IM Cannabis Raised US$550,000 of Gross Proceeds in Convertible Note Financings

TORONTO and GLIL YAM, Israel, May 7, 2026 /PRNewswire/ -- IM Cannabis Corp. ("IMC" or the "Company") (Nasdaq: IMCC), a medical cannabis company with operations in Israel and Germany, today announced the closing of a US$300,000 convertible note financing in a private placement with an institutional investor, bringing the total gross proceeds raised in recent similar financings to US$550,000. First Note Pursuant to a note purchase agreement between the Company and Lender dated April 6, 2026 (the "First Note Purchase Agreement"), the Company issued the Lender a note in the principal amount of US$250,000, with an original issuance discount of 10% (the "First Note").