Panaxia sells Israeli cannabis pharmacy to focus on exports
Panaxia Israel is selling its pharmacy, one of Israel s largest for cannabis products, to IMC for NIS 20 million.
Six months have gone by since the pilot scheme for exports of cannabis from Israel began, and although exports have not yet received a final official stamp of approval, the activity which for a long time was a dream and a promise is becoming real. Several Israeli cannabis companies, among them InterCure, Univo, BOL Pharma, and Seach Medical Group have already sent consignments to Europe. Tikun Olam-Cannbit has just signed a large marketing agreement in the UK.
IM Cannabis Acquires Israel s Largest Retail and Online Pharmacy Business from Panaxia, Creating a Vertically Integrated Global Platform for the IMC Brand
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IM Cannabis Acquires Israel s Largest Retail and Online Pharmacy Business from Panaxia, Creating a Vertically Integrated Global Platform for the IMC Brand
ACCESSWIRE
With Israel
1 per Month), Panaxia s Online Platform to Support Patient Base Expansion
Acquisition Broadens IMC s Patient Offering in Israel, Facilitates Stronger Direct Patient Relationships and Enables the Company to Grow its IMC Brand Awareness
Offers Additional Opportunity to Generate Revenue and Margin on Third-Party Products and is Synergistic with IMC s Premium and Super-Premium Canadian Indoor Production Portfolio
Adds Key Storage, Distribution and Delivery Capabilities, Plus Established Call Center to Support Growth as Israeli Market Prepares for Potential Adult-Use Recreational Cannabis Legalization
IM Cannabis Corp.: IM Cannabis Acquires Israel s Largest Retail and Online Pharmacy Business from Panaxia, Creating a Vertically Integrated Global Platform for the IMC Brand
1 per Month), Panaxia s Online Platform to Support Patient Base Expansion
Acquisition Broadens IMC s Patient Offering in Israel, Facilitates Stronger Direct Patient Relationships and Enables the Company to Grow its IMC Brand Awareness
Offers Additional Opportunity to Generate Revenue and Margin on Third-Party Products and is Synergistic with IMC s Premium and Super-Premium Canadian Indoor Production Portfolio
Adds Key Storage, Distribution and Delivery Capabilities, Plus Established Call Center to Support Growth as Israeli Market Prepares for Potential Adult-Use Recreational Cannabis Legalization
IM Cannabis Corp.: IM Cannabis Reports Fiscal 2020 Results; Provides Preliminary Q1 Results and Q2 Outlook
1; FY 2020: revenues of $15.9 million and gross margin of 55%
1
.
Preliminary unaudited Q1 2021 revenues expected to be in the range of $8.5 - $9.0 million; gross margin expected to be in the range of 50% to 55%.
Q2 2021 revenues expected to be in the range of $17 million - $19 million from continued growth in Israel, resumption of product shipments and growth of revenue in Germany, and inclusion of Trichome operations in the Company s financial results
TORONTO, ON and GLIL YAM, ISRAEL / ACCESSWIRE / April 23, 2021 /
IM Cannabis Corp. (
Company ) (CSE:IMCC)(NASDAQ:IMCC), a multi-country operator (
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