Financing ·
IM Cannabis raises $1.2M via convertible note and warrants
IMCCIM Cannabis Corp.
IM Cannabis Corp. closed a private placement on November 4, 2026, issuing a US$1.2 million convertible promissory note with an institutional investor. The note carries a 4% interest rate, maturing in 28 months, and includes a conversion option at the lower of $0.610 or 85% of the 20-day VWAP, subject to a floor price of $0.1449. The company also issued warrants to purchase up to 3,936,330 common shares at an exercise price of $0.610 per share, exercisable immediately and expiring in November 2029. Net proceeds of approximately US$1.02 million will be used for general corporate purposes. IM Cannabis Corp. operates a medical cannabis platform serving patients in Israel through importation, distribution, and retail pharmacies.