IM Cannabis Corp. (IMCC) stock had a GOOD Friday, but why?

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IM Cannabis Corp. (IMCC) shares soared 6.54% in after-hours on Friday, July 2, 2021, and closed the weekly trading at $5.70 per share. Earlier, IMCC’s stock gained 5.31% to close Friday’s normal session at $5.35. IMCC shares have moved up by 5.52% in the past week. Over the past three months, the stock has lost 29.61%, while over the past six months, it has declined 27.70%.

Let’s see what’s going on recently with IMCC?

Participation in the recent conference

IM Cannabis Corp recently participated in the Cannabis Industry Virtual investor conference which held on Tuesday, June 29, 2021.

The presentations from the June 29th & 30th Cannabis industry virtual investor conference are now available for on-demand viewing at VirtualInvestorConferences.com.

Update about the proposed acquisition of MYM

On June 28, 2021, IM Cannabis Corp announced that Glass, Lewis & Coand Institutional Shareholder Services Inc have each issued positive recommendations of IMC’s proposed acquisition of MYM Nutraceuticals Inc.

The high effectiveness of seven IMC-branded medical cannabis strains proved

On June 17, 2021, IM Cannabis Corp released its proprietary data from a clinical survey evaluating medicinal cannabis therapy. The patient survey reported the high effectiveness of seven IMC-branded medical cannabis strains in treating and alleviating symptoms of seven key health conditions in a clinical group of Israeli participants. The survey data will be used to help patients and doctors in medical markets all over the world customize cannabis-based therapies to best treat their diagnoses.

Supply Agreement with Canadian LP the Flowr Corporation

On June 7, 2021, IM Cannabis Corp announced that Focus Medical Herbs Ltd. (“Focus Medical”) has signed a multi-year supply agreement with The Flowr Corporation.

Focus Medical will import Flowr’s ultra-premium cannabis strains into Israel according to a three-year supply agreement. This new partnership with Flowr strengthens and further contributes to IMC’s new indoor ultra-premium product category under the IMC brand.IM Cannabis Corp has an exclusive commercial agreement with Focus Medical in Israel.

First Closing of the Panaxia Acquisition

On June 1, 2021, IM Cannabis Corp provided an update about the acquisition of Panaxia.

On April 30, 2021, IMC Holdings Ltd which is the Company’s fully owned Israeli subsidiary, signed a definitive agreement with Panaxia Pharmaceutical Industries Israel Ltd. and Panaxia Logistics Ltd.

The company has now done the first closing and the second closing is expected to occur before July 30, 2021, or upon receipt of the Israeli Ministry of Health approval.

Conclusion

Though we do not have any recent development about IMCC as we know the cannabis industry is progressing very well and that’s the reason behind IMCC good performance before the long weekend. We can expect it to continue its positive performance after the long weekend as well.

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