Liquidation: IM Cannabis Corp.

Form Type: 20-F

Filing Date: 2025-03-31

Corporate Action: Liquidation

Type: New

Accession Number: 000117891325001126

Filing Summary: On January 8, 2025, the Israeli Companies Registrar approved the liquidation status of IM Cannabis Corp., which will be completed 100 days from the approval date. Additionally, on January 13, 2025, further approval for liquidation was received. The company has recorded various financial transactions leading up to the decision including significant loans and management fees. Notably, IMC Holdings exercised an option to acquire 74% of the voting rights in Focus on February 26, 2024, with plans to acquire the remaining 26% pending organizational and regulatory approvals. The licenses representing operations in Germany are noted to have an indefinite useful life and various financial metrics related to shareholders are outlined.