Financing ·
On August 7, 2026, IM Cannabis Corp. closed a private placement raising US$250,000 in gross proceeds through the…
IMCCIM Cannabis Corp.
On August 7, 2026, IM Cannabis Corp. closed a private placement raising US$250,000 in gross proceeds through the issuance of convertible notes to an institutional investor. The company received net proceeds of US$225,000 after a 10% original issuance discount. The notes bear interest at 8% per annum, increasing to 14% upon default, and are not repayable in cash; obligations are satisfied solely through conversion into common shares. Conversion occurs at the lower of a fixed price of US$0.122 or 90% of the lowest daily volume-weighted average price over the preceding 20 trading days, subject to a floor of US$0.02436 and a 4.99% beneficial ownership cap. The transaction included warrants to purchase up to 2,052,545 common shares at an exercise price of CAD$0.17 per share, exercisable immediately for five years until August 7, 2031. Proceeds are intended for general corporate purposes. IM Cannabis Corp. operates in the medical cannabis industry, importing and distributing cannabis to patients in Israel and Germany.