IM Cannabis Corp. IMCC IMCC announced on Monday that it has received approval from the Israeli Ministry of Health to import premium, indoor-grown medical cannabis from Trichome JWC Acquisition Corp., its wholly-owned Canadian licensed producer that cultivates and sells the popular WAGNERS brand in the Canadian recreational market.
The company said the permit allows Focus Medical to import an initial shipment of premium medical cannabis in a quantity according to its terms.
“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,” Oren Shuster, CEO of IM Cannabis said. “This launch underscores the importance of IM Cannabis’ vertically integrated, multi-country strategy.”
The initial shipment is expected in the coming weeks and is subject to TJAC’s receipt of an export permit from Health Canada.
In addition, Focus Medical expects to import roughly 1,200 kilograms of premium cannabis from TJAC over the course of next year, as well as strains from other licensed producers such as the Flowr Group Inc.
Focus Medical will then sell the imported medical cannabis from IMC Canada’s TJAC facility to Israeli medical cannabis patients under the WAGNERS brand, the company’s popular Canadian recreational cannabis brand.
“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.
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IM Cannabis’ shares traded 1.6348% lower at $4.0133 per share at the time of writing on Tuesday morning.
Photo: Courtesy of IM Cannabis Corp.
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