IM Cannabis Corp. (NASDAQ:IMCC) (CSE:IMCC) has engaged international investor relations specialists MZ Group to lead the Company's strategic investor relations and financial communications program across all key markets.
The Deal Details
The investor relations agreement between the company and MZ commenced on February 1, 2022 for a term of three months until April 30, 2022, and will automatically renew for an indefinite period, subject to termination by either party upon 30 days prior written notice.
Pursuant to the agreement, MZ Group will be paid a fee of $14,000 per month, plus applicable taxes. Subject to the terms of the agreement and if it remains in effect as of August 1, 2022, the company will issue MZ 35,000 common shares at a price per share to be determined on the market price of the company's common shares on the Canadian Securities Exchange on the trading day prior to August 1, 2022, subject to applicable discounts permitted under CSE policies.
Why It Matters?
MZ will work closely with IM Cannabis management to develop and implement a comprehensive capital markets strategy designed to increase the company's visibility throughout the investment community.
The campaign will highlight IM Cannabis' position at the forefront of the global cannabis industry and the company's progress with its expansion strategy through regulatory and supply chain expertise, synergistic multi-market benefits, global consumer insights, and advancements in medical cannabis. MZ maintains offices worldwide and has developed a distinguished reputation as a premier resource for institutional investors, brokers, analysts, and private investors.
Brooks Hamilton, director at MZ North America, will advise IM Cannabis in all facets of corporate and financial communications, including the coordination of non-deal roadshows and investment conferences across key cities and building brand awareness with financial and social media outlets.
"IM Cannabis has built a diversified portfolio of brands to supply premium, forward-looking product offerings to consumers on a global scale, supported by high quality cultivation and a robust distribution platform,” Hamilton said. “ As a multi-country operator with a footprint in the three largest federally legal markets, the company is uniquely positioned to capitalize on evolving industry and consumer trends within the medical cannabis and adult-use recreational markets, and to capture further international market share."
What’s Next?
Oren Shuster, CEO of IM Cannabis, said that the company is “working to maximize the potential of its global supply chain, as well as achieve continued market-share growth of our popular brands in Canada, broaden our sales channels in Israel, and prepare for our entrance to the European market.”
“ We look forward to working with Brooks and the entire team at MZ Group to effectively communicate our strategy for sustainable, long-term value creation for our shareholders," Shuster said.
Photo: Courtesy of Chris Liverani on Unsplash
