IM Cannabis Closes Private Placement for Gross Proceeds of Approximately US$4.1 Million

Core Points - IM Cannabis Corp. has successfully closed a private placement offering, raising gross proceeds of approximately C$5,622,522 (around US$4,100,000) by issuing 2,050,000 units at a price of C$2.7427 per unit [1] - Each unit consists of one common share or one pre-funded common share purchase warrant and one common share purchase warrant, with the latter allowing the purchase of shares at C$3.43 for a period of 60 months [2] - The proceeds from the offering will be used for general working capital, repayment of existing debt, and other corporate purposes [6] Company Overview - IM Cannabis Corp. is a leading medical cannabis company operating in Israel and Germany, focusing on providing premium cannabis products to medical patients [7] - The company utilizes a data-driven approach and a globally sourced product supply chain to enhance its operations and compliance with regulatory standards [7] - In Israel, the company imports and distributes cannabis, operates medical cannabis retail pharmacies, and manages logistical hubs to ensure quality control [8] - In Germany, IM Cannabis operates through Adjupharm GmbH, distributing cannabis to pharmacies for medical patients [9]