IM Cannabis Closes USD 1.2 Million Convertible Note Offering

• IM Cannabis closed a USD 1.2 million convertible promissory note private placement with an existing institutional investor.
• The note carries a 15% original issue discount, pays 4% annual interest and matures in 28 months.
• Repayment begins after month 18 through 10 equal monthly installments; net proceeds will fund general corporate purposes.
• Conversion uses the lower of USD 0.61 or 85% of the lowest 20-day daily VWAP, subject to a USD 0.1449 floor.
• From January 1, 2027, the company may request additional convertible note purchases of up to USD 1.2 million per three-month period.

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: 202611041601PR_NEWS_USPR_____LN89382) on November 04, 2026, and is solely responsible for the information contained therein.