IM Cannabis Announces Closing of the Sale of IMC Holdings and Its European-Focused Operations, Strengthens Balance Sheet
IM Cannabis closed the sale of IMC Holdings and its European-focused operations (Adjupharm, Xinteza API, Shiran) to Slil.com Holding on September 29, 2026. Consideration consisted of a C$3,000,000 advance payment plus Slil assuming IMC Holdings with retained liabilities capped at C$9,400,000; the Company expects roughly C$3 million of improvement in shareholders' equity and no securities were issued. The buyer is beneficially owned by CEO Oren Shuster, making this a related-party transaction under MI 61-101, for which the Company relied on financial-hardship exemptions from formal valuation and minority approval — an explicit admission it was in serious financial difficulty.
Key figures
- Advance payment
- C$3,000,000
- Retained liabilities cap
- C$9,400,000
- Shareholders equity improvement
- approximately C$3 million
AI analysis
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