IM Cannabis Raises US$225K in Convertible Note with 77,855 Warrants — Third Dilutive Financing in 3 Months
IMCC is trading near its 52-week low of $2.568 (14% above the low) on light trading volume (0.1× avg).
Summary
IM Cannabis raised US$225,000 in a convertible note with a variable conversion price and 77,855 warrants, continuing a pattern of dilutive financings amid going concern and Nasdaq delisting risk.
Key Events · Financing and Capital Events · IMCC
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US$225K Convertible Note Closed
IM Cannabis issued a US$225,000 convertible note to L.I.A. Pure Capital Ltd. with a 10% original issue discount, receiving US$202,500 in net proceeds for general corporate purposes.
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Variable Conversion Price Structure
The note converts at the lower of a US$3.328 fixed price or 90% of the lowest daily VWAP over the prior 20 trading days, with a floor of US$0.665692 — a structure that increases share issuance as the stock price falls.
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77,855 Warrants Issued
The company issued warrants to purchase 77,855 common shares at CAD$4.63 per share, exercisable immediately for five years until September 2, 2031.
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Third Dilutive Financing in 3 Months
This follows US$225,000 raised on July 1 and US$250,000 on August 7, 2026, continuing a pattern of small, deeply dilutive convertible note financings.
Analysis · IMCC · Life Sciences
On September 2, 2026, IM Cannabis closed another deeply dilutive convertible note financing, raising US$225,000 in principal (US$202,500 net) from L.I.A. Pure Capital Ltd. The note converts at the lower of a US$3.328 fixed price or 90% of the lowest VWAP over the prior 20 trading days, with a floor of US$0.665692 — a structure that rewards the investor as the stock falls. The company also issued 77,855 warrants at CAD$4.63 per share. This is the third convertible note financing in roughly three months, following US$225,000 raised on July 1 and US$250,000 on August 7, and comes just weeks after the company reported going concern doubts, a widening Q2 loss, and Nasdaq delisting risk. The financing provides short-term runway but at the cost of significant potential dilution to existing shareholders.
How filings like this one have moved
In the 30 days to Sep 11, 2026, 35.9% of the 1728 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.06%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, IMCC was trading at $2.94 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.9M. The 52-week trading range was $2.57 to $77.10. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.