IM Cannabis Corp (TSE:IMCC) has released an update.
IM Cannabis Corp has successfully completed a non-brokered private placement of convertible debentures, raising over $2 million to fuel its expansion in the burgeoning German market, following the country’s legalization of medical cannabis. This strategic financial move comes after the company’s aggressive cost-cutting measures, which saw a 49% reduction in general and administrative expenses in 2023. Additionally, the CEO, Oren Shuster, personally participated in the offering, signaling strong insider confidence in the company’s growth trajectory.
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