FORM 11

NOTICE OF PROPOSED STOCK OPTION GRANT OR AMENDMENT

Name of Listed Issuer: IM Cannabis Corp. (the "Issuer").

Trading Symbol: IMCC

Date: March 4, 2021

1. New Options Granted:

Date of Grant: February 28, 2021

Name of Optionee

Position
(Director/
Officer/
Employee/
Consultant/
Management
Company

Insider
Yes or
No?

No. of
Optioned Shares

Exercise Price

Expiry Date

No. of
Options
Granted in
Past 12
Months

Haleli Barath

Director

Yes

90,000

$10.00

February 28, 2026

-

Brian Schinderle

Director

Yes

90,000

$10.00

February 28, 2026

-

Total Number of optioned shares proposed for acceptance: 180,000

 


2. Other Presently Outstanding Options:

 Name of Optionee

No. of Optioned
Shares(1)

Exercise
Price

Original Date of
Grant

 Expiry Date

Yuval Nachshon

5,500

$10.00

February 8, 2021

February 8, 2026

Shimrit Pitchon

2,500

$8.56

December 15, 2020

December 15, 2025

Yael Asael

5,000

$8.56

December 15, 2020

December 15, 2025

Dana Epstein

5,000

$8.56

December 15, 2020

December 15, 2025

Ishai Safian

3,750

$8.56

December 15, 2020

December 15, 2025

Olaf Rosenthal

12,500

$7.12

October 23, 2020

October 23, 2025

Christian Hauck

12,500

$7.12

October 23, 2020

October 23, 2025

Bar Abelis

3,750

$7.12

October 23, 2020

October 23, 2025

Stass Shliniik

10,000

$5.80

July 17, 2020

July 17, 2025

Shaked Shuster

3,750

$5.80

July 17, 2020

July 17, 2025

Yaron Berger

41,666

$4.00

June 9, 2020

June 9, 2025

Doron Reznik

125,000

$4.00

June 9, 2020

June 9, 2025

Tomer Oved

18,750

$4.00

June 9, 2020

June 9, 2025

Sivan Adler

3,750

$4.00

June 9, 2020

June 9, 2025

Yael Oz Carmon

22,500

$4.00

June 9, 2020

June 9, 2025

Anna Taranko

18,750

$4.00

June 9, 2020

June 9, 2025

Francesco Bisceglia

12,500

$4.00

June 9, 2020

June 9, 2025

Vivian Bercovici

90,000

$4.00

June 9, 2020

June 9, 2025

Refael Gabay

90,000

$4.00

June 9, 2020

June 9, 2025

Roy Kait

30,000

$4.00

June 9, 2020

June 9, 2025

Oren Shuster

62,500

$4.00

June 9, 2020

June 9, 2025

Rivka Stern

25,000

$4.00

June 9, 2020

June 9, 2025

Ben Brownstein

6,250

$4.00

June 9, 2020

June 9, 2025

Liat Mika Noy

1,250

$4.00

June 9, 2020

June 9, 2025

Yael Harrosh

37,500

$4.00

June 9, 2020

June 9, 2025

Sharon Karuz

1,250

$4.00

June 9, 2020

June 9, 2025

Amir Dvora

6,250

$4.00

June 9, 2020

June 9, 2025

Shai Shemesh

37,500

$4.00

June 9, 2020

June 9, 2025

Ziva Kampinsky

1,250

$4.00

June 9, 2020

June 9, 2025

Roy Kait

125,000

$1.60

October 11, 2019

January 4, 2029

Oren Shuster

500,000

$1.60

October 11, 2019

January 4, 2029

Rivka Stern

39,975

$1.60

October 11, 2019

January 4, 2029




Ryan Walsh

90,000

$1.60

October 11, 2019

September 11, 2029

Ben Brownstein

75,000

$1.60

October 11, 2019

January 4, 2029

Liat Mika Noy

12,500

$1.60

October 11, 2019

September 11, 2029

Marc Lustig

675,000

$1.60

October 11, 2019

September 11, 2029

Yael Harrosh

50,000

$1.60

October 11, 2019

January 4, 2029

Sharon Karuz

2,500

$1.60

October 11, 2019

January 4, 2029

Amir Dvora

50,000

$1.60

October 11, 2019

February 3, 2029

Shai Shemesh

62,500

$1.60

October 11, 2019

April 7, 2029

Ziva Kampinsky

2,500

$1.60

October 11, 2019

May 13, 2029

Keren Reuveni

7,500

$1.60

October 11, 2019

August 11, 2029

Mell Willson

7,500

