Focus Medical has successfully imported approximately 200kg of medical cannabis from Spain into Israel
The medical cannabis was supplied by Linneo Health, the Company’s strategic supply partner in Spain and an EU-GMP global supplier of medicinal cannabis
Six suppliers now cultivating medical cannabis to Focus Medical for sale under the IMC brand in Israel
* Currency is in CAD$ unless specified otherwise
TORONTO and GLIL YAM, Israel, May 26, 2020 /CNW/ – IM Cannabis Corp. (the “Company” or “IMC”) (CSE:IMCC), one of the world’s pioneering medical cannabis companies with operations in Israel and across Europe, is pleased to announce that Focus Medical Herbs Ltd. (“Focus Medical’) has successfully received its first shipment of medical cannabis from Linneo Health (“Linneo”), an EU-GMP global supplier of medical cannabis based in Spain. The strategic supply agreement between The Company and Linneo allows for the supply of medicinal cannabis products to both Europe and Israel. This first shipment of approximately 200kg of medical cannabis will be sold by Focus Medical under brands proprietary to IMC in Israel starting in June 2020.
Combined with Focus Medical’s existing cultivation capacity, and the four previously announced supply agreements signed by Focus Medical in Israel, the imported cannabis will help fulfill the 33,075kg of IMC-branded medical cannabis to be distributed under binding sale agreements to Israeli pharmacies by Focus Medical over the next three years.
Oren Shuster, Chief Executive Officer of IMC commented, “Our vision is for IMC to become one of the world’s leading medical cannabis brands and for this we require both strong domestic and international partners. These partners are critical to ensure consistent and high-quality supply of medical cannabis synonymous with the IMC brand. The successful import of medical cannabis by Focus Medical into Israel is a very significant milestone for IMC as it demonstrates that an international supply chain can be developed to satisfy growing demand for IMC-branded medical cannabis in Israel. This announcement is also indicative of further execution on our domestic strategy along side our international growth strategy. We firmly believe that we have the recipe for success and that shareholders will be rewarded through long-term value creation.”
Details of Sales and Supply AgreementsIMC has previously announced that Focus Medical has signed six binding sales agreements for the distribution of IMC-branded medical cannabis products in Israel. Total consolidated revenue from all binding sales agreements in Israel is expected to be $193.5 million with an expected gross margin of 50% over the next three years. A total of 33,075kg of medical cannabis is expected to be delivered by Focus Medical to Israeli pharmacies between Q2 2020 and 2023, of which 3,000kg of the medical cannabis is expected to reach pharmacies in 2020.
The supply of medical cannabis to fulfill these pharmacy sales agreements is now fully contracted. Focus Medical has signed and announced supply agreements with Cannomed Medical Cannabis Industries Ltd. (TASE:CNMD), Intelicanna Ltd. (TASE:INTL), Way of Life and Cannation to augment Focus Medical’s own cultivation capacity and international supply from Linneo.
About IM Cannabis Corp.IMC is an international medical cannabis company, and a well-known Israeli brand of medical cannabis products. In Europe, IMC has established a medical cannabis operation first with its distribution subsidiary in Germany and augmented by strategic agreements with certified EU-GMP Standard suppliers, making it one of the only medical cannabis companies with fully integrated operations in Europe. IMC intends to leverage its operational experience and brand to establish a foothold in emerging medical cannabis markets including Germany, Portugal and Greece. IMC’s core Israeli business includes offering branding, know-how and other intellectual property-related services to the Israeli medical cannabis market. Its key assets in Israel include commercial agreements with licensed producers and an option to purchase licensed entities. IMC has developed proprietary processes in its operations and is active in developing and investing in innovative technology for global medical cannabis consumers leveraging its reputation and expertise in the medical cannabis sector.
About Linneo Health S.L.Linneo Health, based in Spain, is an EU-GMP certified global supplier of medicinal cannabis for the pharmaceutical industry, with significant production capacities for flower, extracted products and APIs. Vertically integrated from seed to sale, and backed up by its 50 years of experience on both the agricultural and industrial production, Linneo Health brings to the market – through its partners – top quality cannabis products ensuring access to the product for the patients who need it. Its production capacity, together with its focus on quality and innovation, make Linneo Health the partner of choice for the medical cannabis industry.
