IM Cannabis Shareholder Rafael Gabay raises stake

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• IM Cannabis (NASDAQ:IMCC) Shareholder Rafael Gabay acquired an aggregate of 613,496 shares in the company at a price of $0.50 per share.
• The acquisition was a part of the company's non-brokered private placement of 4.9M shares for aggregate proceeds of $2.4M.
• Gabay, who held 8.1M shares, or 11.61% of the issued and outstanding shares, prior to the private placement, paid an aggregate cash consideration of $306K and now holds beneficial ownership of an aggregate of 8.7M shares, or ~ 11.67% of the issued and outstanding shares.
• Gabay has acquired the shares for general investment purposes.
• IMCC shares were trading +5.12% pre-market.
• Source: Press Release