IM Cannabis prices US$250,000 convertible note private placement with institutional investor

Reuters2026/08/07 20:01

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IM Cannabis closed a US$250,000 private placement convertible note financing with an institutional investor, issued under an August 6 note purchase agreement.
Note issued with a 10% original issue discount; 8% annual interest, rising to 14% on an event of default.
Obligations are not repayable in cash; satisfied solely through issuance of common shares upon conversion.
Conversion price set at US$0.12 or 90% of the lowest 20-day VWAP, subject to a US$0.02 floor; 4.99% beneficial ownership cap.
Issued warrants for 2,052,545 shares at C$ 0.17, exercisable immediately; expire Aug. 7, 2031.

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 via PR Newswire (Ref. ID: 202608071601PR_NEWS_USPR_____LN21285) 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 prices US$250,000 convertible note private placement with institutional investor

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