IM Cannabis Receives Nasdaq Notice Over $1 Bid Price, Faces October Deadline
IM Cannabis Corp has received a Nasdaq notice for failing to maintain a minimum $1.00 bid price and has until October 6, 2026 to achieve a closing bid of at least $1.00 for ten consecutive trading days. The company may seek a second 180-day compliance period if it meets market value requirements or consider other measures to cure the deficiency.
1. Nasdaq Minimum Bid Price Deficiency Notice
IM Cannabis Corp received a written notification from Nasdaq indicating non-compliance with Listing Rule 5550(a)(2), as its common shares have traded below the $1.00 per share minimum bid price requirement. The company’s listing remains unaffected during the initial compliance period, and trading will continue under the IMCC symbol on the Nasdaq Capital Market.
2. 180-Day Compliance Window and Cure Options
Nasdaq has granted IM Cannabis a 180-calendar-day window, ending October 6, 2026, to restore a closing bid of at least $1.00 for ten consecutive business days. If the company fails to meet this threshold, it may apply for an additional 180-day period provided it satisfies other initial listing standards and market value of publicly held shares requirements, and submits written notice of its intent to cure.
3. Delisting Risk and Company Response
Should IM Cannabis be unable to regain compliance by the end of the allotted periods, Nasdaq staff will initiate delisting procedures for its common shares. The company has stated it will monitor bid prices closely and evaluate strategic measures—such as share consolidation or other corporate actions—to remedy the deficiency and preserve its Nasdaq listing.