IM Cannabis

The board of IM Cannabis has approved a 1-for-30 reverse stock consolidation to become effective August 27 and will keep the ticker symbol IMCC unchanged. Outstanding common shares will be reduced from about 18,117,650 to approximately 603,922; fractional shares will be rounded up or cancelled, and the exercise and conversion prices of convertible securities will be adjusted proportionally. The measure aims to raise the per-share price to meet NASDAQ’s $1.00 minimum; IM Cannabis has until October 6, 2026 to regain compliance within the 180‑day cure period, but there is no guarantee of success. » Więcej na de.investing.com

IM Cannabis has agreed to sell all shares of I.M.C. Holdings to Slil.com Holding, with the Israeli medical-cannabis business being spun off before closing and remaining with IM Cannabis. The consideration includes CAD 3 million in prepaid amounts already made and the assumption of liabilities expected to be up to CAD 9.4 million, with no issuance of securities. The transaction is a related-party transaction because Slil is economically owned by Oren Shuster, the CEO; the board has formed a special committee and engaged Beta Finance for a fairness opinion. Closing conditions apply and the outside closing date is September 30, 2026. » Więcej na de.investing.com

IM Cannabis completed a private placement of a $250,000 convertible note with an initial issue discount of 10%; the note bears interest at 8% per annum, rising to 14% upon default. Repayment will be made solely in common shares at the lower of $0.122 per share or 90% of the lowest daily VWAP over the 20 consecutive trading days prior to conversion, with a floor price of $0.02436 and a participation cap of 4.99%. In addition, warrants for up to 2,052,545 common shares at C$0.17 were issued; net proceeds will be used for general corporate purposes and the securities are subject to a four-month hold period and planned registration filings with the SEC. » Więcej na de.investing.com