IM Cannabis Corp (TSE:IMCC) has released an update.
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IM Cannabis Corp has closed a non-brokered private placement offering, raising over C$2 million, which will be used to repay a loan. The company also completed a debt settlement with its CEO, issuing shares and pre-funded warrants to preserve cash for working capital. As the company refocuses its efforts on growing its cannabis market presence in Israel and Europe, it also faces challenges from global economic conditions impacting costs and consumer trends.
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