IM Cannabis Shares Commence Trading on 30:1 Consolidated Basis

IM Cannabis Corp. (IMCC ) announced on August 27, 2026, that its common shares commenced trading that day on the Nasdaq Capital Market on a 30:1 post-consolidated basis, completing a share consolidation the company’s board approved earlier in the month.

The medical cannabis company, which is headquartered in Toronto and Glil Yam, Israel, and operates in Israel and Germany, said its existing trading symbol, IMCC, remains unchanged. The shares carry a new CUSIP number, 44969Q505, and a new ISIN, CA44969Q5059.

According to the company’s announcement, the consolidation reduced the issued and outstanding common shares, which have no par value, from 18,567,650 to 618,899, subject to rounding for fractional shares. No fractional common shares were issued in connection with the consolidation. Instead, all fractional shares equal to or greater than one-half resulting from the consolidation were rounded up to the next whole number, while fractional shares representing less than one-half of a common share were cancelled.

The exercise price and/or conversion price and the number of common shares issuable under any of the company’s outstanding convertible securities were proportionately adjusted in connection with the consolidation, the company said.

Shareholder Exchange Process

Computershare Investor Services Inc., the company’s registrar and transfer agent for the common shares, has mailed letters of transmittal to registered shareholders of record as of August 27, 2026. The letters provide instructions for exchanging share certificates or direct registration system statements representing pre-consolidation common shares for certificates or statements representing post-consolidation common shares.

Registered shareholders may also obtain a copy of the letter of transmittal through the company’s SEDAR+ profile at www.sedarplus.ca. Until a certificate or statement is surrendered, each share certificate or direct registration system statement representing pre-consolidation common shares will represent the number of whole post-consolidation common shares to which the holder is entitled as a result of the consolidation.

No action is required by beneficial holders to receive post-consolidation common shares, the company said. Beneficial holders who hold their common shares through intermediaries, such as a broker, bank, trust company, investment dealer or other financial institution, and who have questions regarding how the consolidation will be processed should contact their intermediaries.

Path to the Consolidation

The company first announced the planned consolidation on August 18, 2026, when it said its board of directors had approved consolidating the issued and outstanding common shares on the basis of one post-consolidated common share for every thirty pre-consolidated common shares. The board authorized the consolidation to be effected on or before September 15, 2026, and the company said at the time that it expected August 27, 2026, to be the effective date.

The August 18 announcement stated that the primary purpose of the consolidation is to increase the per-share trading price of the common shares in an effort to support the company’s efforts to regain compliance with Nasdaq’s US$1.00 minimum bid price requirement for continued listing. Under applicable Nasdaq rules, the company has until October 6, 2026, to regain compliance. The company can regain compliance if, during the applicable 180-day compliance period, the closing bid price of its common shares is at least US$1.00 per share for a minimum of ten consecutive business days, in which case Nasdaq would provide written confirmation of compliance.

At the time of the August 18 announcement, the company expected the consolidation to reduce its issued and outstanding common shares from 18,117,650 to approximately 603,922, subject to rounding for fractional shares. The final figures reported on August 27 reflect the counts in effect when the consolidation took effect.

The company cautioned in its August 18 announcement that there can be no assurance that the consolidation will result in it regaining compliance with Nasdaq’s continued listing requirements or that it will otherwise maintain the listing of its common shares on Nasdaq.

IM Cannabis describes itself as an international company focused on building and scaling innovative businesses and technologies across global markets. The company currently operates a medical cannabis platform serving patients in Israel and Germany while evaluating opportunities to expand into additional technology-driven sectors.

In Israel, the company’s ecosystem operates through subsidiaries that import and distribute cannabis to medical patients, and it also operates medical cannabis retail pharmacies and online platforms that enable delivery and quality control of its products through the value chain. In Germany, the company operates through Adjupharm GmbH, which distributes cannabis to pharmacies for medical cannabis patients.