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PRNewsWire
2 months ago
IM Cannabis Closes Private Placement for Gross Proceeds of Approximately US$4.1 Million
TORONTO and GLIL YAM, Israel , July 31, 2025 /PRNewswire/ -- IM Cannabis Corp. ("IM Cannabis" or the "Company") (NASDAQ: IMCC), a leading medical cannabis company with operations in Israel and Germany, is pleased to announce that, effective July 30, 2025 (the "Closing Date") it has closed a private placement offering (the "Offering"), through the issuance of 2,050,000 units (each a "Unit") at a price per Unit of C$2.7427 for gross proceeds of C$5,622,522, approximately US$4,100,000, based on an exchange rate of US$1.0000:C$1.3713 as of July 21, 2025, as published on the website of the Bank of Israel (the "Exchange Rate"). Each Unit consisted of one common share in the capital of the Company (each, a "Common Share"), or one pre-funded Common Share purchase warrant (each, a "Pre-Funded Warrant") in lieu thereof, and one Common Share purchase warrant (each, a "Warrant").