IM Cannabis Corp. Announces Annual General Meeting Results

Published: March 18, 2020

IM Cannabis Corp. Announces Annual General Meeting Results

IM Cannabis Corp. announced that at the annual general meeting of shareholders of the Company held earlier today, the shareholders elected Oren ShusterMarc LustigSteven MintzRafael Gabay and Vivian Bercovici as directors of the Company. Incumbent director Jesse Kaplan did not seek re-election at the Meeting and Rafael Gabay and Vivian Bercovici were elected to the board of directors (the “Board“) for the first time. The Board would like to thank Mr. Kaplan for his service and contributions to the Company.

Mr. Gabay has more than 20 years of experience in management positions in the technology sector. Mr. Gabay is currently the Chairman and Co-Founder of Ewave Group Ltd. (“Ewave“) and has held these roles since the company’s inception in 1999. Through Ewave, Mr. Gabay owns and manages a portfolio of companies in various fields including real estate, internet of things, healthcare and mobile technology. Mr. Gabay is also a significant shareholder who owns and/or controls approximately 22% of the Company’s common shares.

Ms. Bercovici is currently a consultant to various medical cannabis and medical device entities regarding operational issues and market opportunities in IsraelEurope and Canada. From March 2017 to March 2018, Ms. Bercovici was the Managing Director, Europe and Israel at Nuuvera Inc., a Toronto-based medical cannabis company that was acquired by Aphria Inc. Ms. Bercovici also served as Canada’s Ambassador to Israel from 2014 through 2016, having been appointed by then Prime Minister Stephen Harper. Ms. Bercovici has vast experience of over 20 years practicing law in Toronto, specializing in media defence and financial services regulatory law.

The shareholders passed all other motions at the Meeting, including a re-approval of the Company’s 10% rolling stock option plan.

IMC is an international medical cannabis company, and a well-known Israeli brand of medical cannabis products. In Europe, IMC is establishing a medical cannabis operation first with its distribution subsidiary in Germany and augmented by strategic agreements with certified EU-GMP Standard suppliers, making it one of the only medical cannabis companies with fully integrated operations in Europe.