IM Cannabis Corp.

IM Cannabis Corp. announced that Mr. Alon Dayan resigned from his position as a director, effective July 26, 2026. The company stated that his resignation was for personal reasons and not due to any disagreement with the company's operations, policies, or practices. IM Cannabis Corp. expressed gratitude for Mr. Dayan's service and contributions during his tenure.

IM Cannabis Corp. has entered into a non-binding Letter of Intent to sell its European operations, held through I.M.C. Holdings Ltd., to Slil.com Holding Ltd., an entity controlled by its CEO. This transaction is expected to significantly reduce the company's debt by approximately CAD$10.5 million. The divestment aims to streamline operations, improve working capital and cash flow, and allow IMC to focus on its core Israeli business and pursue new investment opportunities. The transaction is a related party deal, with the company intending to use financial hardship exemptions from minority shareholder approval.

IM Cannabis Corp. announced the filing of a Form F-3 Resale Registration Statement with the SEC. This statement registers an aggregate of 17,276,931 common shares for resale by selling shareholders. These shares are issuable upon conversion of three convertible promissory notes and the exercise of accompanying warrants issued in April, May, and June 2026. The company will not receive any proceeds from the sale of these shares by the selling shareholders.

IM Cannabis Corp. announced the closing of a US$225,000 convertible note financing with an institutional investor. The company issued a convertible note with a 10% original issuance discount, resulting in net proceeds of US$202,500, which will be used for general corporate purposes. Additionally, a warrant to purchase up to 781,250 common shares was issued, exercisable at CAD$0.40 per share for five years.

IM Cannabis Corp. announced its financial results for the first quarter ended March 31, 2026, reporting revenues of $8.7 million and a net loss of $2.5 million, or $0.38 per share. The company continued its cost optimization initiatives, reducing general and administrative expenses by 22% year-over-year. Management remains focused on operational efficiencies, working capital discipline, and evaluating strategic opportunities, supported by convertible note financings completed during and after the quarter.

IM Cannabis Corp. closed a US$300,000 convertible note and warrant financing with an institutional investor on May 7, 2026. This transaction, combined with a previous US$250,000 financing on April 6, 2026, brings the total gross proceeds from recent similar financings to US$550,000. The US$300,000 note bears an 8% annual interest rate and is convertible into common shares, while the associated warrant allows the purchase of up to 1,127,820 common shares at CAD$0.36. The net proceeds of US$270,000 from this offering will be used for general corporate purposes.