Financial OutlookThe Company and its management believe that the estimated revenues and gross margins contained in this press release are reasonable as of the date hereof and are based on management’s current views, strategies, expectations, assumptions and forecasts, and have been calculated using accounting policies that are generally consistent with the Company’s current accounting policies. These estimates are considered financial outlooks under applicable securities laws. These estimates and any other financial outlooks or future-oriented financial information included herein have been approved by management of the Company as of the date hereof. Such financial outlooks or future-oriented financial information are provided for the purposes of presenting information about management’s current expectations and goals relating to previously announced sales agreements and the future business of the Company. The Company disclaims any intention or obligation to update or revise any future-oriented financial information, whether as a result of new information, future events or otherwise, except as required by securities laws. Readers are cautioned that actual results may vary materially as a result of a number of risks, uncertainties, and other factors, many of which are beyond the Company’s control. See “Disclaimer for Forward Looking Statements” below.
Disclaimer for Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of applicable Canadian securities laws. 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. The forward-looking statements in this press release include, without limiting the foregoing, statements relating to the Company’s projected revenues and profitability due to previously announced sales agreements of Focus Medical, the expected amount of medical cannabis to be delivered by Focus Medical under its previously announced sales agreements, timing on the sale and distribution of IMC-branded medical cannabis products to Israeli pharmacies under the sales agreements, the ability of Focus Medical to meet its sales commitments and the Company’s strategic plans. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements, including, without limitation: the ability of the Company to comply with applicable government regulations in a highly regulated industry; unexpected changes in governmental policies and regulations affecting the production, distribution, manufacture or use of medical cannabis in Israel, Germany, Portugal, Greece or any other foreign jurisdictions in which the Company intends to operate; the ability of Focus Medical to deliver on its sales commitments; the risk that regulatory authorities in Israel may view the Company as the deemed owner of more than 5% of Focus Medical in contravention to Israeli rules restricting the ownership of Israeli cannabis cultivators and thereby jeopardizing Focus Medical’s cannabis cultivation license; unexpected disruptions to the operations and businesses of the Company and/or Focus Medical as a result of the COVID-19 global pandemic or other disease outbreaks including in the event that Focus Medical were to lose its designation as an essential service in the State of Israel during the current COVID-19 outbreak; any unexpected failure of Focus Medical to renew its cultivation license with the Israeli Ministry of Health; reliance on management; inconsistent public opinion and perception regarding the use of cannabis; engaging in activities considered illegal under US federal law; political instability and conflict in the Middle East; adverse market conditions; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; crop failures; litigation; currency fluctuations; competition; and loss of key management and/or employees. 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.
