FORM 11
NOTICE OF PROPOSED STOCK OPTION GRANT OR AMENDMENT
Name of Listed Issuer: IM Cannabis Corp. (the "Issuer").
Trading Symbol: IMCC
Date: October 6, 2021
1. New Options Granted:
Date of Grant: September 27, 2021
| Position | ||||||
| (Director/ | ||||||
| Officer/ | No. of | |||||
| Employee/ | Options | |||||
| Consultant/ | Insider | No. of | Granted in | |||
| Management | Yes or | Optioned | Exercise | Expiry | Past 12 | |
| Name of Optionee | Company | No? | Shares | Price | Date | Months |
| Employees and Consultants of the Issuer | Employees and Consultants | No | 29,000 | $4.50 | September 27, 2026 | 322,750 |
Total Number of optioned shares proposed for acceptance: 29,000
2. Other Presently Outstanding Options:
| Name of Optionee | No. of Optioned Shares(1) |
Exercise Price |
Original Date of Grant |
Expiry Date |
| Directors and Officers of the Issuer | 1,168,715 | $5.87 | May 19, 2021 | May 19, 2026 |
| Employees and Consultants of the Issuer | 299,750 | $5.87 | May 19, 2021 | May 19, 2026 |
| Directors and/or Officers of a Subsidiary | 520,000 | $10.02 | March 18, 2021 | March 18, 2026 |
| Employees and/or Consultants of a Subsidiary | 180,000 | $10.02 | March 18, 2021 | March 18, 2026 |
| Directors and/or Officers of the Issuer | 180,000 | $10.00 | February 28, 2021 | February 28, 2026 |
| Employees and/or Consultants of the Issuer | 5,500 | $10.00 | February 8, 2021 | February 8, 2026 |
| Employees and/or Consultants of the Issuer | 13,750 | $8.56 | December 15, 2020 | December 15, 2025 |
| Employees and/or Consultants of a Subsidiary | 25,000 | $7.12 | October 23, 2020 | October 23, 2025 |
| Employees and/or Consultants of the Issuer | 3,750 | $7.12 | October 23, 2020 | October 23, 2025 |
| Employees and/or Consultants of the Issuer | 13,750 | $5.80 | July 17, 2020 | July 17, 2025 |
| Employees and/or Consultants of the Issuer | 241,250 | $4.00 | June 9, 2020 | June 9, 2025 |
| Employees and/or Consultants of a Subsidiary | 31,250 | $4.00 | June 9, 2020 | June 9, 2025 |
| Directors and/or Officers of the Issuer | 287,500 | $4.00 | June 9, 2020 | June 9, 2025 |
| Employees and/or Consultants of the Issuer | 242,475 | $1.60 | October 11, 2019 | January 4, 2029 |
| Directors and/or Officers of the Issuer | 550,000 | $1.60 | October 11, 2019 | January 4, 2029 |
| Employees and/or Consultants of the Issuer | 105,000 | $1.60 | October 11, 2019 | September 11, 2029 |
| Directors and/or Officers of the Issuer | 925,000 | $1.60 | October 11, 2019 | September 11, 2029 |
| Employees and/or Consultants of the Issuer | 12,501 | $1.60 | October 11, 2019 | February 3, 2029 |
| Directors and/or Officers of the Issuer | 62,500 | $1.60 | October 11, 2019 | April 7, 2029 |
| Employees and/or Consultants of the Issuer | 2,500 | $1.60 | October 11, 2019 | May 13, 2029 |
| Employees and/or Consultants of the Issuer | 62,500 | $1.60 | October 11, 2019 | August 11, 2029 |
| Directors and/or Officers of a Subsidiary | 37,500 | $1.60 | October 11, 2019 | July 30, 2029 |
| Employees and/or Consultants of the Issuer | 4,000 | $4.20 | October 11, 2019 | October 9, 2022 |
(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. July 28, 2021
(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. 7.407%
(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. 67,544,445 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. 1,751,253
(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.
October 6, 2021.
| Oren Shuster |
| Name of Director or Senior Officer |
| "Oren Shuster" |
| Signature |
| Chief Executive Officer |
| Official Capacity |