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IM Cannabis Announces Board Changes and Strategic Decision to Identify Additional Business Opportunities
Prnewswire· 2025-09-16 10:07
Board Changes - IM Cannabis Corp. announced the resignation of Messrs. Shmulik Arbel and Brian Schinderle from the Board, Audit Committee, and Compensation Committee effective September 15, 2025 [1][2] - Messrs. Asaf Yitzhaik and Eli Zamir have been appointed to the Board and the Audit Committee to fill the vacancies created by the resignations, with Mr. Zamir also joining the Compensation Committee [2] New Board Members - Mr. Yitzhaik has over three decades of experience in retail and real estate, owning ASI Glasses and holding directorships in several publicly traded companies [3] - Mr. Zamir has extensive expertise in finance and capital markets, having served as CEO of an underwriting firm and CFO of a public real estate company, and currently leads M&A and financing activities in the renewable energy sector [4] Leadership Changes - Mr. Oz Adler has been appointed as the new Chairman of the Board, replacing Mr. Oren Shuster, who remains the Chief Executive Officer and a director [5] Strategic Review - The Company is conducting an ongoing strategic review and is exploring the introduction of additional business activities to enhance long-term growth opportunities and create further shareholder value [6] Company Overview - IM Cannabis Corp. is a leading medical cannabis company operating in Israel and Germany, focusing on sustainable and profitable growth in these high-value markets [7] - The Company operates a transnational ecosystem that includes importing and distributing cannabis, retail pharmacies, online platforms, and logistical hubs in Israel, as well as distributing cannabis to pharmacies in Germany through Adjupharm GmbH [8]
IM Cannabis Regains Compliance with Nasdaq Stockholders' Equity Listing Requirement
Prnewswire· 2025-09-05 11:00
Core Points - IM Cannabis Corp. has regained compliance with Nasdaq Listing Rule 5550(b)(1), maintaining stockholders' equity of at least $2,500,000, allowing its common stock to continue trading on the Nasdaq Capital Market [1] Company Overview - IM Cannabis Corp. is an international cannabis company providing premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets [2] - The company operates a transnational ecosystem powered by a data-driven approach and a globally sourced product supply chain, focusing on responsible growth and regulatory compliance [2] Operations - In Israel, IM Cannabis operates through subsidiaries that import and distribute cannabis to medical patients, utilizing proprietary data and patient insights [3] - The company runs medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel to ensure safe delivery and quality control of its products [3] - In Germany, IM Cannabis operates through Adjupharm GmbH, distributing cannabis to pharmacies for medical cannabis patients [3]
Vireo Growth Inc. Comments on Recent Market Activity; Company Unaware of Any Material Change
GlobeNewswire News Room· 2025-09-04 13:22
Core Viewpoint - Vireo Growth Inc. has confirmed that management is unaware of any material changes in operations that would explain the recent increase in market activity, following a request from the Canadian Investment Regulatory Organization [1] Company Overview - Vireo Growth Inc. was founded in 2014 as a pioneer in the medical cannabis industry, focusing on building a disciplined and strategically aligned platform [3] - The company emphasizes a long-term mindset, a bias for action, and a commitment to its customers, employees, shareholders, industry collaborators, and local communities [3]
Tilray Medical Expands Presence in Germany with Introduction of New Good Supply Medical Cannabis Strains
Globenewswire· 2025-08-28 11:00
Core Insights - Tilray Medical is expanding its presence in Germany's medical cannabis market by introducing three new EU-GMP certified cannabis strains, enhancing patient and pharmacy access [1][2][3] Product Offerings - The new strains include Good Supply Cannabisblüten THC 22 IIM, THC 25 MMK, and THC 18 LLD, available in 15 g and 500 g sizes to cater to diverse needs [1][2] - Good Supply Cannabisblüten THC 22 IIM will be available from early September, THC 25 MMK from September 19, and THC 18 LLD by late September or early October [2] Market Positioning - Tilray Medical aims to be a trusted partner in medical cannabis, leveraging its robust international platform and distribution network to ensure consistent quality and reliable supply [2][3] - The company has established itself as a leading supplier of medical cannabis, with a portfolio that includes several recognized brands tailored for the German market [3][4] Company Background - Tilray Medical has evolved from being one of the first licensed producers of medical cannabis in Canada to building GMP-certified production facilities in Portugal and Germany [4] - The company is committed to providing safe and reliable access to a global portfolio of medical cannabis brands, including Good Supply, Broken Coast, Redecan, and Navcora [4] Strategic Goals - The introduction of new strains is part of Tilray's broader strategy to enhance healthcare standards and patient care globally [2] - The company emphasizes its dedication to transforming healthcare through informed health decisions and individualized patient care [1][2]
MediPharm Strengthens Global Position in Q2 2025, with 14% Revenue Growth and 50% Increase in International Medical Cannabis
GlobeNewswire News Room· 2025-08-14 11:30
