IM Cannabis Corp. (NASDAQ:IMCC) Q1 2022 Earnings Conference Call May 12, 2022 5:00 PM ET

Company Participants

Oren Shuster - Chief Executive Officer

Shai Shemesh - Chief Financial Officer

Maya Lustig - Investor Relations

Conference Call Participants

Aaron Grey - Alliance Global Partners

Scott Fortune - Roth Capital Partners

Operator

Welcome to IM Cannabis Q1 2022 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. I would like to turn the conference over to Maya Lustig, Investor Relations at IM Cannabis. 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 position, market, economic conditions, product releases, partnerships, and any other statements that may be constructed as a prediction of future performance.

The information may involve known and unknown risks, uncertainties, and other factors which 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 these 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 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. Hello, everyone, and thank you for joining us for our first quarter 2022 earnings call. The first quarter was highlighted by two key factors. First with our operational execution, the benefits of integrating our global model has began to take hold, allowing us to identify various opportunities for margin expansion. The primarily relates to centralizing our operations in Israel, where we are transitioning our supply source towards the third supply model leveraging our Canadian yield.