TORONTO and GLIL YAM, Israel, April 11, 2025 /PRNewswire/ -- IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the "Company", "IM Cannabis", or "IMC"), a leading medical cannabis company with operations in Israel and Germany, today announced the following corporate updates. Nasdaq Notification Letter The Company has received a written notification (the "Notification Letter") from the Nasdaq Stock Market LLC ("Nasdaq") dated April 9, 2025, notifying the Company that it is no longer in compliance with Nasdaq List ...

Financial Data and Key Metrics Changes - The company reported a total revenue of $54 million for 2024, an increase of $5.2 million or 11% compared to $48.8 million in 2023 [25] - Adjusted EBITDA in Q4 2024 was a profit of $0.5 million, a significant improvement of almost $5 million from a loss of $4.3 million in Q4 2023 [13][35] - The net loss for 2024 was $11.8 million compared to $10.2 million in 2023, while the net loss in Q4 2024 was $1.2 million compared to $3.5 million in Q4 2023 [35][36] Business Line Data and Key Metrics Changes - Sales in Germany increased by over 183% in 2024, reaching $15.5 million, with Germany accounting for 40% of total revenue in the second half of 2024 compared to 11% in all of 2023 [15][25] - In Israel, revenue decreased by $4.8 million net, primarily due to the cancellation of the Oranim deal, which resulted in a revenue decrease of approximately $8.5 million compared to 2023 [25][27] - The company launched or relaunched 27 strains across six brands in Israel in 2024, maintaining top-line sales despite the challenges [17] Market Data and Key Metrics Changes - The German market has shown extraordinary growth since the partial legalization in April 2024, with a significant increase in sales velocity [8][15] - The company added three new suppliers and launched 16 new strains in 2024, indicating a strong operational focus on the German market [12][14] Company Strategy and Development Direction - The company focused on full integration and active cost management to drive efficiencies, reducing overall operating expenses by $4 million or 17% in 2024 [11] - The strategic shift towards the German market has proven effective, with plans to continue building a strong supply chain to support growth in 2025 [10][20] - The company aims to maintain efficiency while investing in growth, particularly in Germany, while not expecting significant growth in the Israeli market [57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational improvements made in 2024, setting a solid foundation for growth in 2025, with Q1 expected to be the best quarter in sales to date in Germany [19][40] - The competitive landscape in Germany is dynamic, with expectations of price compression, but management believes margins will not decline significantly [50][52] Other Important Information - The company cleared out slow-moving non-premium stock, impacting cost of sales and gross margin, but does not anticipate similar write-offs in 2025 [18] - Total operating expenses for 2024 were $18.7 million, down from $22.6 million in 2023, reflecting improved operational efficiency [34] Q&A Session Summary Question: Dynamics affecting growth in Germany in Q4 - Management acknowledged delays in Q4 but indicated that Q1 looks promising, attributing the slowdown to supply chain building processes [46] Question: Changes in competitive dynamics in Germany - Management noted that the German market is competitive, with ongoing price compression, but does not foresee significant changes in leading competitors [48][50] Question: Margin profile expectations amid price compression - Management expects margins to remain stable or improve, despite the challenges faced in 2024 due to inventory issues [52][54] Question: Stability of the Israeli market - Management does not foresee significant growth in the Israeli market, focusing resources primarily on the German market [57]

Exhibit 99.1 IM Cannabis Reports Fourth Quarter and Full Year 2024 Financial Results Q4 2024 Caps a Year of Strategic and Operational Improvements for IMC with 25% Revenue Growth, 42% decrease in Operating Expenses, and $0.5M Adjusted EBITDA Profit. TORONTO, Ontario and GLIL YAM, Israel, March 31, 2025 /PRNewswire/ -- IM Cannabis Corp. (the "Company" or "IMC") (NASDAQ: IMCC) (CSE: IMCC), an international medical cannabis company, is pleased to announce its financial results for the fourth quarter and year e ...

Q4 2024 Caps a Year of Strategic and Operational Improvements for IMC with 25% Revenue Growth, 42% decrease in Operating Expenses, and $0.5M Adjusted EBITDA Profit TORONTO and GLIL YAM, Israel, March 31, 2025 /PRNewswire/ -- IM Cannabis Corp. (the "Company" or "IMC") (NASDAQ: IMCC) (CSE: IMCC), an international medical cannabis company, is pleased to announce its financial results for the fourth quarter and year ended December 31, 2024. Unless otherwise stated, all amounts are reported in Canadian dollars a ...

