IM Cannabis Announces Focus Medical’s Receipt of Israeli Ministry of Health Import Permit; Plans to Launch WAGNERS Brand in Israel
IM Cannabis’ popular recreational cannabis brand WAGNERS will be available in Israel in 2022, enhancing IM Cannabis’ presence in the market
TORONTO, ON and GLIL YAM, ISRAEL / ACCESSWIRE / November 29, 2021 / 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.
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.
Oren Shuster, CEO of IM Cannabis
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.
Shuster added, “This integrated, global cannabis supply chain also enhances shareholder value by distributing Canadian-grown cannabis in multiple markets and at high margins.”
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 “), where it also distributes cannabis to medical patients. In Canada, the Company operates through TJAC and MYM, where it cultivates and processes cannabis for the adult-use market at its Ontario and Nova Scotia facilities under the WAGNERS and Highland Grow brands.
About Focus Medical Herbs Ltd.
Focus Medical is one of eight original licensed producers of medical cannabis in Israel and has over 10 years of experience growing high quality medical cannabis in the Israeli market. Focus Medical is an “investee” of the Company under IFRS due to the Company’s “de facto control” over Focus Medical despite not having any direct or indirect ownership of it. Focus Medical has an exclusive commercial agreement with IMC to distribute its production under the IMC brand. In addition to its own capacity, Focus Medical has supply agreements with other cultivators for additional supply using its proprietary genetics and for sale under the IMC brand.
1 Focus Medical received import permit from the MOH for Flowr Group (Okanagan) Inc’s products on November 28, 2021.
2 Source: OCS Power BI.