IM Cannabis CFO Itay Vago to Retire

IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC), a leading international medical cannabis company with operations in Israel and Germany, today announced that Itay Vago, the Company’s Chief Financial Officer, has decided to leave the Company for personal reasons. Current plans call for Mr. Vago to continue to serve as CFO until the publication of the Q3 2023 results.

Oren Shuster, Chief Executive Officer of IMC, said, “On behalf of our entire team, I would like to thank Itay for his commitment and contribution to IMC. Since joining IMC a year ago, Itay has been a valuable member of our management team and we wish him well in his future endeavors.”

“It has been a great pleasure to serve first as Finance Director of IMC Holdings Ltd and then as the Company’s Chief Financial Officer over the past year,” said Itay Vago. “I have the highest confidence in the Company, and I am grateful to have had the opportunity to work with one of the most dedicated teams in the cannabis industry.”

The Company has commenced a formal search for a new Chief Financial Officer and Mr. Vago is anticipated to support the transition through the publication of the Q3 2023 results.

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 has recently exited operations in Canada to pivot its focus and resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany. 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 commercial relationship with Focus Medical Herbs Ltd., 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. Until recently, the Company also actively operated in Canada through Trichome Financial Corp and its wholly owned subsidiaries, where it cultivated, processed, packaged, and sold premium and ultra-premium cannabis at its own facilities under the WAGNERS and Highland Grow brands for the adult-use market in Canada. The Company has exited operations in Canada and considers these operations discontinued.