Core Insights - IM Cannabis Corp. will report its operational and financial results for Q4 and full year 2024 on March 31, 2025, before market opens [1] - A Zoom web conference will be held on the same day at 9:00 a.m. ET to discuss the results, followed by a Q&A session for investors [2] Company Overview - IM Cannabis Corp. is a leading international cannabis company focused on providing premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets [3] - The company aims for sustainable and profitable growth in its highest value markets, leveraging a data-driven approach and a globally sourced product supply chain [3] - IM Cannabis is committed to responsible growth and compliance with strict regulatory environments to enhance its commercial and brand power [3] Operational Ecosystem - In Israel, IM Cannabis operates through a partnership with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, utilizing proprietary data and patient insights [4] - The company also runs medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel to ensure safe delivery and quality control of its products [4] - In Germany, IM Cannabis operates through Adjupharm GmbH, distributing cannabis to pharmacies for medical cannabis patients [4]

Auditor Change - IM Cannabis Corp changed its auditor from Kost Forer Gabbay & Kasierer (member of Ernst & Young Global) to Fahn Kanne & Co Grant Thornton Israel effective January 16, 2025 [1] - The change was made at the company's request and approved by the board of directors based on the audit committee's recommendation [1] - The predecessor auditor resigned on the same date and the successor auditor will serve until the next annual shareholders meeting [1] - No reservations, modified opinions or reportable events were noted in the predecessor auditor's reports for the most recent financial year or subsequent periods [2] Company Overview - IM Cannabis Corp is an international cannabis company operating in Israel and Germany, two of the largest medical cannabis markets [3] - The company focuses on sustainable and profitable growth in these high-value markets through a data-driven approach and global supply chain [3] - In Israel, the company operates through subsidiaries that import, distribute and retail medical cannabis, supported by proprietary data and patient insights [4] - The Israeli ecosystem includes retail pharmacies, online platforms, distribution centers and logistical hubs to ensure safe delivery and quality control [4] - In Germany, the company operates through Adjupharm GmbH, distributing cannabis to pharmacies for medical patients [4] Business Strategy - The company is committed to responsible growth and compliance with strict regulatory environments [3] - It aims to amplify commercial and brand power to become a global high-quality cannabis player [3] - The company leverages a transnational ecosystem powered by data and global supply chains [3] - It focuses on sustainable profitability while driving growth in the German market [5]

November 14, 2024 IM Cannabis Reports Third Quarter Financial Results IMC pairs a +12% increase in revenue with a -16% decrease in the total operating expenses, building a solid foundation to deliver in 2025. TORONTO and GLIL YAM, Israel, Nov. 14, 2024 /PRNewswire/ -- IM Cannabis Corp. (the "Company" or "IMC") (NASDAQ: IMCC) (CSE: IMCC), an international medical cannabis company, announced its financial results today for the third quarter ended September 30, 2024. All amounts are reported in Canadian dollar ...

Financial Data and Key Metrics Changes - Revenue for Q3 2024 increased by 12.2% compared to Q3 2023, driven mainly by a 278% increase in German revenue [19][21] - Operating expenses decreased by 16% versus Q3 2023, resulting in an operating expenses ratio of 30% in Q3 2024 compared to 40% in Q3 2023, indicating a 25% increase in efficiency [13][30] - Net loss for Q3 2024 was $1.1 million, an improvement from a net loss of $2.1 million in Q3 2023 [32] Business Line Data and Key Metrics Changes - Sales in Germany increased by 66% from Q2 to Q3 2024, reaching $5.8 million, following a 200% increase from Q1 to Q2 [10][9] - The Israeli business faced challenges, with a 10% decline in the number of medical cannabis patients from July to October 2024 [16] Market Data and Key Metrics Changes - The German cannabis market has seen unprecedented growth since the partial legalization on April 1, driven by an increasing number of patients and better accessibility [7][8] - The average selling price per gram of dried flower increased by 42% to $6.2 per gram in Q3 2024 [19] Company Strategy and Development Direction - The company is focusing on building a solid foundation for accelerated growth in Germany in 2025, emphasizing the integration of German and Israeli teams [6][11] - A strategic shift to concentrate resources on the German market has proven successful, with plans to enhance supply chain efficiency [10][15] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of a stable supply chain and resource management to sustain growth, particularly in light of challenges in the Israeli market [12][14] - The company aims to continue leveraging its understanding of premium market drivers to maximize profitability in Israel while supporting growth in Germany [16][17] Other Important Information - The company reported a gross profit of $3.1 million for Q3 2024, an increase of 19% from Q3 2023 [25] - Total liabilities increased by 15% to $40.4 million as of September 30, 2024, primarily due to the cancellation of the Oranim agreement [35][36] Q&A Session Summary - There were no questions during the Q&A session, indicating a lack of immediate inquiries from participants [38]

