IM Cannabis Corp. (NASDAQ: IMCC ) on Monday agreed to divest its subsidiary IMC Holdings Ltd. to Slil.com Holding Ltd.
The strategic transaction seeks to reduce total corporate liabilities, strengthen working capital, and refine operational focus back onto its core Israeli medical cannabis business.
• IM Cannabis shares are sliding. Why is IMCC stock falling?
Reorganization Structure and Transaction Terms
Before closing, the company will undergo a corporate reorganization to transfer out and retain all Israeli medical cannabis assets.
IMC Holdings Ltd. will hold equity interests in Adjupharm GmbH, Xinteza API Ltd., and Shiran Societe Anonyme, alongside specific retained liabilities, before shifting ownership entirely to Slil.
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3 min read Read this articleConsideration for the deal includes 3 million Canadian dollars (around $2.16 million) in advance cash payments already received, alongside Slil’s assumption of up to CA$9.4 million in retained debt. Management estimates the deal will enhance shareholders’ equity by approximately CA$3 million.
Latest Private Market Opportunities Join 400,000+ InvestorsNo securities of the parent company or subsidiary are being issued or exchanged as part of the transaction .
Financial Hardship Exemption and Governance
The agreement constitutes a related-party transaction because Slil is controlled by Oren Shuster, CEO, director and debtholder of the parent firm.
Citing severe financial difficulty, the company is relying on financial hardship exemptions under Canadian securities regulations to bypass formal valuation and minority shareholder voting requirements.
A board-appointed special committee of independent directors retained Beta Finance T.Y.S Ltd. to conduct a financial analysis evaluating fairness. Subject to customary tax certificates and approvals, closing is slated to occur before Sept. 30, 2026.
IMCC Stock Price Activity: IM Cannabis shares were down 15.89% at 10 cents at the time of publication Monday, according to Benzinga Pro data .
Image via Shutterstock
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