IM Cannabis Corp . (the “Company” or “IM Cannabis“) (CSE:IMCC)(NASDAQ:IMCC), a leading medical and adult-use recreational cannabis company with operations in Israel, Canada, and Germany is pleased to announce that on November 28, 2021, Focus Medical Herbs Ltd. (“Focus Medical“) received approval from the Israeli Ministry of Health (“ MOH “) to import premium, indoor grown medical cannabis from Trichome JWC Acquisition Corp. (“TJAC“), IM Cannabis’ wholly-owned Canadian licensed producer that cultivates and sells the popular WAGNERS brand in the Canadian recreational market. The MOH permit allows Focus Medical to import an initial shipment of premium medical cannabis in a quantity according to the terms of the MOH permit . This initial shipment is subject to TJAC’s receipt of an export permit from Health Canada, which is expected in the coming weeks. Focus Medical expects to import approximately 1,200 kilograms of premium cannabis from TJAC over the course of 2022, as well as strains from other licensed producers such as the Flowr Group (Okanagan) Inc1. IM Cannabis operates in Canada through Trichome Financial Corp. (“ Trichome “) and its subsidiaries TJAC and MYM Nutraceuticals Inc. (“MYM“, and together with Trichome and TJAC, “IMC Canada“).
Launch of WAGNERS in Israel
The imported medical cannabis from IMC Canada’s TJAC facility will be sold by Focus Medical to Israeli medical cannabis patients under the WAGNERS brand, IM Cannabis’ popular Canadian recreational cannabis brand. In Ontario, WAGNERS premium, high-THC indoor-grown dried flower was ranked sixth with 3.8% of the provincial market share for the month of October 2021, showing strong growth since the launch of the WAGNERS brand in June 20212. To learn more about WAGNERS please visit WAGNERS – Well Made Weed (wagnersweed.com) and follow @wagnersweed on Instagram.
Oren Shuster, CEO of IM Cannabis stated, “We are excited that Focus Medical has received approval from the MOH to import TJAC’s premium, indoor-grown dried flower, allowing for the launch of the WAGNERS brand in Israel. This launch underscores the importance of IM Cannabis’ vertically integrated, multi-country strategy. By leveraging IMC Canada’s cultivation hub, our supply chain expertise, and our knowledge of the demands from medical cannabis patients and recreational cannabis consumers in various markets around the world, we will soon be able to provide Israeli medical cannabis patients with the premium quality indoor-grown cannabis that they demand. This integrated, global cannabis supply chain also enhances shareholder value by distributing Canadian-grown cannabis in multiple markets and at high margins.”
