Full Press Release Details
IM Cannabis announces Focus Medical's Receipt of Israeli
Ministry of Health Import Permit; Plans to Launch WAGNERS Brand in
IM Cannabis' popular recreational cannabis brand WAGNERS will
be available in Israel in 2022, enhancing IM Cannabis'
presence in the market
Toronto, Canada and Glil Yam, Israel November 29, 2021
Corp. (the Company or IM Cannabis ) (CSE: IMCC, NASDAQ:
IMCC), a leading medical and adult-use recreational cannabis
company with operations in Israel, Canada, and Germany is pleased
to announce that on November 28, 2021, Focus Medical Herbs Ltd.
Medical ) received approval from the Israeli Ministry
of Health ( MOH ) to import premium, indoor
grown medical cannabis from Trichome JWC Acquisition Corp.
Cannabis' wholly-owned Canadian licensed producer that
cultivates and sells the popular WAGNERS brand in the Canadian
recreational market. The MOH permit allows Focus Medical to import
an initial shipment of premium medical cannabis in a quantity
according to the terms of the MOH permit . This initial shipment is
subject to TJAC's receipt of an export permit from Health
Canada, which is expected in the coming weeks. Focus Medical
expects to import approximately 1,200 kilograms of premium cannabis
from TJAC over the course of 2022, as well as strains from other
licensed producers such as the Flowr Group (Okanagan)
Inc1. IM Cannabis operates in Canada through
Trichome Financial Corp. ( Trichome ) and its subsidiaries
TJAC and MYM Nutraceuticals Inc. ( MYM , and together with Trichome
Launch of WAGNERS in Israel
imported medical cannabis from IMC Canada's TJAC facility
will be sold by Focus Medical to Israeli medical cannabis patients
under the WAGNERS brand, IM Cannabis' popular Canadian
recreational cannabis brand. In
Ontario, WAGNERS premium, high-THC indoor-grown dried flower was
ranked sixth with 3.8% of the provincial market share for the month
of October 2021, showing strong growth since the launch of the
WAGNERS brand in June 20212. To learn
more about WAGNERS please visit WAGNERS - Well Made
Weed (wagnersweed.com) and follow @wagnersweed on
Oren Shuster, CEO of IM Cannabis stated, We are
excited that Focus Medical has received approval from the MOH to
import TJAC's premium, indoor-grown dried flower, allowing
for the launch of the WAGNERS brand in Israel. This launch
underscores the importance of IM Cannabis' vertically
integrated, multi-country strategy. By leveraging IMC
Canada's cultivation hub, our supply chain expertise, and our
knowledge of the demands from medical cannabis patients and
recreational cannabis consumers in various markets around the
world, we will soon be able to provide Israeli medical cannabis
patients with the premium quality indoor-grown cannabis that they
demand. This integrated, global cannabis supply chain also enhances
shareholder value by distributing Canadian-grown cannabis in
multiple markets and at high margins.
About IM Cannabis Corp.
Cannabis (NASDAQ: IMCC, CSE: IMCC) is a leading international
cannabis company providing premium products to medical patients and
adult-use recreational consumers. IM Cannabis is one of the very
few companies with operations in Israel, Germany and Canada, the
three largest federally legal markets. The ecosystem created
through its international operations leverages the Company's
unique data-driven perspective and product supply chain globally.
With its commitment to responsible growth and financial prudence,
and the ability to operate within the strictest regulatory
environments, the Company has quickly become one of the leading
cultivators and distributors of high-quality cannabis
1 Focus Medical received import permit from the MOH
for Flowr Group (Okanagan) Inc's products on November 28,
2 Source: OCS Power BI.
Cannabis ecosystem operates in Israel through its commercial
relationship with Focus Medical Herbs, which cultivates, 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
centres and logistical hubs in Israel that enable the safe delivery
and quality control of IM Cannabis products throughout the entire
value chain. In Germany, the IM Cannabis ecosystem operates through
Adjupharm GmbH ( Adjupharm ), where it also
distributes cannabis to medical patients. In Canada, the Company
operates through TJAC and MYM, where it cultivates and processes
cannabis for the adult-use market at its Ontario and Nova Scotia
facilities under the WAGNERS and Highland Grow brands.
About Focus Medical Herbs Ltd.
Medical is one of eight original licensed producers of medical
cannabis in Israel and has over 10 years of experience growing high
quality medical cannabis in the Israeli market. Focus Medical is an
"investee" of the Company under IFRS due to the Company's "de facto
control" over Focus Medical despite not having any direct or
indirect ownership of it. Focus Medical has an exclusive commercial
agreement with IMC to distribute its production under the IMC
brand. In addition to its own capacity, Focus Medical has supply
agreements with other cultivators for additional supply using its
proprietary genetics and for sale under the IMC brand.
Disclaimer for Forward-Looking Statements
press release contains forward-looking information
and forward-looking statements within the meaning of
applicable Canadian and United States securities laws
(collectively, forward-looking information ).
Forward-looking information are often, but not always, identified
by the use of words such as seek ,
anticipate , believe ,
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