IM Cannabis Corp. announced the results of its annual general and special meeting held on May 23, 2025, where shareholders approved all resolutions. This included the election of five directors, the re-appointment of Fahn Kanne & Co. Grant Thornton Israel as auditor, and the ratification of the Equity Incentive Plan.
Disinterested shareholders also approved Oren Shuster and Rafael Gabay becoming Control Persons of the company. The acquisition of the remaining 26% interest in Focus Medical Herbs Ltd. (the 'Focus Transaction') was approved by disinterested shareholders and closed effective May 26, 2025.
The Focus Purchase Price of NIS 818,740, approximately C$313,970.17, was settled through the issuance of 128,818 Common Shares at a deemed price of C$2.44 per share. Additionally, the company closed a non-brokered private placement of secured convertible debentures for aggregate proceeds of C$2,301,174.70, with debentures maturing on May 26, 2026, and convertible into Common Shares at C$2.61 per share.
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