IMCC News & Events

IM Cannabis has entered into a non-binding letter of intent with Slil.com Holding Ltd., a privately-held Israeli entity beneficially owned and controlled by Oren Shuster, the company's CEO, a director and debtholder of IMC, pursuant to which the company has agreed to sell to Slil its European-focused assets. The company will sell its wholly owned subsidiary, I.M.C. Holdings to Slil, which, following a pre-closing reorganization, will primarily hold the company's European operations as well as the company's interests in Xinteza API Ltd. and Shiran Societe Anonyme. In consideration for the sale of IMC Holdings, Slil will assume an aggregate of approximately C$10.5M of debt held by the company and IMC Holdings, comprised of C$7.5M in retained liabilities and an additional C$3M in certain short-term liabilities. Following completion, IMC will retain its core Israeli operations. The company believes that the proposed transaction may lead to a debt reduction of C$10.5M. The transaction remains subject to the negotiation and execution of a definitive agreement, approval by the Special Committee, regulatory clearances, if required, and satisfaction of other customary conditions and is also subject to a certain exclusivity period.

Avant Brands' wholly-owned subsidiary, GreenTec Holdings, has issued a formal notice of termination for its Trademark Licensing Agreement with Adjupharm, a subsidiary of IM Cannabis Corp. The Agreement was originally announced on May 1, 2024.The decision comes as Avant initiates a broader strategic transition to optimize its international distribution channels and ensure its partnerships are fully synchronized with the Company's long-term global growth strategy. Effective May 31, 2026, all trademark and distribution rights for the blk mkt brand in Germany and Switzerland will revert to GreenTec. Germany represents Avant's largest international export market, as reported in the Company's Fiscal 2025 results. Following the formal termination notice, Avant has initiated an official process to identify a partner capable of maximizing the Company's established momentum in Germany. The Company is vetting established distributors and operators based on market leadership, fiscal & operational maturity and strategic infrastructure.

IM Cannabis announced that, following its previous announcement regarding its decision to explore the introduction of additional business activities, it has entered into a non-binding letter of intent to acquire 51% of Blackaxe Technologies Spolka z Organiczona, a Polish technology company specializing in advanced defense and intelligence solutions.