IM Cannabis Corp (TSE:IMCC) has released an update.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
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.
For further insights into TSE:IMCC stock, check out TipRanks’ Stock Analysis page.