<SEC-DOCUMENT>0001178913-23-002202.txt : 20230613
<SEC-HEADER>0001178913-23-002202.hdr.sgml : 20230613
<ACCEPTANCE-DATETIME>20230613070841
ACCESSION NUMBER:		0001178913-23-002202
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20230613
FILED AS OF DATE:		20230613
DATE AS OF CHANGE:		20230613

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IM Cannabis Corp.
		CENTRAL INDEX KEY:			0001792030
		STANDARD INDUSTRIAL CLASSIFICATION:	MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40065
		FILM NUMBER:		231010233

	BUSINESS ADDRESS:	
		STREET 1:		1 ADELAIDE STREET EAST, UNIT 801
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5C 2V9
		BUSINESS PHONE:		416-256-4202

	MAIL ADDRESS:	
		STREET 1:		1 ADELAIDE STREET EAST, UNIT 801
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5C 2V9
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>zk2329872.htm
<DESCRIPTION>6-K
<TEXT>
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      <div style="text-align: center; line-height: 1.25;"><font style="font-size: 14pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">UNITED STATES</font><font style="font-size: 14pt; font-family: 'Times New Roman',Times,serif;"><br>
        </font><font style="font-size: 14pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font><br>
        Washington, D.C. 20549<br>
        <br>
        <font style="font-size: 14pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Form 6-K</font><br>
        <br>
        <font style="font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16</font><br>
        <font style="font-weight: bold;">UNDER THE SECURITIES EXCHANGE ACT OF 1934</font></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">For the month of <font style="font-weight: bold;"><u>June 2023</u></font></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">Commission File Number: <font style="font-weight: bold;"><u>001-40065</u></font></div>
      <div style="text-align: center; line-height: 1.25;"><br>
        <font style="font-size: 16pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>IM Cannabis Corp.</u></font><br>
        (Exact Name of Registrant as Specified in Charter)<br style="line-height: 1.25;">
        <br>
        <font style="font-weight: bold;"><u>Kibbutz Glil Yam, Central District, Israel 4690500</u></font><br>
        (Address of principal executive offices)</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25;">Form 20-F &#9746;&#160; Form 40-F <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;"><font style="font-weight: bold;">Note</font>: Regulation S-T Rule
        101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;"><font style="font-weight: bold;">Note</font>: Regulation S-T Rule
        101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is
        incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not
        required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.</div>
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      <div style="text-align: center; line-height: 1.25; font-weight: bold;">SIGNATURE</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
        be signed on its behalf by the undersigned, thereunto duly authorized.</div>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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              <div style="line-height: 1.25;">&#160;</div>
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              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="vertical-align: middle;" colspan="2">
              <div style="line-height: 1.25; font-weight: bold;">IM CANNABIS CORP.</div>
            </td>
          </tr>
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            <td style="width: 5%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
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              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="vertical-align: middle;" colspan="2">
              <div style="line-height: 1.25;">(Registrant)</div>
            </td>
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              <div style="line-height: 1.25;">&#160;</div>
            </td>
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              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 6%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
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              <div style="line-height: 1.25;">&#160;</div>
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              <div style="line-height: 1.25;">Date:</div>
            </td>
            <td style="width: 41.52%; vertical-align: middle;">
              <div style="line-height: 1.25;">June 13, 2023</div>
            </td>
            <td style="width: 6%; vertical-align: middle;">
              <div style="line-height: 1.25;">By:</div>
            </td>
            <td style="width: 44.53%; vertical-align: middle;">
              <div style="line-height: 1.25; font-style: italic;"><u>/s/ Oren Shuster</u></div>
            </td>
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              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 41.52%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 6%; vertical-align: middle;">
              <div style="line-height: 1.25;">Name:</div>
            </td>
            <td style="width: 44.53%; vertical-align: middle;">
              <div style="line-height: 1.25;">Oren Shuster</div>
            </td>
          </tr>
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            <td style="width: 5%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 41.52%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 6%; vertical-align: middle;">
              <div style="line-height: 1.25;">Title:</div>
            </td>
            <td style="width: 44.53%; vertical-align: middle;">
              <div style="line-height: 1.25;">Chief Executive Officer and Director</div>
            </td>
          </tr>

