IM Cannabis receives Nasdaq notice of non-compliance

The company has received a written notification from the Nasdaq Stock Market dated April 9, notifying the company that it is no longer in compliance with Nasdaq Listing Rule 5550(b)(1). Nasdaq Listing Rule 5550(b)(1) requires companies listed on the Nasdaq Capital Market to maintain a minimum of $2.5M in stockholders’ equity for continued listing. In the company’s Form 20-F for the period ended December 31, 2024, dated March 31, 2025, the company reported stockholders’ equity of $ $2,184,722. As of April 8, Nasdaq has also determined that the company does not meet the alternative requirements relating to market value of listed securities or net income from continuing operations and, therefore, no longer complies with the Listing Rule. The company is looking into various options available to regain compliance and maintain its continued listing on the Nasdaq Capital Market.