TORONTO and GLIL YAM, Israel, April 11, 2025 /PRNewswire/ — IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the “Company“, “IM Cannabis“, or “IMC“), a leading medical cannabis company with operations in Israel and Germany, today announced the following corporate updates.

Nasdaq Notification Letter

The Company has received a written notification (the “Notification Letter“) from the Nasdaq Stock Market LLC (“Nasdaq“) dated April 9, 2025, notifying the Company that it is no longer in compliance with Nasdaq Listing Rule 5550(b)(1).

Nasdaq Listing Rule 5550(b)(1) (the “Listing Rule“) requires companies listed on the Nasdaq Capital Market to maintain a minimum of US$2.5 million in stockholders’ equity for continued listing. In the Company’s Form 20-F for the period ended December 31, 2024, dated March 31, 2025, the Company reported stockholders’ equity of US$ $2,184,722^[1]. As of April 8, 2025, Nasdaq has also determined that the Company does not meet the alternative requirements relating to market value of listed securities or net income from continuing operations and, therefore, no longer complies with the Listing Rule.

The Notification Letter has no immediate effect on the Company’s listing on the Nasdaq Capital Market at this time, subject to the Company’s compliance with other Nasdaq listing requirements. In accordance with Nasdaq Listing Rule 5810(c)(2)(A), the Company has been provided 45 calendar days, or until May 26, 2025, to submit a plan to regain compliance. If such compliance plan is accepted by Nasdaq, the Company may be granted an extension of up to 180 calendar days from the date of the Notification Letter to evidence compliance.

The Company’s business operations are not affected by the receipt of the Notification Letter. The Company is looking into various options available to regain compliance and maintain its continued listing on the Nasdaq Capital Market. The Company intends to submit the compliance plan as soon as practicable. Although the Company will use all reasonable efforts to achieve compliance, there can be no assurance that the Company will be able to regain compliance pursuant to the Notification letter, or that the Company will otherwise be in compliance with other Nasdaq listing criteria.

The Notification Letter has no immediate impact on the listing of the Company’s common shares, which will continue to be listed and traded on The Nasdaq Capital Market during this period, subject to the Company’s compliance with other listing standards.

Purchase of remaining 26% of Focus Medical Herbs Ltd.

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Through a series of transactions, the Company, through I.M.C. Holdings Ltd. (“IMC Holdings“), a wholly owned subsidiary of the Company, acquired a 74% interest in Focus Medical Herbs Ltd. (“Focus“). The Company intends to acquire from Ewave Group Ltd.’s (“Ewave“) the remaining 26% interest in Focus (the “Focus Transaction“). Ewave is a privately-held entity jointly owned by Messrs. Shuster and Gabay, related parties to the Company.

The Board commissioned an arm’s length independent third-party to prepare a report to determine the purchase price of the remaining 26% interest in Focus. They determined the purchase price to be NIS 818,740 (the “Focus Purchase Price“). The Company, IMC Holdings and Ewave have agreed that to preserve the Company’s cash, they intend to settle the Focus Purchase Price through the issuance of common shares in the capital of the Company (“Common Shares“) calculated on the basis of a deemed price per Common Share equal to the greater of: (x) the ten-day volume weighted average price of the Common Shares on the Canadian Securities Exchange (the “CSE“) ending on the date the Company receives disinterested shareholders’ approval to complete the Focus Transaction; and (y) the discounted market price pursuant to the policies of the CSE.

The Company plans to seek approval to complete the Focus Transaction from disinterested shareholders at its upcoming annual general and special meeting schedule for May 23, 2025 (the “Meeting“).

Background of the Focus Transaction

On February 3, 2010, Focus, a private company operating in the State of Israel, was incorporated to engage in the cultivation and production of medical cannabis in compliance with a license issued by the Israeli Medical Cannabis Agency (“IMCA“). These operations continued until June 2022 when Focus ceased its cultivation and production activities related to medical cannabis and transitioned exclusively to the importation activities.

Originally, Focus was owned by Messrs. Shuster and Gabay, who collectively held 74% of Focus’ share capital, and by Tal Tregerman, an agriculturist, who held the remaining 26%.

