IM Cannabis Enters into Agreement to Sell IMC Holdings and European- Focused Assets
IM Cannabis agreed to sell its subsidiary IMC Holdings to Slil.com Holding, a related party controlled by CEO Oren Shuster, for C$3 million in prior advance payments plus the assumption of liabilities. The transaction will result in the transfer of European assets including Adjupharm GmbH and Xinteza API to Slil, while IMCC retains its Israeli operations. The company expects the divestiture to improve shareholders' equity by approximately C$3 million and reduce its debt burden, with Slil assuming retained liabilities capped at C$9.4 million.
Key figures
- Advance payments received
- C$3,000,000
- Retained liabilities limit
- C$9,400,000
- Shareholders equity improvement
- C$3 million
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