$1.60

October 11, 2019

August 11, 2029

Lior Holtzman

4,998

$1.60

October 11, 2019

August 11, 2029

Shai Filo

7,500

$1.60

October 11, 2019

August 11, 2029

Ben Gabai

7,500

$1.60

October 11, 2019

August 11, 2029

Yoav Shiloni

7,500

$1.60

October 11, 2019

August 11, 2029

Aviv Ben-Ami

7,500

$1.60

October 11, 2019

August 11, 2029

Liz On

2,500

$1.60

October 11, 2019

August 11, 2029

Omri Tzadok

2,500

$1.60

October 11, 2019

August 11, 2029

Or Hilel

2,500

$1.60

October 11, 2019

August 11, 2029

Korin Avrahami

2,500

$1.60

October 11, 2019

August 11, 2029

Rotem Tzadok

2,500

$1.60

October 11, 2019

August 11, 2029

Nitzan Shalem

2,500

$1.60

October 11, 2019

August 11, 2029

Shai Goldin

2,500

$1.60

October 11, 2019

August 11, 2029

Oded Natan

1,666

$1.60

October 11, 2019

August 11, 2029

Richard Balla

37,500

$1.60

October 11, 2019

July 30, 2029

Steven Mintz

250,000

$1.60

October 11, 2019

September 11, 2029

Tehila Cohen

2,500

$1.60

October 11, 2019

September 11, 2029

Balu Gopalakrishnan

4,000

$4.20

October 11, 2019

October 9, 2022

LodeRock Advisors Inc.

50,000

$4.20

October 11, 2019

October 11, 2029

(1) Set out number of optioned shares for each grant with different terms.


3. Additional Information

(a) If shareholder approval was required for the grant of options (including prior approval of a stock option plan), state the date that the shareholder meeting approving the grant was or will be held. December 16, 2020

(b) State, as a percentage of the issued and outstanding shares of the Issuer indicated in (c) above, the aggregate number of shares that are subject to incentive stock options, including new options, amended options and other presently outstanding options. 7.40%

(c) State the date of the news release announcing the grant of options. N/A

(d) State the total issued and outstanding share capital at the date of grant or amendment. 40,204,518 common shares

(e) If the new options are being granted pursuant to a stock option plan, state the number of remaining shares reserved for issuance under the plan. 1,046,397

(f) If the Issuer has completed a public distribution of its securities within 90 days of the date of grant, state the per share price paid by the public investors. N/A

(g) Describe the particulars of any proposed material changes in the affairs of the Issuer. N/A


4. Certificate of Compliance

The undersigned hereby certifies that:

1. The undersigned is a director and/or senior officer of the Issuer and has been duly authorized by a resolution of the board of directors of the Issuer to sign this Certificate of Compliance.

2. As of the date hereof there is no material information concerning the Issuer which has not been publicly disclosed.

3. The undersigned hereby certifies to the Exchange that the Issuer is in compliance with the requirements of applicable securities legislation (as such term is defined in National Instrument 14-101) and all Exchange Requirements (as defined in CNSX Policy 1).

4. All of the information in this Form 11 Notice of Proposed Stock Option Grant or Amendment is true.

Dated March 4, 2021.

Oren Shuster                                   

Name of Director or Senior Officer

"Oren Shuster"                               
Signature

Chief Executive Officer                 
Official Capacity