IM Cannabis Corp. (NASDAQ:IMCC) Q2 2022 Earnings Conference Call August 15, 2022 9:00 AM ET

Company Participants

Maya Lustig - Director, Investor and Public Relations

Oren Shuster - Chief Executive Officer

Shai Shemesh - Chief Financial Officer

Conference Call Participants

Aaron Grey - AGP

Adam Altberg - BMO

Operator

Good day and welcome to IM Cannabis Second Quarter 2022 Earnings Conference Call. Today’s conference call is being recorded. At this time, I would like to turn the conference over to Maya Lustig, Director of Investor and Public Relations. Please go ahead.

Maya Lustig

Thank you, operator. Joining me today are IM Cannabis Chief Executive Officer, Oren Shuster and Chief Financial Officer, Shai Shemesh. The earnings release that accompanies this call is available on the Investor Relations section of our website at investors.imcannabis.com.

Today’s call will include estimates and other forward-looking information and statements, including statements concerning future revenues, results from operations, financial positions, markets, economic conditions, product releases, partnerships and any other statements that maybe constructed as a prediction of future performance. The information may involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by such statements. Factors that could cause or contribute to such differences are described in detail in the company’s most recent filings available on SEDAR at www.sedar.com and EDGAR at www.sec.gov.

Furthermore, certain non-IFRS measures will be referred to during this call. The company believes that the presentation of this non-IFRS information provides useful supplementary data concerning the company’s ongoing operation and is provided for informational purposes only. Any estimates or forward-looking information or statements provided are accurate only as of the date of this call and the company undertakes no obligation to publicly update any forward-looking information or statements or supply new information regarding the circumstances after the date of this call. Please also note that all references on this call reflect currency in Canadian dollars.

With that, it is my pleasure to turn the call over to Oren Shuster, CEO of IM Cannabis. Oren, please go ahead.

Oren Shuster

Thank you, Maya. Good morning, everyone and thank you for joining us for our second quarter 2022 earnings call. We are very pleased with our financial results and operational execution in the quarter particularly compared to our peers, have recently performed.

Before I go into the overall and regional details, I would like to describe the big picture we are creating. We are a multi-market cannabis company with the leading position in each of the three largest federally legal markets in the world, Canada, Israel and Germany. Our strength lies in our ability to work as one unit to meet and exceed and customer demand and regulatory requirements in the different markets in which we operate. Our global supply chain and regional expertise set us apart from our peers and we will apply that to upcoming growth opportunities, particularly in Germany. This is by far one of the largest and the most exciting opportunities we have in front of us.