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ARTICLE · 20 MAY 2021

IM Cannabis Closes US$35 Million Equity Financing

Gowling WLG
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IMC is a multi-country operator ("MCO") in the medical and adult-use recreational cannabis sector with operations in Israel, Germany and Canada.

CanadaCorporate/Commercial Law
Peter Simeon
Peter Simeon
Josh Almario
Josh Almario
Jill Dunn
Jill Dunn
Josh Rosen
Josh Rosen
Howard Xin
Howard Xin
Harrison Sversky
Harrison Sversky
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On May 10, 2021, IM Cannabis Corp. ("IMC" or the "Company") (CSE: IMCC) (NASDAQ: IMCC) announced the closing of its previously announced overnight marketed offering of 6,086,956 common shares of the Company (each an "Offered Share") at a price of US$5.75 per Offered Share for aggregate gross proceeds of approximately US$35 million.

IMC also issued 3,043,478 common share purchase warrants (each a "Warrant") to purchasers of Offered Shares, for no additional consideration, that entitle the holders to purchase common shares of the Company at an exercise price of US$7.20 for a term of 5 years from the closing date.

A.G.P./Alliance Global Partners and Roth Capital Partners acted as co-lead agents for the Offering in connection with offers and sales in the US. Roth Canada, ULC acted as the sole agent in Canada.

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