IM Cannabis Closes $1.2M Convertible Note With 15% Discount
Vancouver – November 04, 2026 -- IM Cannabis Corp. (Nasdaq: IMCC) has closed a US$1,200,000 convertible note financing with an existing institutional investor, issuing the note at an original issuance discount of 15% under a purchase agreement dated November 4, 2026.
Note carries 4% interest and a 28-month maturity
The note bears interest of 4% per annum, rising to 14% if an event of default occurs and continues. It matures 28 months after issuance and is repayable in 10 equal monthly instalments starting after the 18th month. The investor may convert all or part of the outstanding balance into common shares on one or more occasions.