IM Cannabis Corp. (NASDAQ:IMCC) announced on Tuesday that it has launched a comprehensive review of strategic options to enter the United States cannabis market.
The pivot follows a landmark executive order signed by President Donald Trump on Dec. 18, 2025, which directs the Attorney General to expedite the rescheduling of marijuana from Schedule I to Schedule III under the Controlled Substances Act (CSA).
To facilitate this transition, the Toronto-based firm has engaged SSC Advisors to provide financial advisory services.
The mandate includes identifying potential U.S. partners or acquisition targets and managing the possible divestiture of the company’s existing operations in Germany and Israel.
The move toward Schedule III is a significant regulatory shift for international operators.
While it does not fully legalize cannabis at the federal level, it would remove the IRS 280E tax burden, allowing cannabis businesses to claim standard business deductions—a move expected to immediately improve the cash flow and profitability of state-legal operators.
The potential exit from Germany and Israel marks a sharp turn for IM Cannabis, which spent much of 2025 expanding its German subsidiary, Adjupharm GmbH, following that country’s partial legalization in April 2024.
However, consistent net losses—including a $3.9 million loss in Q3 2025—and a dwindling cash position of $2.3 million have prompted management to seek higher-growth opportunities in the U.S.
Management noted that any U.S. expansion or international divestiture remains subject to federal regulatory progress and market conditions.
IM Cannabis will continue to monitor the DEA’s rulemaking process as it prepares for a potential 2026 entry into the American medical and research sectors.