- IM Cannabis Corp. (IMCC) has announced a non-brokered private placement for gross proceeds of up to US$3,700,000
- The company will issue up to 2,960,000 units at US$1.25 per unit
- The offering is expected to close no later than March 2, 2023
- The company is offering an additional 2,000,000 units under a separate offering for gross proceeds of US$2,500,000
- IM Cannabis is an international cannabis company providing products to medical patients and adult-use recreational consumers
- IM Cannabis Corp. opened trading at C$1.70
IM Cannabis Corp. (IMCC) has announced a non-brokered private placement for gross proceeds of up to US3,700,000.
The company will issue up to 2,960,000 units at US$1.25 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant may be exercised to purchase one additional common share at an exercise price of US$1.50 for a period of 36 months.
The securities will be issued under the Listed Issuer Financing Exemption Offering and will not be subject to any statutory hold period.
Net proceeds will be used for general working capital purposes.
The offering is expected to close on or about March 2, 2023.
The company is offering an additional 2,000,000 units on a non-brokered private placement basis for additional gross proceeds of US$2,500,000. This additional offering will be led by company insiders, including Oren Shuster, Chief Executive Officer and Director of IM Cannabis Corp.
IM Cannabis is an international cannabis company providing products to medical patients and adult-use recreational consumers. IM Cannabis has operations in Israel, Germany, and Canada.
IM Cannabis Corp. opened trading at C$1.70.
