Loan & DebtAug 7, 2026, 04:34 PM
IM Cannabis Raises $250,000 via Convertible Note & Warrants
AI Summary
IM Cannabis Corp. secured US$250,000 in gross proceeds through a private placement with an institutional investor. The financing involved the issuance of a convertible note with an 8.0% annual interest rate and a warrant to purchase up to 2,052,545 common shares at CAD$0.17 per share. The note is convertible into common shares at a variable price, subject to a floor, and the net proceeds of US$225,000 will be used for general corporate purposes.
Key Highlights
- Raised US$250,000 gross proceeds from an institutional investor.
- Issued a convertible note with an 8.0% annual interest rate.
- Note convertible at lower of US$0.122 or 90% of 20-day VWAP, floor US$0.02436.
- Issued a warrant to purchase up to 2,052,545 common shares.
- Warrant exercise price is CAD$0.17 per common share.
- Net proceeds of US$225,000 will be used for general corporate purposes.
- Warrant is exercisable for 5 years, until August 7, 2031.
Price Impact
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