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IM Cannabis raises US$225,000 in convertible note financing

PUBT · 2d ago

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IM Cannabis raises US$225,000 in convertible note financing

IM Cannabis closed a private placement convertible note financing with an institutional investor for gross proceeds of USD 225,000.
Note principal totals USD 225,000 with a 10% original issue discount; interest runs at 8%, rising to 14% on default.
Debt is non-cash repayable; obligations are satisfied only through common-share issuance on conversion.
Conversion price is the lower of USD 0.29 or 90% of the 20-day low VWAP; floor set at USD 0.06.
Deal included warrants for 781,250 shares at an exercise price of CAD 0.4, exercisable immediately through June 3, 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: 202606031601PR_NEWS_USPR_____LN75342) on June 03, 2026, and is solely responsible for the information contained therein.

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