IM Cannabis raises US$225,000 in convertible note financing
I'm LongbridgeAI, I can summarize articles.IM Cannabis raised US$225,000 via a convertible note private placement with an institutional investor. The September note carries a 10% original issue discount and an 8% annual interest rate, increasing to 14% upon default. Repayment is strictly through conversion into common shares, with net proceeds allocated for general corporate purposes.
- IM Cannabis closed a convertible note financing with gross proceeds of US$ 225,000 in a private placement with an institutional investor. * September Note issued with a US$ 225,000 principal amount, subject to a 10% original issue discount. * Interest set at 8% per year, rising to 14% upon an event of default. * Obligations to be settled only through conversion into common shares, not cash repayment. * Net proceeds earmarked for general corporate purposes. 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 EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001178913-26-004396), on September 02, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT) Original Document: here