IM Cannabis Corp. Secures US$2 Million Loan Facility
Ticker: IMCC · Form: 6-K · Filed: 2025-07-09T00:00:00.000Z
Sentiment: neutral
Topics: debt, financing
TL;DR
IM Cannabis Corp. just got a $2M loan from L.I.A. Pure Capital, already took $1M, more coming.
AI Summary
On July 6, 2025, IM Cannabis Corp. entered into a loan agreement with L.I.A. Pure Capital Ltd. for a total of US$2 million. The company has already received the first tranche of US$1 million and has the option to receive a second tranche of US$1 million within 60 days.
Why It Matters
This new loan facility provides IM Cannabis Corp. with additional capital, potentially supporting its operational or strategic initiatives.
Risk Assessment
Risk Level: medium — The company is taking on new debt, which increases financial leverage and repayment obligations.
Key Numbers
- US$2.0M — Loan Facility (Total amount available from L.I.A. Pure Capital Ltd.)
- US$1.0M — First Tranche (Amount already received by IM Cannabis Corp.)
Key Players & Entities
- IM Cannabis Corp. (company) — Borrower
- L.I.A. Pure Capital Ltd. (company) — Lender
- US$2 million (dollar_amount) — Total loan amount
- US$1 million (dollar_amount) — First loan tranche received
- US$1 million (dollar_amount) — Potential second loan tranche
- July 6, 2025 (date) — Date of loan agreement
FAQ
What is the interest rate on the US$2 million loan agreement?
The filing does not specify the interest rate for the loan agreement.
What are the specific terms for receiving the Second Loan Tranche?
The filing states the Second Loan Tranche may be received no later than 60 days, but does not detail other specific terms or conditions for its disbursement.
What is the maturity date of the loan agreement?
The provided text does not mention the maturity date of the loan agreement.
What is the purpose of the US$2 million loan?
The filing does not specify the intended use of the loan proceeds.
Is L.I.A. Pure Capital Ltd. a related party to IM Cannabis Corp.?
The filing does not indicate any related party status between IM Cannabis Corp. and L.I.A. Pure Capital Ltd.
From the Filing
0001178913-25-002339.txt : 20250709 0001178913-25-002339.hdr.sgml : 20250709 20250709082020 ACCESSION NUMBER: 0001178913-25-002339 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 6 CONFORMED PERIOD OF REPORT: 20250709 FILED AS OF DATE: 20250709 DATE AS OF CHANGE: 20250709 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IM Cannabis Corp. CENTRAL INDEX KEY: 0001792030 STANDARD INDUSTRIAL CLASSIFICATION: MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833] ORGANIZATION NAME: 03 Life Sciences EIN: 000000000 STATE OF INCORPORATION: A1 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-40065 FILM NUMBER: 251112326 BUSINESS ADDRESS: STREET 1: KIBBUTZ GLIL YAM CITY: CENTRAL DISTRICT STATE: L3 ZIP: 4690500 BUSINESS PHONE: 416-256-4202 MAIL ADDRESS: STREET 1: KIBBUTZ GLIL YAM CITY: CENTRAL DISTRICT STATE: L3 ZIP: 4690500 6-K 1 zk2533428.htm 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934   For the month of July 2025 (Report No. 2) .   Commission File Number: 001-40065 IM Cannabis Corp. (Exact Name of Registrant as Specified in Charter) Kibbutz Glil Yam, Central District, Israel 4690500 (Address of principal executive offices)   Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ☒  Form 40-F ☐   CONTENTS   Loan Agreement   On July 6, 2025, IM Cannabis Corp. (the “ Company ”) entered into a loan agreement (the “Loan Agreement”) with L.I.A. Pure Capital Ltd. (the “ Lender ”) for an aggregate amount of US$2 million. Pursuant to the Loan Agreement, the Company received an amount of US$1 million (the “ First Loan Tranche ”) and may receive an additional amount of US$1 million (the “ Second Loan Tranche ”) no later than 60 days from signing the Loan Agreement, subject to satisfying certain conditions.   Pursuant to the Loan Agreement, the Lender has a right to recommend a director to be appointed to the Company’s board of directors (the “ Board ”), as described in more detail below.   A copy of the Loan Agreement is attached hereto as Exhibit 10.1 and incorporated by reference herein. The foregoing summary of the Loan Agreement is subject to, and qualified in its entirety by reference to, such exhibit.   Appointment to Board of Directors   On July 6, 2025, Mr. Oz Adler was appointed to the Board, effective as of July 6, 2025. Mr. Oz Adler, CPA,  currently serves as SciSparc Ltd. Chief Executive Officer since January 2022 and Chief Financial Officer since April 2018, and previously served as Scisparc Ltd.’s VP Finance from March 2018 until April 2018, and as SciSparc Ltd.’s Controller from September 2017 to March 2018. Mr. Adler has experience in a wide variety of managerial, financial, tax and accounting roles. Mr. Adler currently serves on the board of directors of numerous private companies, such as Polyrizon Ltd., and public companies, including Jeffs’ Brands Ltd (Nasdaq: JFBR), Rail Vision Ltd. (Nasdaq: RVSN) and Clearmind (Nasdaq: CMND), (FSE: CWY), and previously served as the chief financial officer of XYLO Technologies Ltd. (Nasdaq: XYLO) from December 2020 to April 2021. From 2012 until 2017, Mr. Adler was employed as a certified public accountant at Kost Forer Gabbay & Kasierer, a member of Ernst & Young Global. Mr. Adler holds a B.A. in Accounting and Business management from The College of Management, Israel.   Mr. Adler is not a party to any transactions that are disclosable under Item 7.B of Form 20-F.   On July 9, 2025, the Company issued a press release titled: “IM Cannabis Announces the Signing of a Loan Agreement and Appointment of Oz Adler to Board of Directors”. A copy of this press