IM Cannabis Corp. announced on July 31, 2025, the closing of a private placement offering, raising gross proceeds of C$5,622,522, approximately US$4.1 million. The offering involved the issuance of 2,050,000 units.
Each unit consisted of one common share or one pre-funded common share purchase warrant, and one common share purchase warrant. Each warrant entitles its holder to acquire one common share at an exercise price of C$3.43 for a period of sixty months from issuance.
The company intends to use the proceeds from this offering for general working capital, the repayment of existing indebtedness, and general corporate purposes. A resale registration statement on Form F-3 will be filed within thirty calendar days of the closing date to facilitate the resale of these securities.
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