IM Cannabis raises US$ 250,000 via convertible note private placement

Reuters2026/08/07 20:03

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IM Cannabis closed a US$ 250,000 convertible note financing in a private placement with an institutional investor.
10% original issuance discount; 8% annual interest, stepping up to 14% on an event of default.
Conversion price set at US$ 0.122 or 90% of the lowest 20-day VWAP, with a US$ 0.02 floor.
Warrants issued for up to 2,052,545 common shares at C$ 0.17, exercisable immediately, expiring Aug. 7, 2031.
Net proceeds earmarked for general corporate purposes.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. IM Cannabis Corp. published the original content used to generate this news brief on August 07, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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IM Cannabis raises US$ 250,000 via convertible note private placement

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