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IM Cannabis Corp C.IMCC

Alternate Symbol(s):  IMCC

Healthcare
IM Cannabis Corp. is a Canada-based international cannabis company that provides cannabis products to medical patients in Israel and Germany. The Company's ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, leveraging proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel. In Germany, the Company operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients. It offers four different product lines, leading with the Craft Collection which offers the highest quality Canadian craft cannabis flower. The Company's other product lines include Top-Shelf Collection, Signature Collection and Full Spectrum Extracts. The Company's brands include The WAGNERS, BLKMKT, LOT420, and The PICO collection (minis).


CSE:IMCC - Post by User

IM Cannabis Corp
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Post by Betteryear2on Apr 28, 2023 7:48am
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Post# 35418673

IM Cannabis Announces Units for Debt Settlement

IM Cannabis Announces Units for Debt SettlementTORONTO and GLIL YAM, Israel, April 28, 2023 /CNW/ -- IM Cannabis Corp. (the "Company" or "IMC") (NASDAQ: IMCC) (CSE: IMCC), an international medical cannabis company, has agreed to a securities for debt settlement transaction (the "Debt Settlement") with L5 Capital Inc. ("L5 Capital"), a company wholly-owned and controlled by Marc Lustig, the executive chairman and a director of the Company.  Pursuant to the Debt Settlement, the Company will settle outstanding indebtedness of $838,776 (approximately US$615,615, using the Bank of Canada daily exchange rate for April 26, 2023) through the issuance of 492,492 units (the "Units") at a price of US$1.25 per Unit. Each Unit consists of one common share of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant entitles L5 Capital to purchase one additional Common Share at an exercise price of US$1.50 for a period of 36 months from the date of issue.

IM Cannabis Announces Units for Debt Settlement (newswire.ca)
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