IM Cannabis Announces Pricing of US$1.31 Million Registered Direct Offering of Common Shares

What happened

IM Cannabis announced that it entered into purchase agreements to sell 655,000 common shares at US$2.00 per share in a registered direct offering, producing gross proceeds of approximately US$1.31 million at closing before offering expenses. The company says closing is expected on or about September 24, 2026, subject to customary closing conditions. (Inference: if completed, the financing would increase cash resources by gross proceeds reported; the company will still incur offering expenses and any net amount is not quantified in the release.)

Sources: S1

Offering mechanics and registration status

The press release states the offering is made pursuant to an effective Form F-3 shelf registration that was declared effective by the SEC on July 9, 2025, and that a final prospectus supplement and accompanying prospectus will be filed with the SEC. The company cautioned the press release does not constitute an offer to sell and referred readers to the filed prospectus materials for details.

Sources: S1

Use of proceeds and related-party note

IM Cannabis indicated it intends to use net proceeds for working capital and general corporate purposes, which may include evaluating additional business opportunities. The company disclosed that one or more purchasers may be a related party under MI 61-101 and that it intends, if applicable, to rely on specified exemptions from valuation and minority approval requirements based on financial hardship determinations by the board and independent directors.

Sources: S1

Context and risk disclosures

The release is an issuer-only press release and contains an extended forward-looking statements section listing conditions and risks that could affect completion and outcomes, including the possibility that the offering may not close on the anticipated terms or timing. (Inference: the company identifies many operational, regulatory and geopolitical risks that it says could materially affect results and the financing.)

Sources: S1

What remains uncertain

• The information is from a company press release and therefore represents issuer statements; independent verification of closing, the actual net proceeds after expenses, or the identity and status of any related-party purchasers is not provided in the source.
• Closing is subject to satisfaction or waiver of customary conditions and the press release includes forward-looking statements about timing, proceeds, and intended use of proceeds that may not occur as described.
• The company intends to rely on exemptions under MI 61-101 if applicable; the press release describes the board and independent director determinations that would support reliance, but does not provide independent confirmation of those determinations or whether related-party status has been formally assessed.