SOURCE IM Cannabis Corp.
For further information: Oren Shuster, Chief Executive Officer, +972-77-3603504, [email protected]; Marc Charbin, Investor Relations, +1 416-467-5229, [email protected]; Gal Wilder, Media Relations, +1 647-259-3261, [email protected]
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
医用大麻由 Linneo Health 提供， Linneo Health 是该公司在西班牙的战略供应合作伙伴，也是欧盟 GMP 全球医用大麻供应商
六家供应商目前在以色列培育医用大麻，以专注于以 IMC 品牌销售
TOROTO 和 GLIL YAM ，以色列，2020年5月26日/ CNW /- IM Cannabis Corp .（“公司”或“ IMC ”）（ CSE ： IMCC ），世界领先的医用大麻公司之一，在以色列和欧洲各地开展业务。高兴地宣布， Focus Medical Herbs Ltd .(" Focus Medical ")已成功收到总部位于西班牙的欧盟 GMP 全球医用大麻供应商 Linneo Health (" Linneo ")的首批医用大麻。本公司与 Linneo 签订的战略供应协议允许向欧洲和以色列供应药用大麻产品。这首批约200公斤医用大麻将由分众医疗自2020年6月起以自主品牌在以色列 IMC 销售。
结合分众医疗现有的养殖能力，以及分众医疗此前在以色列签署的4份供货协议，进口大麻将有助于完成分众医疗未来三年根据约束性销售协议向以色列药店配送的33,075公斤 IMC 品牌医用大麻生。
IMC 首席执行官欧伦•舒斯特( Oren Shuster )表示：“我们的愿景是， IMC 将成为全球领先的医用大麻品牌之一，为此，我们需要强大的国内和国际合作伙伴。这些合作伙伴对于确保一致和高质量的医用大麻供应是 IMC 品牌的关键。Focus Medical 成功地将医用大麻进口到以色列，对 IMC 而言是一个非常重要的里程碑，因为它表明可以发展国际供应链，以满足以色列对 IMC 品牌医用大麻日益增长的需求。这一公告也表明，我们的国内战略在国际增长战略方面的进一步执行。我们坚信，我们有成功的秘诀，股东将通过长期的价值创造获得回报。”
销售及供应协议详情 IMC 此前已宣布，分众医疗已签署六项约束性销售协议，以分销 IMC 品牌的医用大麻产品于以色列。以色列所有约束性销售协议的综合收入总额预计为1.935亿美元，未来三年的预期毛利率为50%。分众医疗预计在2020年第2季度至2023年期间向以色列药店交付的医用大麻共计33,075公斤，其中3,000公斤医用大麻预计在2020年到达药店。
为履行这些药店销售协议而供应的医用大麻现已全部签约。分众医疗已与 Cannomed Medical Cannabis Industries Ltd .( TASE : CNMD )、 Intlicanna Ltd .( TASE : INTL )、 Living Way and Cannation 签订并宣布供应协议，以增强分众医疗自身的种植能力和 Linneo 的国际供应。
关于 IM Cannabis Corp . IMC 是一家国际医用大麻公司，也是以色列著名的医用大麻产品品牌。在欧洲， IMC 首先与其在德国的分销子公司建立了医用大麻业务，并与经认证的欧盟 GMP 标准供应商签订了战略协议，使其成为欧洲唯一完全一体化运营的医用大麻公司之一。IMC 打算利用其运营经验和品牌，在德国、葡萄牙和希腊等新兴医用大麻市场建立立足点。IMC 的核心以色列业务包括向以色列医用大麻市场提供品牌、专有技术和其他知识产权相关服务。其在以色列的主要资产包括与特许生产商的商业合作协议和购买特许实体的选择权。IMC 在其运营中开发了专有流程，并积极开发和投资全球医用大麻消费者的创新技术，利用其在医用大麻领域的声誉和专业知识。
关于 Linneo Health S.L.Linneo Health ，总部位于西班牙，是欧盟 GMP 认证的制药行业药用大麻全球供应商，具有显著的花卉、提取产品和原料药生产能力。Linneo Health 从种子到销售的纵向一体化，在其50年的农业和工业生产经验的支持下，通过其合作伙伴，为市场带来了最优质的大麻产品，确保有需要的患者能够获得该产品。其生产能力，以及对质量和创新的重视，使林诺健康成为医用大麻行业的首选合作伙伴。
前瞻性陈述免责声明本新闻稿包含适用加拿大证券法含义内的前瞻性陈述。前瞻性陈述通常（但并非总是）通过使用“寻求”、“预期”、“相信”、“计划”、“估计”、“预期”、“可能”和“意图”等词语以及事件或结果“可能”、“将”、“应该”、“可能”或“可能”发生或实现的陈述和其他类似表述来识别。本新闻稿中的前瞻性声明包括但不限于前述声明，与公司因此前公布的分众医疗销售协议而产生的预期收入和盈利能力、分众医疗根据其先前公布的销售协议预计交付的医用大麻数量有关的声明。根据销售协议向以色列药店销售和分销 IMC 品牌医用大麻产品的时机、分众医疗履行销售承诺的能力以及本公司的战略计划。前瞻性陈述受业务及经济风险及不明朗因素及其他因素影响，可能导致实际经营业绩与前瞻性陈述所载的经营业绩有重大差异，包括但不限于：公司有能力遵守高度监管行业的适用政府法规；政府政策和法规发生意外变化，影响以色列、德国、葡萄牙医用大麻的生产、分销、制造或使用；希腊或本公司拟经营的任何其他外国司法管辖区； Focus Medical 履行其销售承诺的能力；以色列监管机构可能认为本公司拥有 Focus Medical 5%以上股份的风险违反以色列限制以色列大麻品种所有权的规则，从而危及 Focus Medical 的大麻种植许可证；本公司和/或 Focus Medical 因 COVID-19全球大流行或其他疾病爆发（包括在 Focus Medical 在当前 COVID-19被视为以色列一项基本服务的情况下）经营和业务的意外中断；在当前 COVID-19爆发期间，以色列政府认为不稳定的大麻种植和潜在的非法成本；以及重新考虑到美国的非法种植和非法种植的潜在的不稳定和/或不稳定的潜在的损失；以及除适用的证券法要求外，本公司不承担任何更新前瞻性陈述的义务。投资者不应过分依赖前瞻性陈述。
SOURCE IM Cannabis 公司。
更多信息：首席执行官 Oren Shuster ，+972-77-3603504,[电子邮件受保护]； Marc Charbin , Investor Relations ,+1416-467-5229,[电子邮件受保护]； Gal Wilder , Media Relations ,+1647-259-3261,[电子邮件受保护]
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