IM Cannabis Announces Receipt Of Court Action


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IM Cannabis Announces Receipt Of Court Action
IM Cannabis Announces Receipt Of Court Action

, /CNW/ — IM Hashish Corp. (CSE: IMCC) (NASDAQ: IMCC) (the “Company” or “IMC“), a number one medical hashish firm with operations in Israel and Germany broadcasts {that a} grievance was within the Ontario Superior Court docket of Justice in Canada by Michael Wiener, 35 Oak Holdings Ltd. and MW Investments Ltd. (collectively the “MYM Shareholder Plaintiffs“) towards IMC Hashish Corp. and its board of administrators and officers, (collectively, “IMC“). A replica of this grievance was delivered to IMC on November 17, 2023.

The grievance claims that IMC made misrepresentations in its disclosures previous to the IMC/MYM transaction in 2021. MYM Shareholder Plaintiffs are claiming damages that quantity to roughly 15 million {dollars}.

IMC has reviewed the grievance and believes that the allegations are with out advantage. IMC plans to vigorously defend itself towards the allegations. IMC’s coverage is to not talk about pending litigation.

About IM Hashish Corp.

IMC (Nasdaq: IMCC) (CSE: IMCC) is a global hashish firm that gives premium hashish merchandise to medical sufferers in Israel and Germany, two of the most important medical hashish markets. The Firm has just lately exited operations in Canada to pivot its focus and assets to attain sustainable and worthwhile development in its highest worth markets, Israel and Germany. The Firm leverages a transnational ecosystem powered by a singular data-driven strategy and a globally sourced product provide chain. With an unwavering dedication to accountable development and compliance with the strictest regulatory environments, the Firm strives to amplify its industrial and model energy to develop into a world high-quality hashish participant.

The IMC ecosystem operates in Israel by its industrial relationship with Focus Medical Herbs Ltd., which imports and distributes hashish to medical sufferers, leveraging years of proprietary knowledge and affected person insights. The Firm additionally operates medical hashish retail pharmacies, on-line platforms, distribution facilities, and logistical hubs in Israel that allow the secure supply and high quality management of IMC’s merchandise all through your complete worth chain. In Germany, the IMC ecosystem operates by Adjupharm GmbH, the place it distributes hashish to pharmacies for medical hashish sufferers. Till just lately, the Firm additionally actively operated in Canada by Trichome Monetary Corp and its wholly owned subsidiaries, the place it cultivated, processed, packaged, and bought premium and ultra-premium hashish at its personal amenities beneath the WAGNERS and Highland Develop manufacturers for the adult-use market in Canada. The Firm has exited operations in Canada and considers these operations discontinued.

Disclaimer for Ahead-Wanting Statements

This press launch accommodates forward-looking data or forward-looking statements beneath relevant Canadian and U.S. securities legal guidelines (collectively, “forward-looking statements”). All data that addresses actions or developments that we count on to happen sooner or later are forward-looking statements. Ahead-looking statements are sometimes, however not all the time, recognized by way of phrases resembling “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an occasion or end result “may”, “will”, “should”, “could” or “might” happen or be achieved and different related expressions. Ahead-looking statements are based mostly on the estimates and opinions of administration on the date the statements are made. Within the press launch, such forward-looking statements embrace, however usually are not restricted to, statements referring to the allegations towards the Firm by MYM Shareholder Plaintiffs and the chance of the grievance and its decision.

Ahead-looking data on this press launch are based mostly on sure assumptions and anticipated future occasions, particularly: the Firm being able to keep up Canadian Securities Trade and NASDAQ Capital Market’s continued itemizing necessities; the Firm specializing in Israel and Germany; the Firm will amplify its industrial and model energy and develop into a world high-quality hashish participant; and the Firm being able to stick to the said phrases and proposed makes use of and advantages of the debt, together with the Firm’s objectives of making certain entry to medicinal hashish and assembly the wants of present and future sufferers.

Since forward-looking statements tackle future occasions and circumstances, by their very nature they contain inherent dangers and uncertainties. Precise outcomes could differ materially from these at present anticipated or implied by such forward-looking statements as a result of a variety of components and dangers. These embrace: the failure of the Firm to adjust to relevant regulatory necessities in a extremely regulated business; sudden adjustments in governmental insurance policies and laws within the jurisdictions wherein the Firm operates; the Firm’s incapability to proceed to satisfy the itemizing necessities of the Canadian Securities Trade and the NASDAQ Capital Market; any sudden failure to keep up its licenses in good standing or renew them; the Firm’s incapability to concentrate on Israel and Germany; the impact of the Israel-Hamas Conflict on the Firm’s operations; adjustments to the classification of hashish in Israel; the lack of the Firm to amplify its industrial and model energy to develop into a world high-quality hashish participant; and the Firm’s incapability to stick to the said phrases and proposed makes use of and advantages of the debt, together with the Firm’s objectives of making certain entry to medicinal hashish and assembly the wants of present and future sufferers.

Any forward-looking assertion included on this press launch is made as of the date of this press launch and relies on the beliefs, estimates, expectations and opinions of administration on the date such forward-looking data is made.

The Firm doesn’t undertake any obligation to replace forward-looking statements besides as required by relevant securities legal guidelines. Buyers shouldn’t place undue reliance on forward-looking statements. Ahead-looking statements contained on this press launch are expressly certified by this cautionary assertion.

Emblem: https://vapemonitor.com/wp-content/uploads/2023/11/localimages/IM_Cannabis_Logo.jpg

Firm contacts:

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

Oren Shuster, Chief Government Officer
IM Hashish Corp.
[email protected]

SOURCE IM Hashish Corp.


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