IM Cannabis to sell European assets
- IM Cannabis (NASDAQ:IMCC) has signed a non-binding letter of intent to sell its European subsidiary, IMC Holdings, to Slil.com Holding, an entity controlled by the company’s CEO, Oren Shuster.
- The transaction involves Slil assuming approximately C$10.5 million in debt, aimed at improving IM Cannabis's balance sheet, working capital, and cash flow.
- Following the potential sale, IM Cannabis plans to streamline its operations by focusing exclusively on its core Israeli medical cannabis market.
IM Cannabis (NASDAQ:IMCC) announced on June 18, 2026, that it has entered into a non-binding letter of intent to sell its European-focused subsidiary, IMC Holdings, to Slil.com Holding.
The purchasing entity, Slil.com Holding, is a private Israeli company beneficially owned and controlled by the company’s Chief Executive Officer, Oren Shuster.
Under the terms of the agreement, Slil would assume approximately C$10.5 million in debt, which includes C$7.5 million in retained liabilities and C$3.0 million in short-term liabilities.
Because the transaction involves the CEO, who is also a director and debtholder, it is classified as a related-party transaction under Multilateral Instrument 61-101, necessitating an independent special committee review and the engagement of Beta Finance T.Y.S to assess fairness.
IM Cannabis is a medical cannabis company with operations primarily based in Israel and Germany, currently working to achieve sustainable profitability through cost management.
The company retains its core Israeli subsidiaries, including Focus Medical Herbs and R.A. Yarok Pharm, as it seeks to concentrate its resources on its home market.
