Lygm – Environmental Projects Ltd. Files Early Warning Report with Respect to IM Cannabis Corp.
BEIT LECHEM HAGLILIT, ISRAEL, June 27, 2025 / EINPresswire.com / -- This press release is issued pursuant to Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
Lygm – Environmental Projects Ltd. (the 'Acquiror'), a privately held entity controlled by Ran Molho (the 'Joint Actor'), has acquired 575,461 common shares (the 'Common Shares') in the capital of IM Cannabis Corp. (the 'Company') on June 24, 2025, pursuant to the conversion of a debenture in the principal amount of $1,501,953.20 at a deemed price of C$2.61 per Common Share, maturing on May 26, 2026, (the 'Acquisition'). As a result of the Acquisition, the Acquiror, along with the Joint Actor, now owns and controls 10% or more of the Common Shares of the Company.
Immediately prior to the Acquisition, the Acquiror, along with the Joint Actor, beneficially owned, or exercised control and direction over, 130,210 Common Shares, and 129,705 warrants in the capital of the Issuer (each, a 'Warrant'), representing approximately 3.75% of the issued and outstanding Common Shares of the Issuer on an undiluted basis, and approximately 7.22% on a partially diluted basis.
Following the Acquisition, after acquiring an additional 575,461 Common Shares, the Acquiror now beneficially owns, or exercises control and direction over, 705,671 Common Shares and 129,705 Warrants, representing approximately 17.45% of the issued and outstanding Common Shares of the Issuer on an undiluted basis, and approximately 20.01% on a partially diluted basis.
The Common Shares that have been acquired by the Acquiror, together with any Common Shares acquired, held, directed, or controlled by the Joint Actor, are being held for investment purposes. In the future, the Acquiror and/or Joint Actor may, from time to time and depending on market and other conditions, acquire or dispose of additional Common Shares and/or other equity, debt, or other securities or instruments of the Issuer in market transactions, private agreements or otherwise, and reserves the right to engage in similar transactions with respect to the securities.
This news release is being issued under the warning provisions of Canadian securities legislation. A copy of the corresponding early warning report will be filed and made available under the Acquiror's profile on SEDAR+ at www.sedarplus.ca.
For more information, or to obtain a copy of the early warning report, please contact:
Ran Molho
Phone: +97249059397
E-mail: [email protected]
Ran Molho
Lygm – Environmental Projects Ltd.
+972 4-905-9397
email us here
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