IM Cannabis Corp., a leading medical cannabis company with operations in Israel and Germany, is announcing that the construction proceedings against Focus Medical Herbs Ltd., were concluded on December 28, 2023. The company maintains “de facto” control of Focus Medical. Focus Medical was indicted and a fine of CAD$129,000 has been imposed. The cultivation facility, which was the focus of the proceedings, was closed in June 2022 in alignment with the company’s strategic shift towards import and sales.
“The Company continues to operate as usual. The importation and sale of our premium brands remain unaffected. Under the circumstances this is the best outcome we could have obtained, and we can look at this as an achievement,” said Oren Shuster, Chief Executive Officer of IMC.
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. The Company leverages a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain. With an unwavering commitment to responsible growth and compliance with the strictest regulatory environments, the Company strives to amplify its commercial and brand power to become a global high-quality cannabis player.