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      <div style="text-align: center; line-height: 1.25; font-weight: bold;"><u>EXHIBIT INDEX</u></div>
      <div style="line-height: 1.25">&#160;</div>
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              <div style="line-height: 1.25;"><a href="exhibit_99-1.htm">99.1</a></div>
            </td>
            <td style="width: 90%; vertical-align: middle;">
              <div style="line-height: 1.25;"><a href="exhibit_99-1.htm">News Release dated June
                  13, 2023</a></div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit_99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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  <div style="text-align: right; line-height: 1.25; font-family: 'Times New Roman',Times,serif;"> <font style="font-weight: bold;"><u>Exhibit 99.1</u></font><br>
  </div>
  <div style="line-height: 1.25;"> <br>
  </div>
  <div style="line-height: 1.25;">IM Cannabis Receives NASDAQ Notification of Regaining Compliance with Nasdaq's Minimum Bid Price Requirement</div>
  <div style="line-height: 1.25">&#160;</div>
  <div style="text-align: justify; line-height: 1.25;">TORONTO and GLIL YAM, Israel, June 13, 2023/CNW/ -- IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the "<font style="font-weight: bold;">Company</font>", "<font style="font-weight: bold;">IMCannabis</font>", or "<font style="font-weight: bold;">IMC</font>"), a leading medical cannabis company with operations in Israel and Germany, today announced that on June 12, 2023, it has received formal notice from The Nasdaq Stock Market, LLC ("<font style="font-weight: bold;">Nasdaq</font>") stating that the Company has regained compliance with the minimum bid price requirement set forth in Rule 5550(a)(2)&#160;of the Nasdaq Listing Rules (the &#8220;<font style="font-weight: bold;">Minimum Bid Price Requirement</font>&#8221;). IMC is now in
    compliance with all applicable listing standards and will continue to be listed and traded on the NASDAQ Stock Market.</div>
  <div style="line-height: 1.25">&#160;</div>
  <div style="text-align: justify; line-height: 1.25;">As previously announced, the Company was notified by Nasdaq on April 10, 2023, that it was not in compliance with the Minimum Bid Price of
    $1.00 per share for 30 consecutive business days from February 24, 2023 to April 6, 2023. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), Nasdaq provided a 180-calendar day period following the date of the notice to regain compliance, or until
    October 9, 2023. To regain compliance with the minimum bid price requirement, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. From May 26, 2023 through June 9, 2023, a period
    of 10 consecutive trading days, the closing bid price of the Company's listed securities was greater than $1.00 per share. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2) and the matter has been closed.</div>
  <div style="line-height: 1.25">&#160;</div>
  <div style="text-align: justify; line-height: 1.25; font-weight: bold;">About IM Cannabis Corp.</div>
  <div style="line-height: 1.25">&#160;</div>
  <div style="text-align: justify; line-height: 1.25;">IMC (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis company that provides premium cannabis products to medical patients in Israel
    and Germany, two of the largest medical cannabis markets. The Company has recently exited operations in Canada to pivot its focus and resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany. The Company
    leverages a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain. With an unwavering commitment to responsible growth and compliance with the strictest regulatory environments, the Company strives
    to amplify its commercial and brand power to become a global high-quality cannabis player.</div>
  <div style="line-height: 1.25">&#160;</div>
  <div style="text-align: justify; line-height: 1.25;">The IMC ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd. ("Focus Medical"), which 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 centers, and logistical hubs in Israel that enable the
    safe delivery and quality control of IMC products throughout the entire value chain. In Germany, the IMC ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients.</div>
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  <div style="text-align: justify; line-height: 1.25; font-weight: bold;">Disclaimer for Forward-Looking Statements</div>
  <div style="line-height: 1.25">&#160;</div>
  <div style="text-align: justify; line-height: 1.25;">This press release contains forward-looking information or forward-looking statements under applicable Canadian and U.S. securities laws
    (collectively, "forward-looking statements"). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of
    words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "likely" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking
    statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements relating to compliance with Nasdaq's continued
    listing requirements, and timing and effect thereof; Company leaving the Canadian cannabis market to focus on Israel, Germany and Europe; the restructuring and sale of Trichome under CCAA Proceedings.</div>
  <div style="line-height: 1.25">&#160;</div>
  <div style="text-align: justify; line-height: 1.25;">The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events
    and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These
    include:&#160; any failure of the Company to maintain "de facto" control over Focus Medical in accordance with IFRS 10; the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in
    governmental policies and regulations in the jurisdictions in which the Company operates; the Company's ability to continue to meet the listing requirements of the Canadian Securities Exchange and the NASDAQ Capital Market; any unexpected failure to
    maintain in good standing or renew its licenses; the ability of the Company and Focus Medical (collectively, the "Group") to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide
    sufficient quantities of medical cannabis to fulfil the Group's obligations; the Group's possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal
    proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for
    unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group's cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt and war, conflict
    and civil unrest in Eastern Europe and the Middle East.</div>
  <div style="line-height: 1.25">&#160;</div>
  <div style="text-align: justify; line-height: 1.25;">Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs,
    estimates, expectations and opinions of management on the date such forward-looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors
    should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.</div>
  <div style="line-height: 1.25">&#160;</div>
  <div style="text-align: justify; line-height: 1.25; font-weight: bold;">Company Contact:</div>
  <div style="line-height: 1.25">&#160;</div>
  <div style="text-align: justify; line-height: 1.25;">Oren Shuster, CEO</div>
  <div style="text-align: justify; line-height: 1.25;">IM Cannabis Corp.</div>
  <div style="text-align: justify; line-height: 1.25;">info@imcannabis.com</div>
  <div style="text-align: justify; line-height: 1.25;"> <br>
  </div>
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