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Please see the other risks, uncertainties and factors set out under the heading "Risk Factors" in the Company's annual information form dated March 31, , which is available on the Company's issuer profile on SEDAR at www. Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made.

The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Financial Outlook The Company and its management believe that the statements regarding increased revenue, increased gross margin, positive adjusted EBITDA and positive cash flow contained in this press release are reasonable as of the date hereof, are based on management's current views, strategies, expectations, assumptions and forecasts, and have been calculated using accounting policies that are generally consistent with the Company's current accounting policies.

These statements are considered future-oriented financial outlooks and financial information collectively, "FOFI" under applicable securities laws. These statements and any other FOFI included herein have been approved by management of the Company as of the date hereof. Such FOFI are provided for the purposes of presenting information about management's current expectations and goals relating to the benefits of existing sales and supply agreements with Focus Medical and Adjupharm, increased sales in Israel through the fulfilment of Focus Medical's existing supply agreements, increased sales from the resumption of product shipments to Adjupharm and new supply agreements for medical cannabis to be received by Adjupharm in Germany, the inclusion of Panaxia, MYM and Trichome operations in the Company's financial results following closing of the respective acquisitions, additional product launches by Trichome under the WAGNERS brand and the future business of the Company.

However, because this information is highly subjective and subject to numerous risks, including the risks discussed above under "Disclaimer for Forward Looking Statements", it should not be relied on as necessarily indicative of future results. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the FOFI prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although management of IMC has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company disclaims any intention or obligation to update or revise any FOFI, whether as a result of new information, future events or otherwise, except as required by securities laws.

The Company defines adjusted EBITDA as EBITDA adjusted by removing other non-recurring or noncash items, including the unrealized change in fair value of biological assets, realized fair value adjustments on inventory sold in the period, share-based compensation expenses, depreciation of right-of-use assets, revaluation adjustments of financial assets and liabilities measured on a fair value basis and non-recurring transaction costs included in operating expenses.

The Company defines gross margin as the difference between revenue and cost of goods sold divided by revenue expressed as a percentage , prior to the effect of a fair value adjustment for inventory and biological assets. Readers are cautioned that such non-IFRS measures may not be appropriate for any other purpose. These tablets enable a higher level of absorption of the active substances into the bloodstream without initial passage through the liver and thus, contribute to the effective and rapid relief to the patient.

Furthermore, they enable physicians to adjust a more precise treatment routine to the patients and have been proved to provide a better response to treatment and improved patient satisfaction, mainly due to the effectiveness of the treatment, the simplicity and accuracy of the usage. The ANSM program, which was launched in March , includes about 3, patients, who are receiving medical cannabis in France for the first time.

The list of indications compiled by the ANSM includes the following diseases and treatments: cancer, certain types of epilepsy, multiple sclerosis, palliative care, and pain that does not respond to conventional treatment. More recent news from Panaxia:.

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