Looking to divest, IM Cannabis agrees to sell IMC Holdings to CEO-owned firm

IM Cannabis Corp. (Nasdaq: IMCC) has entered into a definitive share purchase agreement to sell all issued and outstanding shares of I.M.C. Holdings Ltd. to Slil.com Holding Ltd., according to a company statement. The agreement is dated August 16, 2026, with a closing deadline of September 30, 2026.

Slil is beneficially owned and controlled by Oren Shuster, the company’s chief executive officer, making the transaction a related party deal under Multilateral Instrument 61-101. The company said it intends to rely on financial hardship exemptions from the formal valuation and minority approval requirements under MI 61-101, citing serious financial difficulty as justification.

The consideration for the transaction consists of C$3,000,000 in prior advance payments already made by Slil and an affiliate, along with Slil’s assumption of retained liabilities not expected to materially exceed C$9,400,000 in aggregate. No securities are being issued or exchanged as part of the deal.