Financial Performance - Total revenues for the nine months ended September 30, 2024, were CAD 40,696 thousand, an increase from CAD 38,106 thousand in the same period of 2023, representing a growth of approximately 4.2%[12] - Gross profit before fair value adjustments decreased to CAD 5,818 thousand for the nine months ended September 30, 2024, compared to CAD 9,715 thousand in 2023, reflecting a decline of about 40.5%[12] - Operating loss for the nine months ended September 30, 2024, was CAD 9,452 thousand, compared to CAD 7,627 thousand in the same period of 2023, indicating an increase in losses of approximately 23.9%[12] - Net loss for the nine months ended September 30, 2024, was CAD 10,558 thousand, compared to CAD 6,708 thousand in 2023, representing an increase in net losses of about 57.5%[12] - The company reported a total comprehensive loss of CAD 9,433 thousand for the nine months ended September 30, 2024, compared to CAD 6,670 thousand in the same period of 2023, indicating an increase of about 41.9%[12] - Net loss attributable to equity holders for the nine months ended September 30, 2024, was CAD (9,574) thousand, compared to CAD (6,209) thousand for the same period in 2023, representing an increase in loss of approximately 54%[13] - Total comprehensive loss attributable to equity holders for the nine months ended September 30, 2024, was CAD (8,458) thousand, compared to CAD (6,152) thousand for the same period in 2023, indicating a 37% increase in comprehensive loss[13] - Basic and diluted loss per share attributable to equity holders for the nine months ended September 30, 2024, was CAD (4.29), compared to CAD (2.95) for the same period in 2023, reflecting a 45% increase in loss per share[13] Assets and Liabilities - Total assets as of September 30, 2024, were CAD 44,635 thousand, a decrease from CAD 48,813 thousand as of December 31, 2023, reflecting a decline of approximately 8.9%[6] - Current liabilities increased to CAD 39,248 thousand as of September 30, 2024, compared to CAD 32,808 thousand as of December 31, 2023, marking an increase of about 19.0%[10] - Total liabilities as of September 30, 2024, were CAD 40,425 thousand, up from CAD 35,113 thousand as of December 31, 2023, indicating an increase of approximately 15.5%[10] - Total equity as of September 30, 2024, was CAD 5,954 thousand, a decrease from CAD 19,167 thousand as of September 30, 2023, reflecting a decline in shareholder equity[21] Cash Flow and Working Capital - Net cash provided by operating activities for the nine months ended September 30, 2024, was CAD 3,122 thousand, compared to a net cash used of CAD (7,857) thousand for the same period in 2023, indicating a significant improvement in cash flow[25] - The current working capital is $(11,605,000), indicating a negative liquidity position[41] Inventory and Expenses - The company reported inventory expensed to cost of goods sold of cannabis products was $32,853 thousand for the nine months ended September 30, 2024, compared to $26,359 thousand for the same period in 2023, reflecting an increase of approximately 24.8%[124] - As of September 30, 2024, the carrying value of total inventory was $4,310 thousand, which includes bulk cannabis valued at $733 thousand and packaged dried cannabis valued at $3,468 thousand[124] - The company recorded a depreciation and amortization expense of $1,642 for the nine months ended September 30, 2024, down from $2,265 in the same period of 2023[142] Corporate Actions and Developments - The Company has implemented a cost-saving plan that includes discontinuing loss-making operations and reducing payroll, which is expected to save costs in 2024[42] - The Company exited its operations in Canada, with the Canadian entities being wound down under CCAA proceedings[48] - The Company signed a convertible loan agreement with Telekana Ltd. for a total of $611,000, which will convert to 51% of shares upon receiving approval from the Israeli Ministry of Health[56] - The Company closed its cultivation facility in Israel, resulting in restructuring expenses of $4,383,000 related to impairment of assets[60] - The Company recorded restructuring expenses of $617,000 related to workforce reductions in Israel, completed by mid-2023[61] - The Company received a notification from Nasdaq regarding non-compliance with the minimum share price requirement, with a deadline to regain compliance by January 16, 2024[70] - The Company regained compliance with Nasdaq's minimum bid price requirement on July 26, 2024[71] Financing and Debt - The Company settled outstanding indebtedness of $838,776 (approximately US$615,615) through issuing 492,492 Units at a price of US$1.25 per Unit[47] - Kadimastem Ltd. will provide a loan of up to $650,000 to IMC, with $300,000 upon signing and $350,000 upon executing the definitive agreement[67] - The loan from Kadimastem accrues 9.00% interest per annum for 12 months and is secured by 10% of proceeds from any operation sale under the CVR[68] - The company has borrowed more than US$8,000,000 since October 2022, with a personal guarantee from the CEO, resulting in a benefit of approximately US$560,000[155] Regulatory and Compliance - The Company was assessed excise tax on insurance totaling $199 for 2020 and $73 for 2021, with objections filed for both assessments[74][75] - The Company announced the termination of the preliminary term sheet with Kadimastem, requiring repayment of a $300,000 loan by July 31, 2024[69] Market and Industry Developments - Germany legalized cannabis on April 1, 2024, which is expected to facilitate access to medical cannabis prescriptions[88]

