IM Cannabis Corp. (NASDAQ: IMCC), an international medical cannabis company, has announced its intention to voluntarily delist its shares from the Canadian Securities Exchange (CSE). This decision will not impact its listing on NASDAQ, where shares will continue to trade under the symbol ‘IMCC’.
The company cited low trading volumes on the CSE as a primary reason for the delisting, stating that maintaining a dual listing has become cost-prohibitive. IM Cannabis believes that focusing solely on NASDAQ will streamline its operations and create a centralized marketplace, potentially improving liquidity and shareholder value.
IM Cannabis is currently considering several transactions that would be hindered by the requirements and costs associated with remaining listed on the CSE. The company expressed appreciation for the CSE’s role in providing initial access to public markets.
Pending approval from the CSE, the last trading day for IM Cannabis on the exchange is expected to be Monday, June 2, 2025.
IM Cannabis operates in two of the largest medical cannabis markets, Israel and Germany. The company supplies premium cannabis products to medical patients and utilizes a data-driven approach to manage its operations. In Israel, IM Cannabis distributes cannabis through Focus Medical Herbs Ltd. and operates medical cannabis retail pharmacies and online platforms, ensuring quality control throughout the supply chain. In Germany, the company partners with Adjupharm GmbH to distribute cannabis to pharmacies.
IM Cannabis aims to comply with strict regulations while expanding its commercial reach and brand recognition. This strategy is part of its goal to establish itself as a prominent player in the global cannabis market.
The company cautions that its forward-looking statements regarding the delisting and other future events are based on current management beliefs and may be subject to various risks and uncertainties. Changes in market conditions or regulatory challenges could impact the expected outcomes. For more detailed information about IM Cannabis, including risk factors, stakeholders are encouraged to consult the SEDAR+ and SEC websites.
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