breaking news

IM Cannabis Faces NASDAQ Delisting for Second Time

Published

2 years ago

August 13, 2023

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Business of Cannabis writes

International medical cannabis operator IM Cannabis has now received its second warning from NASDAQ regarding its share price, months after pushing through a share price consolidation to remain on the exchange.

Last week IM Cannabis, which now operates in Israel and Germany, received a written warning from the exchange that it ‘is not in compliance with the minimum bid brice requirements’.

It comes as IM Cannabis’ stock price fell below $1 in June and remained below the minimum threshold for over 30 days.

In order to prevent being delisted, it has until January 31, 2023 to bring its share price back above $1 for ten consecutive days.

Business of Cannabis reported last July that IM Cannabis had received its first minimum bid price warning from NASDAQ, with the company forced to resort to a 1:10 reverse stock split in November force its share price back above the threshold.

Like its NASDAQ stablemate Akanda, which also resorted to a reverse stock split to artificially boost its share price and remain listed, its value has continued to decline ever since, leaving both companies facing the prospect of delisting a second time.

Unlike Akanda however, IM Cannabis may benefit from positive investor sentiment towards Israeli cannabis operators over the past week, which has seen a number of local operators’ share prices spike (as reported below).

At the time of writing, IM Cannabis’ share price is sitting just below $1, falling from a high of $1.03 last week.

Aside from external regulatory changes driving up Israeli cannabis stock prices, IM Cannabis is also engaged in an ongoing cost cutting drive which has already seen it pull out of Canada, and may yet help encourage more positive sentiment from investors.

Source:

https://businessofcannabis.com/im-cannabis-faces-nasdaq-delisting-for-second-time-despite-stock-consolidation-israeli-stocks-spike-on-reform/

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breaking news

REGISTER YOUR INTEREST: International Cannabis Symposium – Sandton Convention Centre, Johannesburg, South Africa May 30 – June 1, 2025

Published

2 weeks ago

March 23, 2025

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International Cannabis Symposium

Sandton Convention Centre

Johannesburg, South Africa

May 30 – June 1, 2025

REGISTER

The International Cannabis Symposium: Law, Trade, and Standards is a premier, invite-only event designed for cannabis trade delegations, policymakers, legal experts, and key industry stakeholders. This inaugural symposium will be held on May 30, 2025, at the Sandton Convention Centre, Johannesburg, coinciding with the South African Cannabis Expo (May 30 – June 1, 2025).

This exclusive gathering will bring together global leaders in cannabis and hemp regulation, commerce, and compliance to discuss the latest legal frameworks, international trade opportunities, and industry standards.

REGISTER

Welcome and Morning Keynote

Africa’s Green Revolution: The State of Cannabis & Hemp

From Africa to the World: Expanding African Cannabis Markets

Afternoon Keynote with Steve D’Angelo

Cross-Border Cannabis: Navigating Global Trade Agreements

Cannabis Without Borders: The Globalization of Cannabis Law

Raising the Bar: Global Standards in Cannabis & Hemp Compliance

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breaking news

Canada: Metrc kicks off “pilot” program

Published

3 weeks ago

March 15, 2025

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Nobody left in the US.. now it’s time for Canada

The Edmonton jnl

A pilot project in Alberta is aiming to transform cannabis product transparency with Metrc’s Retail ID system. By simply scanning a QR code provided at purchase, consumers gain access to lab test results, certificates of analysis (COA), product name, image, cannabinoid, and terpenes, ensuring greater trust in legal cannabis products.

“For the pilot, it’s limited to just one product which is manufactured by Token Naturals and distributed by Plantlife Cannabis. So when consumers scan the QR code, they’ll be taken to a landing page that provides supplemental information on the product,” he said.

The initiative, supported by Alberta Gaming, Liquor and Cannabis (AGLC), Token Naturals, and Plantlife Cannabis, serves as “a proof of concept,” Urbanowicz said.

“We’re in discussions with Token Naturals, Plantlife Cannabis, and AGLC. Our goal is, once we demonstrate the proof of concept, that we’ll be able to expand to additional products, potentially to additional businesses as well,” he said.

Metrc, which has experience deploying the system in the U.S., ensures data accuracy through a structured compliance approach, though noted there’s not the same source of record system in Canada as in the U.S. As part of the pilot, Token Naturals, the local manufacturer located in Edmonton, tests results into their system and generates a QR code. The QR codes and products are then shipped to AGLC’s distribution center, which supplies retailer Plantlife Cannabis. Plantlife then distributes the QR code stickers and business cards to consumers.

https://edmontonjournal.com/business/albertas-new-qr-code-system-enhances-cannabis-transparency-a-first-for-canada?utm_medium=email&_hsmi=105979819&utm_content=105979819&utm_source=hs_email

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Asia Pacific & Australia

It All Turned A Bit Bogan At Aussie Medical Cannabis Symposium

Published

4 weeks ago

March 7, 2025

admin

Thanks to Hemp Gazette for spotting this – I have to admit I missed it and unsurprisingly nobody made me aware of it The Linked in Post from the organisers Some Comments

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