Mr. Oren Shuster reports

IMC APPLAUDS THE APRIL 1ST IMPLEMENTATION OF THE NEW ISRAELI CANNABIS REGULATION, FACILITATING ACCESS FOR MANY NEW PATIENTS

IM Cannabis Corp. is welcoming the implementation of medical cannabis regulatory reform in Israel on April 1.

The reform, announced by the Israeli Ministry of Health on Aug. 7, 2023, underwent a three-month delay due to the Israel-Hamas war following its initial announcement.

The reform will be implemented in phases, as approved and announced by the Israeli Ministry of Health. The key aspects of the initial phase, commencing today, April 1, are as follows:

1. Change in the prescription process: Patients with a wide range of diseases and medical conditions from oncology to Parkinson's will no longer be required to obtain a licence to receive medical cannabis. Patients will receive a prescription similar to those for other prescription medications. Pain and PTSD (posttraumatic stress disorder) are not included in the reform yet.
2. Medical cannabis will now be prescribed through the HMOs (health maintenance organizations), Israel's public health care system: Until the reform, cannabis could not be prescribed through the HMOs, which cover the majority of the Israeli population.
3. The number of prescribing physicians is expected to increase: As of today, HMO physicians, who are duly trained and certified within their field of expertise, can prescribe medical cannabis as a first-line treatment, as opposed to a last resort, based on medical discretion for the approved indications.
4. The cost for prescription is anticipated to be reduced: The Ministry of Health limited the cost for a medical cannabis prescription.

"We believe that by facilitating the access to medical cannabis, for many new patients, the new regulations will transform the medical cannabis market in Israel," said Oren Shuster, chief executive officer of IM Cannabis. "By improving the accessibility, increasing the potential number of prescribers, and lowering the cost of obtaining a cannabis prescription, we anticipate an increase in the number of medical cannabis patients."

About IM Cannabis Corp.

IM Cannabis 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 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.

The IM Cannabis ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The company also operates medical cannabis retail pharmacies, on-line platforms 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, where it distributes cannabis to pharmacies for medical cannabis patients. Until recently, the company also actively operated in Canada through Trichome Financial Corp. and its wholly owned subsidiaries, where it cultivated, processed, packaged and sold premium and ultrapremium cannabis at its own facilities under the Wagners and Highland Grow brands for the adult-use market in Canada. The company has exited operations in Canada and considers these operations as discontinued.

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