Mergers & Acquisitions ·
IM Cannabis enters non-binding LOI to acquire 51% stake in Space Defense Innovations for shares and warrants
IMCCIM Cannabis Corp.
IM Cannabis Corp. entered a non-binding Letter of Intent to acquire a 51% controlling stake in Space Defense Innovations LLC (SDI), a Polish entity distributing BlueBird Aero Systems’ tactical unmanned aerial systems in Europe. The transaction involves consideration via IMCC common shares and/or pre-funded warrants, capped to prevent any SDI shareholder from exceeding 19.99% ownership of IMCC, plus a 24-month seller loan with 9% interest and warrant coverage. IMCC will also receive a five-year call option for the remaining shares, board control rights, and an on-demand line of credit up to EUR 2.3 million convertible into SDI equity at closing, subject to a minimum valuation of US$5 million. Definitive agreements are targeted within 60 days, pending due diligence and regulatory approvals. IM Cannabis Corp. operates in the medical cannabis industry, importing and distributing cannabis products to patients in Israel and Germany.