On November 29, 2017, Ewave and Mr. Tregerman entered into a loan agreement (the “Focus Loan Agreement“) pursuant to which Mr. Tregerman received a loan in the amount of NIS 525,000 from Ewave for a period of 12.5 years at an annual interest rate of 6%. Pursuant to the terms and conditions of the Focus Loan Agreement, Ewave was provided the option to acquire Mr. Tregerman 26% share interest in Focus in settlement of the outstanding loan amount.

On March 18, 2018, Messrs. Shuster and Gabay sold their combined holdings, representing 74% of Focus’ share capital, to IMC Holdings for a total consideration of NIS 2,960,000 at a price of per share of NIS 822.22.

Due to regulatory constraints, on April 2, 2019, an agreement was reached between IMC Holdings and Messrs. Shuster and Gabay, pursuant to which IMC Holdings sold its shares in Focus back to Messrs. Shuster and Gabay for a total consideration of NIS 2,756,000. Simultaneously, the parties signed an option agreement pursuant to which Messrs. Shuster and Gabay granted IMC Holdings the right to purchase (the “Focus Option“) 3,600 ordinary shares of Focus (each, a “Focus Share“), representing their combined 74% ownership interest in Focus, at a price of NIS 765.67 per Focus Share until April 2, 2029, subject to IMCA approval.

On November 30, 2023, IMC Holdings requested approval from IMCA to exercise the Focus Option and on February 26, 2024, IMCA approved IMC Holdings’ acquisition of the Focus Shares.

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On February 26, 2024, Ewave exercised its option under the Focus Loan Agreement to acquire Mr. Tregerman 26% share interest in Focus in settlement of the outstanding loan amount.

The Focus Transaction constitutes a “related party transaction”, as such term is defined in Multilateral Instrument 61-101 – Protection of Minority Shareholders in Special Transactions (“MI 61-101“), due to the involvement of Ewave, a privately-held entity jointly owned by Messrs. Shuster and Gabay, related parties to the Company, and as such requires the Company to receive minority Shareholder approval for, and obtain a formal valuation for the subject matter of, the transaction in accordance with MI 61-101, prior to the completion of such transaction, unless the Company is able to rely on exemptions from the formal valuation and minority Shareholder approval requirements of MI 61-101.

Notwithstanding the fact that the Focus Transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the subject matter of the transaction, nor the consideration payable under the transaction, exceeds 25% of the Company’s market capitalization insofar as it involves interested parties, the Board commissioned an arm’s length third-party to prepare a report to determine the Focus Purchase Price and the Company is seeking disinterested shareholders’ approval of the Focus Transaction at the upcoming Meeting as a means of good governance.

About IM Cannabis Corp.

IMC (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis company that provides premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets. The Company leverages a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain. With an unwavering commitment to responsible growth and compliance with the strictest regulatory environments, the Company strives to amplify its commercial and brand power to become a global high-quality cannabis player.

The IMC ecosystem operates in Israel through its subsidiaries, which 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 centers, and logistical hubs in Israel that enable the safe delivery and quality control of IMC products throughout the entire value chain. In Germany, the IMC ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements under applicable Canadian and United States securities laws (collectively, “forward-looking statements“). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements relating to compliance with Nasdaq’s continued listing requirements, and timing and effect thereof; statements relating to the Company’s intention to submit a compliance plan in response to the Notification Letter; the Company using all reasonable efforts to achieve compliance with Nasdaq’s continued listing requirements; the Company’s plan to seek approval to complete the Focus Transaction from disinterested shareholders at its upcoming Meeting; and the Company’s plan to complete the Focus Transaction.

Forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to: the Company’s ability to regain compliance with Nasdaq’s continued listing requirements, and timing and effect thereof; the Company’s ability to submit a compliance plan in response to the Notification Letter; the Company will be able to use all reasonable efforts to achieve compliance with Nasdaq’s continued listing requirements; the Company’s seeking approval to complete the Focus Transaction from disinterested shareholders at its upcoming Meeting; and the Company completing the Focus Transaction.

