IM Cannabis signs LOI for 51% SDI stake

• IM Cannabis (NASDAQ:IMCC) signed a non-binding letter of intent to acquire 51% of Space Defense Innovations, a Poland-based unmanned aerial systems company.
• The proposed transaction would expand IM Cannabis into the European UAS market through SDI subsidiary BlueAero Group.
• The agreement remains subject to due diligence, definitive agreements, and required regulatory approvals.

IM Cannabis (NASDAQ:IMCC) signed a non-binding letter of intent to acquire 51% of Space Defense Innovations (SDI), a Poland-based company operating in the European unmanned aerial systems market.

The proposed transaction would give IM Cannabis exposure to SDI subsidiary BlueAero Group, which distributes and expects to manufacture BlueBird Aero Systems tactical UAS products in Europe.

IM Cannabis plans to pay for the stake using common shares and/or pre-funded warrants, with ownership limits designed to prevent any SDI shareholder from exceeding 19.99% ownership of IM Cannabis, alongside a 24-month seller loan at 9% interest.

SDI distributes BlueBird Aero Systems’ tactical UAS and Hybrid Fixed-Wing VTOL-UAS products and is expected to manufacture these systems in Europe subject to obtaining required licenses.

IM Cannabis will receive a five-year call option to acquire the remaining SDI shares and the right to appoint a majority of SDI’s board, while the transaction remains subject to completion conditions.