IM Cannabis Has Decided Not To Make Remaining Installment Payments Installments By IMC Holdings Ltd., And As Such Will Transfer The 51% Shares Held By IMC Holdings Ltd Back To The Seller
Portfolio Pulse from Benzinga Newsdesk
IM Cannabis Corp. (IMCC) has announced it will not complete the remaining installment payments for the 51% shares held by IMC Holdings Ltd., opting instead to return the shares to the seller. This decision is part of IMC's strategic shift to focus on the German market, especially following the legalization of cannabis in Germany on April 1st. The company aims to allocate resources to markets with the highest growth potential, notably Germany and Israel.
April 16, 2024 | 12:10 pm
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IM Cannabis Corp. is refocusing its investment strategy towards the German market following cannabis legalization, returning 51% shares to the seller due to non-payment of installments.
The decision to not complete the installment payments and return the shares could be seen as a strategic move to conserve resources for expansion in more promising markets like Germany. This could maintain investor confidence in the company's strategic decisions, but the impact on the stock price is uncertain due to the mixed signals of financial management and strategic reallocation.
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