The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the Company’s inability to continue to meet the listing requirements of the CSE and the Nasdaq Capital Market; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and Focus (collectively, the “Group“) to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide sufficient quantities of medical cannabis to fulfil the Group’s obligations;the Group’s possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group’s cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt; risks surrounding war, conflict and civil unrest in Eastern Europe and the Middle East, including the impact of the Israel-Hamas war on the Company, its operations and the medical cannabis industry in Israel; risks associated with the Company focusing on the Israel and Germany markets; the Company’s inability to realize upon the stated efficiencies and synergies of the Company as a global organization with domestic expertise in Israel and Germany; the Company’s inability to realize upon its retail presence, distribution capabilities and data-driven insights; the Company not regaining compliance on the Nasdaq; the Company not submitting a compliance plan in response to the Notification Letter; the Company not using its best efforts to regain compliance with the Nasdaq listing rules; the Company not seeking approval to complete the Focus Transaction from disinterested shareholders at its upcoming Meeting; the Company not completing the Focus Transactions; and the risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual report on Form 20-F dated March 31, 2025, which is available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and Edgar at www.sec.gov/edgar. Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

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Company Contact:

Oren Shuster, CEO
IM Cannabis Corp.
+972-77-3603504
info@imcannabis.com

^[1] The Company reported stockholders’ equity of $3,146,000 in Canadian Dollars. On December 31, 2024, the indicative rate of exchange for the United States dollar in terms of Canadian dollars, as quoted by the Bank of Canada, was US$1.00 = C$1.44 and accordingly, the Company’s stockholders’ equity in US Dollars was $ $2,184,722.

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VICTORIA, Seychelles, April 11, 2025 /PRNewswire/ — MEXC has achieved a net inflow of $77.5 million over the past 7 days, positioning itself as one of the few major centralized exchanges (CEXs) to demonstrate positive momentum during a widespread market decline, according to DeFiLlama. The exchange’s total monthly net inflow reached $1.79 billion, a 12.4% rise from the previous month, highlighting its resilience and consistent growth amid cautious user behavior across the broader market.

DeFiLlama data also ranks MEXC among the top 3 exchanges for monthly inflows, with $84.25 million recorded in April alone and a total value locked (TVL) of $2.8 billion as of April 9, 2025. This performance reflects MEXC’s growing credibility and ability to attract liquidity despite ongoing market volatility.

Exchange	7-Day Net Inflow	30-Day Net Inflow
Binance	+$888 million	+$3.7 billion
Bybit	+$564.9 million Advertisement	+$3.2 billion
MEXC	+$77.5 million	+$1.79 billion
Kucoin	−$40 million	−$893.5 million
HTX	+$402.1 million	+$464.9 million Advertisement

Net Inflow Trends Across Major CEXs (Source: https://defillama.com/cexs) 

MEXC’s standout performance over the past month can be attributed to its strategic focus on trading initiatives and ecosystem development. The key drivers behind this success include the following:

1. Strategic Initiatives: Through its “Zero Trading Fee” campaign, MEXC significantly boosted trading volume and user engagement.
2. BNB Chain Ecosystem Focus: MEXC’s targeted approach to CZ/BNB-Chain concept tokens, coupled with high returns and trading volumes of popular tokens, further drove user fund inflows.
3. Capturing High-Potential Tokens: As the first platform to list CZ/BNB-Chain concept tokens like MUBARAK, MEXC created opportunities for low-cost entry and high returns, drawing significant user capital.
4. Launch of DEX+: The launch of DEX+, a hybrid centralized-decentralized trading platform, lowered the barriers to on-chain trading, enhancing MEXC’s appeal to users and boosting fund inflows.

1. Zero Trading Fee Strategy Significantly Boosts Trading Activity

During its March Zero Trading Fee campaign, MEXC introduced trading pairs such as SOL/USDT, HYPE/USDT, and S/USDT, resulting in a 17.8% month-over-month increase in the number of traders and a remarkable 170.2% surge in trading volume. Notably, SOL/USDT saw a 185.62% increase in trading volume, with its average daily trading volume accounting for 19.0% of MEXC’s total futures trading volume – a growth rate of 189.69%—making it the standout pair of the quarter. ADA/USDT recorded the highest growth, with a 369.44% increase in trading volume and a 393.05% rise in its share of MEXC’s daily futures trading volume. Additionally, DOGE/USDT and SUI/USDT saw trading volume increases of 82.87% and 70.84%, respectively.

