Medical marijuana company IM Cannabis Corp. is planning a non-brokered private placement offering of up to $1.6 million through the sale of about 625,000 units.
The company, which operates in Israel and Germany, said in a news release it plans to use the proceeds from the offering to repay a loan that A.D.I. Car Alarms & Stereo Systems provided to its subsidiary IMC Holdings in 2022.
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Each unit will be comprised of one share and one share purchase warrant.
Warrant holders are entitled to acquire one additional share at a price equal to a 50% premium to the offering price any time before 5 p.m. ET on the second anniversary of the closing date.
The offering, expected to close in one or
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