 2024 /PRNewswire/ — During the 37th Annual Meeting of the European College of Neuropsychopharmacology (ECNP), held between 21-24 September 2024, new analyses of cariprazine studies were presented by Gedeon Richter Plc. First of all, cariprazine seems to be an effective treatment option for patients with schizophrenia and comorbid cannabis use disorder, according to one of the five posters presented at the congress. Furthermore, during an industry sponsored session, a new transdiagnostic scale for quantifying and visualizing symptom severity of patients with different psychiatric conditions was also presented, that was developed by the medical team of Gedeon Richter Plc. and recognized professors.

Schizophrenia often co-occurs with cannabis use disorder however, available antipsychotic treatments frequently fail to address both disorders. In a scientific poster showcased by Gedeon Richter at ECNP in Milan, cariprazine was presented to be a potentially effective treatment option for patients with first-episode schizophrenia and comorbid cannabis use disorder according to the results of a 6-month observational study. Four other scientific posters were also presented at the congress by Gedeon Richter about the role of cariprazine in the treatment of schizophrenia such as the efficacy of cariprazine in patients who develop akathisia as a side effect or the impact of functioning on the risk of relapse in patients treated with cariprazine vs placebo. Cariprazine is a 3rd generation antipsychotic medication with a unique receptor profile and proven efficacy in schizophrenia, including negative symptoms.

Lacking biomarkers in psychiatry calls for valid and reliable assessments of psychopathology across mental disorders that are easy to use, bridge research and clinical care, and that can capture clinician and patient perspectives. Recognizing this problem, the Gedeon Richter medical team together with experienced psychiatric professors developed a scale to handle this challenge. Using this new transdiagnostic scale called the Transdiagnostic Global Impression – Psychopathology (TGI-P) scale could help CNS professionals and psychologists to quickly assess and visualize symptoms in several psychiatric conditions. During an industry sponsored session, the details and the usability of the tool were shown to the audience.

About Richter  and About Cariprazine

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