TORONTO and GLIL YAM, Israel – IM Cannabis Corp. (the “Company” or “IM Cannabis”) (CSE: IMCC, NASDAQ: IMCC), a leading medical and adult-use recreational cannabis company with operations in Israel, Canada, and Germany today announced the appointment of Rinat Efrima as the new Chief Executive Officer of IMC Holdings Ltd. (“IMC Holdings”), the Company’s wholly-owned Israeli subsidiary. Ms. Efrima will join the Company in the first quarter of 2022.
In addition, Yael Harrosh, previously the Company’s General Counsel, Business Director and Corporate Secretary, has been promoted to global Chief Legal and Operations Officer, effective immediately. Both Ms. Efrima and Ms. Harrosh will report to Oren Shuster, who remains the Chief Executive Officer and a Director of the Company.
Ms. Efrima comes to IMC Holdings at a time of significant growth. The Company, through IMC Holdings, has recently signed agreements to acquire leading Israeli retailers and distributors, including R.A. Yarok Pharm Ltd. (“Pharm Yarok”), Rosen High Way Ltd. (“Rosen High Way”), Revoly Trading and Marketing Ltd., dba Vironna Pharm (“Vironna”), Panaxia-to-the-Home online pharmacy and trading center with an IMC-GDP license from Panaxia Pharmaceutical Industries Israel Ltd. and Panaxia Logistics Ltd., part of the Panaxia Labs Israel, Ltd. group of companies (“Panaxia”) and recently announced an agreement with Oranim Plus Pharm Ltd., an Israeli company holding 99.5% of the rights in Oranim Pharm Partnership (“Oranim”).
Ms. Efrima was formerly the Managing Director Israel and Global Chief Marketing Officer at Caesarstone Ltd. and Business Sector Leader for Europe, Middle East and Africa at Kimberly-Clark Corporation. Ms. Efrima brings extensive experience in business leadership, innovation, brand building, strategy, and digital acceleration. At IMC Holdings, Ms. Efrima will lead the integration of the Israeli acquisitions and identify sources of growth to create further value for the Company’s shareholders and medical cannabis patients.
Promoted from within the Company, Ms. Harrosh, now the Chief Legal and Operating Officer, will oversee the Company’s legal, regulatory, and compliance aspects in a highly regulated sector. She will also be responsible for the day-to-day operational functions as well as annual operational planning, key projects in Canada, Germany, and Israel, and translating strategy into actionable goals.
Rinat Efrima commented: “I am delighted to join IMC Holdings as the new CEO. I’m humbled and honored to be part of such a talented, forward-looking, and dedicated global team. I look forward to leading our Israeli business into its next phase and achieving a new level of performance.”
Commenting on the appointments, Oren Shuster said: “Having recently closed new acquisitions, we now require a stronger, more focused leadership team in Israel. With Rinat’s vast experience, energy, and insight, we will successfully leverage and build on this momentum. I would also like to congratulate Yael on her new role. Yael has an outstanding reputation for success at IM Cannabis and in our industry. Her experience will empower us to deepen our footprint in our existing markets as well as expand into potential new ones.”
In addition to the abovementioned appointments, in December 2021, Trichome JWC Acquisition Corp (“TJAC”) Chief Executive Officer, Howard Steinberg, was appointed as the Chief Executive Officer of three of the Company’s Canadian subsidiaries: MYM Nutraceuticals Inc. (“MYM”), Highland Grow Inc. (“Highland”), and SublimeCulture Inc. (“Sublime”).
Mr. Steinberg, previously the Chief Financial Officer of Highland, was succeeded in that role by Karl Grywacheski, the current Chief Financial Officer of TJAC and MYM.
About IM Cannabis Corp.
IM Cannabis (NASDAQ: IMCC, CSE: IMCC) is a leading international cannabis company providing premium products to medical patients and adult-use recreational consumers. IM Cannabis is one of the very few companies with operations in Israel, Germany, and Canada, the three largest federally legal markets. The ecosystem created through its international operations leverages the Company’s unique data-driven perspective and product supply chain globally. With its commitment to responsible growth and financial prudence, and the ability to operate within the strictest regulatory environments, the Company has quickly become one of the leading cultivators and distributors of high-quality cannabis globally.
The IM Cannabis ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd. (“Focus Medical”), which cultivates, 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 centres and logistical hubs in Israel that enable the safe delivery and quality control of IM Cannabis products throughout the entire value chain. In Germany, the IM Cannabis ecosystem operates through Adjupharm GmbH (“Adjupharm”), where it also distributes cannabis to pharmacies to medical cannabis patients. In Canada, IM Cannabis operates through Trichome Financial Corp. (“Trichome”) and its subsidiaries TJAC and MYM, where it cultivates and processes cannabis for the adult-use market at its Ontario, Nova Scotia, and Quebec facilities under the WAGNERS and Highland Grow brands.