0 Trading Fee strategy also significantly enhanced MEXC’s market share. Trading pairs such as AIXBT/USDT, DOGE/USDT, and SOL/USDT led market share growth with increases of 331%, 283%, and 209%, respectively. DOGE/USDT and SOL/USDT achieved market shares of 30.5% and 30.3%, respectively, ranking first among the same pairs on CoinMarketCap (CMC), while ADA/USDT secured the second spot with a 20.6% market share. These figures demonstrate that the 0 Trading Fee campaign effectively ignited user trading enthusiasm, driving substantial fund inflows to the platform.

2. Strategic Focus on BNB Chain Ecosystem Fuels Hot Token Trading

The BNB Chain ecosystem has emerged as a new hotspot for on-chain assets over the past month, and MEXC’s strategic focus on this ecosystem has paid off. In March, BNB Chain ecosystem tokens accounted for 50.8% of new token spot trading users, a 30.1% month-over-month increase, while their trading volume share soared to 56.6%, reflecting a 63.5% month-over-month growth. This made the BNB Chain ecosystem a core driver of March’s trading surge.

The top five BNB Chain ecosystem tokens delivered an average return of 3,760%, creating significant profit opportunities for users while fueling a trading frenzy. Star tokens like MUBARAK, BUBB, and TUT led the charge with gains of 10,900%, 4,168%, and 2,000%, respectively, contributing 17%, 4%, and 7% to new token trading volume. MUBARAKAH and BMT also performed strongly, contributing 4% and 3% to trading volume, respectively. The robust trading activity of BNB Chain ecosystem tokens further attracted user fund inflows, injecting fresh momentum into MEXC’s growth.

3. First-Mover Advantage in Token Launches Makes MEXC a Go-To Platform for Low-Cost Entry

MEXC demonstrated industry-leading prowess in launching CZ-concept tokens. On March 14, 2025, at 12:35:00 (UTC+8), MEXC became the first exchange to list MUBARAK, outpacing all other platforms. Within 24 hours of its launch, MUBARAK surged by 1,377.5%, reaching a peak price of $0.22—a staggering 10,900% increase from its listing price. By the close of March 18, MUBARAK’s average daily trading volume had grown by 197% compared to March 15–16, with the number of traders rising by 76% month-over-month, reflecting sustained user enthusiasm.

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4. DEX+ Launch Enhances User Experience and Fund Attraction Through Innovation

In March, MEXC introduced DEX+, a hybrid centralized-decentralized trading platform that allows users to engage in decentralized trading without leaving the MEXC app or website, providing access to a wide range of on-chain assets. Currently, DEX+ supports over 15,000 tokens across the Solana and BNB Chain ecosystems, covering a broad spectrum of on-chain assets. This innovative model not only enhances trading convenience but also strengthens MEXC’s appeal to on-chain trading users, further driving fund inflows.

Conclusion
With $1.79 billion in fund inflows over the past month and a 63.9% fund inflow efficiency, MEXC has demonstrated its competitive strength among global cryptocurrency exchanges. Whether through its 0 Trading Fee campaign to boost trading activity, its strategic focus on the BNB Chain ecosystem, its first-mover advantage in launching high-potential tokens, or the innovative launch of DEX+, MEXC has leveraged innovation to drive rapid fund inflows. Looking ahead, as the crypto market continues to evolve, MEXC is well-positioned to attract more global users and solidify its market standing by further enhancing user experience and expanding its market presence.

About MEXC
Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

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OSLO, Norway, April 11, 2025 /PRNewswire/ — Akastor ASA invites investors and analysts to a webcast presentation of the first quarter 2025 financial results on Wednesday, 30 April 2025.

Date and time:
Wednesday, 30 April 2025, at 15:00 CET

Presenters:

• Akastor: Karl Erik Kjelstad, CEO, and Øyvind Paaske, CFO 
• HMH: Thomas McGee, CFO, and David Bratton, SVP FP&A and Operational Finance

Link to webcast:
https://akercreativehub.eventcdn.net/events/akastor-audiocast-q1-2025

Questions can be submitted throughout the streaming event. The presentation material will be published on www.akastor.com and www.newsweb.no at 07:00 CET on 30 April.

For further information, please contact:
Øyvind Paaske
Chief Financial Officer
Mob: +47 917 59 705
E-mail: oyvind.paaske@akastor.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This information was brought to you by Cision http://news.cision.com.

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