Common shares of IM Cannabis, a medical cannabis company with operations across Europe, are set to commence trading on November 5 under the ticker “IMCC” on the Canadian Securities Exchange.
IMC will become the first Israeli medical cannabis operator to become publicly listed in Canada. The listing follows the recent completion of its reverse takeover by Israeli-based IMC Holdings that included a private placement offering of subscription receipts for aound C$20.4 million.
IMC is a medical cannabis company and is a well-known Israeli brand of medical cannabis products. In Europe, IMC is building a vertically-integrated medical cannabis business led by its distribution arm in Germany.
IMC intends to establish a foothold in emerging medical cannabis markets including Germany, Portugal and Greece. The company’s core Israeli business includes offering branding, know-how and other intellectual property-related services to the Israeli medical cannabis market. Its key assets in Israel include commercial agreements with licensed producers and an option to purchase licensed entities.