IM Cannabis expects to export premium, indoor-grown Canadian cannabis in 2022 to the rapidly evolving German medical cannabis market
TORONTO, ON, GLIL YAM, ISRAEL and BAD OLDESLOE, GERMANY / ACCESSWIRE / December 7, 2021 / IM Cannabis Corp. (the “Company” or “IM Cannabis”) (CSE:IMCC, NASDAQ:IMCC), a global cannabis company with operations in Israel, Canada, and Germany is pleased to announce plans to launch its popular Canadian WAGNERS brand in the German medical cannabis market in 2022 and begin exports of premium, indoor-grown dried flower from IMC Canada’s cultivation facility in 2022, subject to regulatory approval. These plans are consistent with the Company’s vertically integrated, multi-country strategy and follow the Company’s recently announced launch of WAGNERS in Israel and the receipt of an import permit for Canadian cannabis products from the Israeli Ministry of Health.
To learn more about WAGNERS, please visit WAGNERS – Well Made Weed (wagnersweed.com)¹
With the rapid growth in demand for premium indoor-grown Canadian cannabis and an increasing number of German medical patients not relying on government re-imbursement, we are excited to launch our popular WAGNERS brand to medical patients in Germany.
Oren Shuster, CEO of IM Cannabis
We continue to lay our foundation in Germany, currently one of the largest medical cannabis markets in the world, which is expected to rapidly expand as Germany’s new elected government enact broad regulatory reform of cannabis use. Leveraging our global supply chain, IM Cannabis continues to focus on growing our business substantially in Germany in the near term and being well-positioned through brand recognition for eventual regulatory reform.
IM Cannabis’ Global Infrastructure for International Shipments
IM Cannabis operates in Germany through Adjupharm GmbH, the Company’s fully licensed EU-GMP subsidiary (“Adjupharm” or “IMC Germany”), which recently completed construction of a new, state-of-the-art logistics center that will allow the Company to execute all aspects of its supply chain including the repackaging of bulk cannabis. The Company expects that the logistics center will augment the Company’s distribution capabilities. Additionally, the Company’s operations in Germany are expected to serve as the center of a broader long-term European strategy. Since being acquired by IM Cannabis, Adjupharm has upgraded its production and storage capacities to meet the increase in medical cannabis volumes from new supply agreements. With the completion of the logistics center, IM Cannabis has now doubled its footprint in Germany to approximately 8,000 square feet, upgraded its production facilities with state-of-the-art technology, and increased its storage capacity to seven tons of cannabis. With the logistics center in operation, new sources of supply extending its portfolio to include premium products, some of them exclusive, and a wide network of distribution partners, the Company expects to fortify and grow its presence in the German market.
IM Cannabis operates in Canada through Trichome Financial Corp. (“Trichome”) and its subsidiaries Trichome JWC Acquisition Corp. (“TJAC”) and MYM Nutraceuticals Inc. (“MYM”, and together with Trichome and TJAC, “IMC Canada”). IMC Canada’s Manitou Facility in Kitchener, Ontario is a 115,000 square foot indoor cultivation facility located just one hour away from Toronto, that has achieved accreditation as Good Agricultural and Collection Practices (“GACP”) by virtue of its ICann G.A.P certification, and it serves as the Company’s global cultivation hub for export and further processing in Germany and Israel.
About IM Cannabis Corp.
IM Cannabis (NASDAQ: IMCC, CSE: IMCC) is a leading international cannabis company providing premium products to medical patients and adult-use recreational consumers. IM Cannabis is one of the very few companies with operations in Israel, Germany, and Canada, the three largest federally legal markets. The ecosystem created through its international operations leverages the Company’s unique data-driven perspective and product supply chain globally. With its commitment to responsible growth and financial prudence, and the ability to operate within the strictest regulatory environments, the Company has quickly become one of the leading cultivators and distributors of high-quality cannabis globally.
The IM Cannabis ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs, which cultivates, imports, and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centres and logistical hubs in Israel that enable the safe delivery and quality control of IM Cannabis products throughout the entire value chain. In Germany, the IM Cannabis ecosystem operates through Adjupharm GmbH (“Adjupharm” or “IMC Germany”), where it also distributes cannabis to pharmacies for medical patients. In Canada, IM Cannabis operates through Trichome Financial Corp. (“Trichome”) and its subsidiaries Trichome JWC Acquisition Corp (“TJAC”) and MYM Nutraceuticals Inc. (“MYM”, and together with Trichome and TJAC, “IMC Canada”), where it cultivates and processes cannabis for the adult-use market at its Ontario, Nova Scotia, and Quebec facilities under the WAGNERS and Highland Grow brands.
1 Canadian regulations permit only the export of cannabis for medical or scientific purposes. Exports to Germany will comply with the Canadian Cannabis Act.
Original press release