Financial Data and Key Metrics Changes - Revenue for Q2 2024 increased by 11.7% to $14.8 million compared to $13.2 million in Q2 2023, driven by a 129% growth in Germany [10][11] - Average selling price per gram of dried flower rose by 21% to $6.09 in Q2 2024 [10][11] - Gross profit decreased by 75.6% to $0.8 million in Q2 2024, primarily due to inventory clearance and slow-moving stock accruals [12][13] - Non-IFRS adjusted EBITDA loss widened to $2.3 million in Q2 2024 from a loss of $0.5 million in Q2 2023 [13] Business Line Data and Key Metrics Changes - Total dried flower sold in Q2 2024 was approximately 2,333 kilograms, up from 2,128 kilograms in Q2 2023 [11] - The Israeli business is focusing on premium and ultra-premium markets, with new product launches aimed at enhancing market presence [8][9] Market Data and Key Metrics Changes - The German cannabis market is projected to reach approximately $1.5 billion in total sales in 2024 and grow to about $3.7 billion by 2027 [5] - IM Cannabis Corp. reported a 200% increase in sales in Germany in Q2 2024 compared to Q1 2024, reflecting the impact of legalization [6][16] Company Strategy and Development Direction - The company is reallocating resources to support growth in the German market, focusing on building a stable supply chain and enhancing team capabilities [7][9] - The strategy includes launching premium brands in Germany and leveraging existing supply channels from Israel [18][20] Management's Comments on Operating Environment and Future Outlook - Management highlighted the significant growth potential in the German market following legalization, emphasizing the need for adequate supply to meet demand [4][16] - The company is optimistic about its ability to navigate the competitive landscape in Germany, citing established relationships with pharmacies and a strong brand presence [26][27] Other Important Information - The planned reverse merger with Kadimastem was terminated, allowing the company to focus on its cannabis operations [9] - Cash and cash equivalents decreased to $0.7 million as of June 30, 2024, down from $1.8 million at the end of 2023 [14] Q&A Session Summary Question: Supply sourcing for the German market - Management acknowledged supply as a key issue in Germany and confirmed plans to increase orders and introduce new suppliers [17][18] Question: Impact of supply from Israel on the Israeli market - The company clarified that the supply sent from Israel would not detract from opportunities in Israel, as they focus on different market segments [19][20] Question: Infrastructure and cash outlays for German market growth - Management expressed confidence in their ability to support operations and cash flow for growth in the German market [22][23] Question: Key factors for success in the German market - Management attributed success to established market presence, strong relationships with pharmacies, and increased supply following legalization [25][26] Question: Future gross margin outlook - Management indicated that current gross margin reductions were due to inventory clearance, but they expect improvements in future quarters [28][31]