Mr. Oren Shuster reports

IM CANNABIS RECEIVES NASDAQ NOTIFICATION OF REGAINING COMPLIANCE WITH NASDAQ'S MINIMUM BID PRICE REQUIREMENT

On July 26, 2024, IM Cannabis Corp. has received formal notice from The Nasdaq Stock Market LLC stating that the company has regained compliance with the minimum bid price requirement set forth in Rule 5550(a)(2) of the Nasdaq listing rules. IM is now in compliance with all applicable listing standards and will continue to be listed and traded on the Nasdaq Stock Market.

As previously announced, the company was notified by Nasdaq on Aug. 1, 2023, that it was not in compliance with the minimum bid price of $1 per share for 30 consecutive business days as required by the listing rules of Nasdaq and on Jan. 31, 2024, has received a 180-calendar-day extension, until July 29, 2024, from Nasdaq to regain compliance. Since then, Nasdaq staff has determined that for the last 10 consecutive business days, from July 12, 2024, to July 25, 2024, the closing bid price of the company's ordinary shares has been at $1 per share or greater. Accordingly, the company has regained compliance with Listing Rule 5550(a)(2) and the matter has been closed.

About IM Cannabis Corp.

IM 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 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.

We seek Safe Harbor.