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IM Cannabis Faces NASDAQ Delisting for Second Time

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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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Latina woman alleges she was denied job with cannabis nonprofit because she’s not Black

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A Latina from Lawndale is suing an organization that bills itself as fighting for “cannabis justice” with a goal to “heal the legacy of racism in America,” alleging she was told she was not chosen for a position with the nonprofit in 2023 because she is not Black.

Briseida Lupercio Chavez’s Los Angeles Superior Court lawsuit against the Hood Incubator alleges racial discrimination, retaliation and wrongful failure to hire in violation of public policy. She seeks unspecified compensatory and punitive damages.

A Hood Incubator representative did not immediately reply to a request for comment on the suit brought Jan. 5.

According to the suit, the Hood Incubator’s website states its purpose is to fight for “cannabis justice” and to “heal the legacy of racism in America . . . for the health and prosperity” of everyone.

“However, despite its stated vision of being an anti-racist organization, its blatantly discriminatory hiring practices could not be more contradictory to its stated purpose,” the suit states.

Chavez interviewed for a position with the Hood Incubator via Zoom last July with two organization representatives, one of whom is a managing agent, the suit states. The two representatives remained on the Zoom call after the interview and spent 10 minutes talking about why they were  not interested in hiring Chavez because she is not Black, the suit states.

Both representatives mocked Chavez’s race and for saying she had biracial children, telling the plaintiff they found her comments “off- putting” and falsely implying that she only claims to care about Black people because she has Black kids and friends,” according to the suit.

One of the representatives told Chavez that because she is a Latina, she is used to the Latino community “pulling strings for each other,” the suit states.

Chavez was “embarrassed, ashamed, emotionally broken and in financial desperation” after learning that she was not hired allegedly due to her race, national origin and/or color,” the suit states.

Latina woman alleges she was denied job with cannabis nonprofit because she’s not Black

 



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Man allegedly killed roommate, went back to sleep and bought some cannabis before others implored him to call 911

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It is, of course, a law & crime story..

A Maryland man insisted that he shot his roommate in self-defense, but admitted he only called 911 after going back to sleep, buying some marijuana, and communicating with people who implored him to contact authorities, according to court documents obtained by Washington, D.C., NBC affiliate WRC and Fox affiliate WTTG.

Richard Bennaugh, 38, is charged with manslaughter, assault in the first degree, assault in the second degree, and possession of a firearm as someone convicted of a violent felony, show from Prince George’s County show.

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‘There’s only one way to find out’: Man allegedly killed roommate, went back to sleep and bought some weed before others implored him to call 911



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Illegal immigrant cannabis farmer, 30, is allowed to remain in Britain – because being sent back to Serbia would breach his human rights

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The Daily Mail get over excited once again…

A migrant who was jailed over a cannabis farm worth half a million pounds has been granted permission to stay in the UK after successfully arguing he could not be deported as he no longer spoke his native language.

Clirim Kukaj, 30, is ethnically Albanian but was born and brought up in Serbia until at the age of 13 he entered Britain illegally. Seven years later he was granted indefinite leave to remain.

Kukaj and his lawyers have now successfully appealed his deportation on the grounds that returning him to his native country would be a breach of his human rights because he cannot speak the language and can only converse in Albanian.

Immigrational tribunal judge Fiona Lindsley granted the appeal ‘on human rights grounds’, however, the decision has sparked renewed calls for human rights laws to be reconsidered.

A senior Conservative MP told the Telegraph: ‘This demonstrates why we need urgent reform of the asylum system and human rights laws to allow the rapid and effective deportation of dangerous criminals.’

More Blah here

https://www.dailymail.co.uk/news/article-12941079/Migrant-cannabis-farmer-allowed-remain-Britain-human-right-no-longer-speak-language.html



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