IM Cannabis Corp (NASDAQ: IMCC) has announced the completion of a corporate transaction aimed at strengthening its financial position. The company finalized the Focus Transaction, settling a debt of NIS 818,740 (approximately C$313,970) through the issuance of 128,818 common shares priced at C$2.44 each. This move is part of a broader strategy to support the company’s growth initiatives in Germany.
In addition to the Focus Transaction, IM Cannabis successfully closed a secured convertible debenture offering, raising C$2.3 million. This funding will be directed toward expanding operations in Germany, one of the largest medical cannabis markets in the world. The debentures, set to mature on May 26, 2026, can be converted into common shares at a price of C$2.61 per share.
CEO Oren Shuster has increased his ownership stake in the company to 26.68% on a non-diluted basis, following his participation in the financing activities. He exercised 152,701 pre-funded warrants in conjunction with the debenture offering. Another insider, Rafael Gabay, has also raised his ownership to 15.40% of the shares.
The completion of these transactions reflects IM Cannabis’s commitment to enhancing management control and financial stability. The company aims to leverage these funds to expand its market presence and capitalize on growth opportunities in both Israel and Germany, as it continues to navigate the evolving landscape of the cannabis industry.
These updates follow the annual general meeting held on May 23, 2025, where key resolutions were approved, including the election of five directors and the affirmation of the Focus Transaction. With a clear focus on growth and expansion, IM Cannabis is positioning itself to take advantage of the growing demand for medical cannabis in key markets.
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