IM Cannabis Corp., a leading medical cannabis company with operations in Israel and Germany announces that a complaint was in the Ontario Superior Court of Justice in Canada by Michael Wiener, 35 Oak Holdings Ltd. and MW Investments Ltd. (collectively the “MYM Shareholder Plaintiffs”) against IMC Cannabis Corp. and its board of directors and officers. A copy of this complaint was delivered to IMC on November 17, 2023.
The complaint claims that IMC made misrepresentations in its disclosures prior to the IMC/MYM transaction in 2021. MYM Shareholder Plaintiffs are claiming damages that amount to approximately 15 million dollars. IMC has reviewed the complaint and believes that the allegations are without merit. IMC plans to vigorously defend itself against the allegations. IMC’s policy is not to discuss pending litigation.
About IM Cannabis Corp.
IMC is an international cannabis company that provides premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets. The Company has recently exited operations in Canada to pivot its focus and resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany.
