IM Cannabis Corp. Form 6-K Filing Summary

On April 6, 2026, IM Cannabis Corp. entered into a Note Purchase Agreement with an institutional investor to issue a convertible note and a warrant. The convertible note, in the principal amount of US$250,000, is convertible into the Company's common shares. The warrant allows the holder to purchase up to 272,861 common shares at an exercise price of CAD$0.47 per share. The offering is expected to close on April 7, 2026, with net proceeds of US$225,000 intended for general corporate purposes. The note bears an interest rate of 8.0% per annum, increasing to 14.0% upon an Event of Default. All obligations under the note are to be satisfied solely through the issuance of common shares upon conversion. The conversion price is the lower of a fixed price of $0.339 or 90% of the daily VWAP during the preceding twenty trading days, with a floor price of $0.07. The warrant is exercisable for five years from the issuance date. The agreement includes customary representations, warranties, and covenants, with the Company obligated to file a resale registration statement.