IM Cannabis Corp., an international medical cannabis company based in Toronto and Glil Yam, Israel, has initiated the process to voluntarily delist its common shares from the Canadian Securities Exchange (CSE). This decision will not impact the company’s listing on NASDAQ, where shares will continue to trade.
The company cites the declining trading volume of its shares on the CSE as a key reason for the delisting. IM Cannabis argues that the costs associated with maintaining a dual listing, including administrative efforts and regulatory compliance, are no longer justified by the trading activity on the Canadian exchange. By focusing solely on NASDAQ, the company aims to create a centralized marketplace for its shares, potentially improving liquidity and shareholder value in the long term.
IM Cannabis has also indicated that pursuing certain business transactions while still listed on the CSE would involve unnecessary costs and delays. The company expresses appreciation to the CSE for providing access to public markets during its earlier growth stages.
If approved by the CSE, IM Cannabis expects the final trading day on this exchange to be June 2, 2025. The company continues to operate in key markets, supplying premium cannabis products to medical patients in Israel and Germany, leveraging a data-driven approach and a globally sourced supply chain.
In Israel, IM Cannabis operates through Focus Medical Herbs Ltd., which imports and distributes cannabis products to medical patients. The company also runs medical cannabis retail pharmacies and online platforms to ensure the safe delivery and quality control of its products.
In Germany, the company functions through Adjupharm GmbH, distributing cannabis to pharmacies for medical patients. IM Cannabis aims to streamline its operations and enhance its market position by focusing on its NASDAQ listing.
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