Core Insights - MediPharm Labs Corp. reported strong year-over-year revenue growth of 14% in Q2 2025, reaching $11.8 million, driven by international market expansion and a solid balance sheet [2][4][8] - The company successfully defended a proxy contest, with shareholders voting three-to-one in favor of the board's strategic direction, indicating strong shareholder engagement [2][3] - International medical cannabis revenue grew by 50% year-over-year, now accounting for 57% of total revenue, highlighting the effectiveness of the company's international strategy [4][8] Financial Performance - Q2 2025 revenue was $11.8 million, an increase of $1.5 million compared to Q2 2024, with international medical cannabis revenue at $6.7 million [4][8] - Gross profit for the quarter was $3.3 million, representing 28% of revenue, with management focusing on margin improvement through product optimization [6][8] - Adjusted EBITDA for Q2 2025 was negative $0.6 million, a decline from the previous year, but year-to-date Adjusted EBITDA improved to negative $0.4 million from negative $1.1 million in the first half of 2024 [7][8] Market Strategy - The Canadian adult-use and wellness segment generated $1.6 million in Q2 2025, reflecting a 6% year-over-year increase and 19% sequential growth from Q1 2025, supported by product portfolio expansion [5][8] - The company plans to launch metered dose inhalers in international markets, including Australia and the UK, following the expansion of its inhaler line in Canada [5][8] Balance Sheet and Operational Efficiency - MediPharm ended Q2 2025 with a cash balance of $10.4 million, up from $8.4 million in Q1 2025, aided by the divestiture of a facility for $4.5 million [11][12] - The company remains virtually debt-free and owns two production facilities valued at over $15 million, providing operational flexibility [12]
IM Cannabis Reports Second Quarter 2025 Financial Results
Prnewswire· 2025-08-12 12:00
Core Insights - IM Cannabis Corp. reported strong profit and margin growth in Q2 2025 despite a revenue decline due to external challenges such as the ongoing war in Israel and supply chain delays [1][2][12] Financial Highlights - Revenue for Q2 2025 was CAD 12.7 million, a 14% decrease from CAD 14.8 million in Q2 2024, primarily due to a CAD 5.3 million decline in Israel, partially offset by CAD 3.3 million growth in Germany [12] - Gross profit increased by 306% to CAD 3.4 million compared to CAD 0.8 million in Q2 2024, with gross margin rising to 27% from 6% [11][12] - Non-IFRS Adjusted EBITDA showed a profit of CAD 0.1 million in Q2 2025, a 105% improvement from a loss of CAD 2.3 million in Q2 2024 [2][12] - Operating expenses remained stable with a slight increase of 2% to CAD 3.8 million compared to CAD 3.7 million in Q2 2024 [12] Management Commentary - The CEO highlighted the challenges posed by the war and supply chain issues but expressed optimism about the company's profitability and margin growth, indicating a strong long-term strategy [2] - The CFO emphasized disciplined cost management and operational efficiency as key factors in achieving margin expansion despite the revenue decline [2] Company Overview - IM Cannabis Corp. operates in the medical cannabis markets of Israel and Germany, leveraging a data-driven approach and a globally sourced product supply chain [8][9] - The company aims to amplify its commercial and brand power while adhering to strict regulatory environments [8]
Aurora to Participate in Canaccord Genuity 45th Annual Growth Conference
Prnewswire· 2025-08-07 11:00
To listen to the live audio webcast, please register using the weblink above, which has also been posted to the Company's "Investor Info" section at https://www.auroramj.com/investors/ under "Events". A replay of the presentation will be available using the same link for approximately 90 days. About Aurora Cannabis Inc. Canada's Largest Medical Cannabis Company to Discuss Strategy, Industry Trends, and Long-Term Growth Outlook EDMONTON, ALBERTA, Aug. 7, 2025 /PRNewswire/ - Aurora Cannabis Inc. (NASDAQ: ACB) ...
PharmaCielo Announces Issuance of Cease Trade Order
Newsfile· 2025-08-06 13:30
Core Viewpoint - PharmaCielo Ltd. has received a cease trade order from the Ontario Securities Commission due to delays in filing its audited annual consolidated financial statements for the year ended March 31, 2025 [1][2] Group 1: Cease Trade Order Details - The cease trade order prohibits any trading of the Company's securities in Canada, including common shares on the TSX Venture Exchange [1] - The delay in filing the required documents was not due to material accounting issues but rather significant resource demands related to a potential sale of non-core assets [2][3] Group 2: Company Response and Future Actions - The Company is actively working with its accounting staff and external auditors to complete the outstanding filings and expects to remedy the default shortly [4] - PharmaCielo plans to issue a public announcement once the transaction involving non-core assets is finalized and will release further updates once the required documents are filed and the cease trade order is lifted [3][4] Group 3: Company Overview - PharmaCielo Ltd. is a global company focused on ethical and sustainable processing and supplying of pharmaceutical-grade medical cannabis products [5] - The Company's principal subsidiary, PharmaCielo Colombia Holdings S.A.S., is located in Rionegro, Colombia, which is recognized for its ideal conditions for building a sustainable medical cannabis business [6]
Vireo Growth Inc. to Release Second Quarter 2025 Results on August 13, 2025
Globenewswire· 2025-08-05 12:00
Core Points - Vireo Growth Inc. will release its financial results for the second fiscal quarter ended June 30, 2025 on August 13, 2025 before market opens [1] - A conference call will be held on the same day at 8:30 a.m. ET to discuss the results, with dial-in options provided for interested parties [2] - A live audio webcast of the conference call will be available on the Company's Investor Relations website [3] Company Overview - Vireo Growth Inc. was founded in 2014 as a pioneer in the medical cannabis industry, focusing on building a disciplined and execution-oriented platform [4] - The Company emphasizes a long-term mindset, local engagement, and a commitment to its stakeholders, including customers, employees, shareholders, and communities [4]
IM Cannabis to Report Second Quarter 2025 Financial Results on Tuesday, August 12th at 9:00am ET
Prnewswire· 2025-08-04 11:00
TORONTO and GLIL YAM, Israel, Aug. 4, 2025 /PRNewswire/ -- IM Cannabis Corp. (NASDAQ: IMCC) (the "Company", "IMCannabis", or "IMC"), a leading medical cannabis company with operations in Israel and Germany, will report operational and financial results for the second quarter 2025 ended June 30, 2025, on Tuesday, August 12, 2025, before the market opens. About IM Cannabis Corp. The IMC ecosystem operates in Israel through its subsidiaries, which imports and distributes cannabis to medical patients, leveragin ...