June 28, 2019
Jamie Blundell, President & COO is pleased to provide the following update on IMC, one of CGOC’s private holdings:
IMC Holdings (“IMC”), one of CGOC’s private portfolio holdings recently provided an update to shareholders including information pertaining to: their strategic European medical cannabis supplier; their acquisition of a German medical cannabis distribution partner; their Joint Venture (‘JV”), with a Greek cultivation facility; and their Reverse Takeover Transaction to go public.
IMC is a leading supplier in the Israeli medical cannabis market, controlling approx. 10% of the market, serving over 5,000 patients and delivering over 4,000 prescriptions monthly, with an annual growth of 50%. The Company announced expansion plans to a new facility earlier this year which would allow IMC’s production capacity to exceed 100 tons per year. IMC has vertically integrated European operations with a Spanish supply partner, Greek JV cultivation facility and the ability to export its Israeli production.
Highlights of IMC:
- Excellent Leadership – Marc Lustig, Chairman & CEO of Cannaroyalty (Origin House), is Chairman of the Board; and Oren Shuster, CEO, has founded multiple successful companies and is a leading figure in the Israeli Medical cannabis industry
- Vertically Integrated to Service European Markets – One of only 18 German distributers and one of a few fully GMP certified producers, able to provide a supply-constrained German and broader European markets
- Go Public Transaction – As part of the going public process, the parties intend to raise $25M CAD through the offering of subscription receipts on a private placement basis exempt from applicable prospectus and registration requirements. Cormark Securities Inc., and a syndicate of investment banks, including Canaccord Genuity are acting as agents to the offering.
IMC invites shareholders, investors and interested parties to participate in a conference call, in which Oren Shuster, the CEO of IMC, together with Cormark Securities Inc., will present the latest updates and status and will answer investor questions.
The conference call will be held on July, 2, 2019 at 1:30 PM ET. For more information and dial in details to access the proposed conference call, please view the full IMC release by following this link.
Established in 2010, IMC is an agricultural company licensed and authorized by the Ministry of Health to produce and supply medical cannabis. The company provides medical cannabis to patients with a valid permit by the Ministry of Health to use medical cannabis. IMC began to supply medical cannabis as early as 2008, with the aim of alleviating the pain and suffering of its patients. IMC produces high-quality strains, the best in the market today, and adheres to international standards of quality.
For more information visit http://en.imcagro.co.il/
|E-UPDATES – Sign up here to be included in our email blasts and receive timely updates
For further information please contact Cannabis Growth Opportunity Corporation: