IMCC - Avant and IMC Execute BLK MKT™ Trademark Licensing Agreement for the German Medical Cannabis Market | Benzinga
TORONTO, GLIL YAM, Israel and KELOWNA, BC., April 4, 2024 /PRNewswire/ -- IM Cannabis Corp. (CSE:IMCC) (NASDAQ:IMCC) (the "Company", "IMCannabis", or "IMC"), a leading medical cannabis company with operations in Israel and Germany, and Avant Brands Inc. (TSX:AVNT) (OTCQX:AVTBF) (FRA: 1BU0) ("Avant") a leading producer of innovative cannabis products, jointly announce the signing of an international trademark licensing agreement (the "Licensing Agreement") granting Adjupharm GmbH, IMC's German subsidiary ("Adjupharm" or "IMC Germany", as applicable), the exclusive right to launch the BLK MKT™ brand in the German medical cannabis market. The Licensing Agreement constitutes another major milestone with respect to the relationship between the two cannabis companies.
Under the terms of the Trademark License Agreement, Avant's subsidiary will grant IMC Germany the license to utilize Avant's BLK MKTTM cannabis brand for use on their medical cannabis products. All such products will contain cannabis cultivated exclusively by Avant and subsequently exported to Germany. The collaboration between the two companies anticipates a positive outcome in the emerging German medical cannabis market, especially following the recent legalization by the government on April 1st.
The Licensing Agreement signals IMC's commitment to implementing a premium strategy in Germany as well as in Israel and acts as another step to establish Avant's position in the ultra-premium segment in Israel and Germany. IMC and Avant have had a productive partnership so far, combining Avant's premium cannabis products with IMC's sales, marketing and distribution expertise in Israel. Both companies believe the Licensing Agreement will enhance the companies' capabilities to meet the demands of the German market.
"By evolving our partnership with Avant, we continue to improve our supply chain and ability to provide ultra-premium, quality brand and product to the German medical cannabis market," Oren Shuster, CEO of ...