IM Cannabis Corp. (NASDAQ: IMCC) Announces Reverse Stock Split to Meet Nasdaq Listing Requirements

• IM Cannabis Corp. (NASDAQ: IMCC), a medical cannabis company, operates in Israel and Germany, providing cannabis-based products to patients.
• The company is scheduled to execute a 1-for-30 reverse stock split on August 27, 2026, to consolidate outstanding shares.
• This strategic move aims to help IM Cannabis Corp. meet the Nasdaq Capital Market's minimum bid price requirement, as its current stock price is below the $1.00 threshold.

IM Cannabis Corp. (NASDAQ: IMCC) is a leading medical cannabis company with operations in Israel and Germany. The company focuses on providing cannabis-based products to patients in these markets. It navigates the complex regulatory landscapes of both countries to grow, produce, and distribute its medical cannabis offerings.

IM Cannabis Corp. has an upcoming 1-for-30 reverse stock split scheduled for August 27, 2026. On this date, shareholders will receive one new share for every thirty shares they currently hold. This action consolidates the number of outstanding shares without changing the total value of an investor's holdings.

As highlighted by PR Newswire, this decision aims to help IM Cannabis Corp. meet the Nasdaq Capital Market's minimum bid price requirement. Stock exchanges often require a company's share price to stay above a certain level, typically $1.00, to remain listed on the exchange.

The company's stock is currently priced at $0.11, which is below the exchange's minimum threshold. By reducing the number of shares, a reverse stock split typically increases the price per share. The stock has traded between a low of $0.11 and a high of $0.12 during the day.

IM Cannabis Corp. has a market capitalization of approximately $345.57 thousand. Market capitalization is the total market value of a company's outstanding shares. Over the past 52 weeks, the stock has seen a low of $0.09 and a high of $2.61, with a daily trading volume of over 712 thousand shares.