IM Regains Compliance with Nasdaq Minimum Bid Price Requirement

VANCOUVER and GLIL YAM, Israel — On September 23, IM Cannabis Corp., a medical cannabis company with operations in Israel and Germany, received written notice from Nasdaq Stock Market LLC indicating the company has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1 per share.

The closing bid price of the company’s ordinary shares was $1 per share or greater for the 18 consecutive business days from August 27 to September 22. Accordingly, Nasdaq considers the bid price deficiency matter now closed, IMC said.

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