IM Cannabis stock rises as CEO buys 150K shares

Apr. 12, 2022 8:51 AM ETIM Cannabis Corp. (IMCC)By: Preeti Singh, SA News Editor

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  • IM Cannabis (NASDAQ:IMCC) shares climbed ~11% Tuesday morning on disclosure that founder, CEO and director Oren Shuster purchased 150K common shares in the capital of IMCC.
  • The shares were acquired in a series of open market transactions between April 5 and 8, 2022 at an average price of US$2.238/share for an aggregate purchase price of $335.73K. They were purchased for general investment purposes only.
  • As a result of the transaction, Shuster holds beneficial ownership of 9,285,137 common shares, representing ~13.32% of the issued and outstanding common shares on a non-diluted basis and 14.93% of the common shares on a partially diluted basis.
  • The resulting change in Shuster's share ownership position is above 2% from his last early warning report (filed on Oct 16, 2019) that showed beneficial ownership of 25.07% of the then issued and outstanding common shares on a non-diluted basis.

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