TORONTO and GLIL YAM, Israel, Jan. 2, 2024 /PRNewswire/ — IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the “Company” or “IMC“), a leading medical cannabis company with operations in Israel and Germany, is announcing that the construction proceedings against Focus Medical Herbs Ltd. (“Focus Medical“), were concluded on December 28, 2023. The company maintains “de facto” control of Focus Medical. Focus Medical was indicted and a fine of CAD$129,000 has been imposed. The cultivation facility, which was the focus of the proceedings, was closed in June 2022 in alignment with the company’s strategic shift towards import and sales.
“The Company continues to operate as usual. The importation and sale of our premium brands remain unaffected. Under the circumstances this is the best outcome we could have obtained, and we can look at this as an achievement,” said Oren Shuster, Chief Executive Officer of IMC.
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