IM Cannabis plans $1.6M in private placement and reshuffles its options | Where to buy Skittles Moonrock online

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IM Cannabis Corp. announced plans to offer a private placement of up $1.6 million, led by Oren Shuster, CEO.

The Israeli-based medical marijuana company intends to sell up to 625,000 units each consisting of one share and one warrant. You can also read about it here A news release is a short piece of writing.

The price of the offering will be determined by recent trading averages. Closure is expected to occur on November 11.

The company intends to repay a loan made to A.D.I. with the proceeds of the offering. CAR ALARMS & STEREO SYSTEMS Ltd. to its subsidiary IMC Holdings Ltd. by October 11, 2022,” stated the release.

The company did not specify how much it was. ADI The loan for 2022 is a part of the total amount.

Gleichzeitig, the company will pay Shuster $560,000 for the loan guarantees he gave on the over $8 million of loans the company has taken out since October 2022.

The company announced the cancellation of 175,000 options and warrants citing unrealistic exercise price. In order to replace the cancelled options, new options will be granted.

IM Cannabis, which has recently left the Canadian market. Focus On its Israeli and German markets, noted that the transactions are expected be exempted from certain regulatory requirements.

The company has made steady progress in Germany where its subsidiary Adjupharm GmbH distributes cannabis to pharmacies that provide medical cannabis patients. The company has already stated that the country provides More than a quarter Total sales