IM Cannabis Corp. (“IMC”), a multi-country operator (“MCO”) in the medical and adult-use recreational cannabis sector with operations in Israel, Germany, and Canada announced the signing of a binding letter of intent (the “Binding LOI”) with cbdMD, Inc. (YCBD), one of the leading and most highly trusted and recognized CBD health & wellness companies. Pursuant to the Binding LOI, the Company will be the exclusive importer of cbdMD, Inc.’s products to Israel. The Company is also providing details of the shares \issued as part of the consideration paid in connection with the previously announced acquisition of Panaxia-to-the-Home online pharmacy from Panaxia Pharmaceutical Industries Israel Ltd. and Panaxia Logistics Ltd., part of the Panaxia Labs Israel, Ltd. group of companies (“Panaxia”) (PNAX). On August 3, 2021, IMC and cbdMD, Inc. executed the Binding LOI that will grant IMC an exclusive right to import, sell, distribute and market cbdMD products in Israel using the cbdMD brand name and trademark, subject to the legalization of CBD for non-medical purposes in Israel
Published Ncv Newswire, New Cannabis Ventures, 08/09/2021 08:18:00