January 30, 2023
Canadian Securities Exchange
First Canadian Place
100 King Street West, Suite 7210
Toronto, ON M5X 1E1
To Whom It May Concern:
Re: IM Cannabis Corp. (the “Company”) private placements of common shares and warrants
The Company hereby confirms receipt of value in the form of gross cash proceeds of US$1,452,500 in connection with the issuance of
1,162,000 common shares in the capital of the Company and 1,162,000 common share purchase warrants of the Company. The common shares and warrants were issued pursuant to the closing of the third tranche of a listed issuer financing exemption
offering as disclosed in the Company’s press release and Form 9 – Notice of Proposed Issuance of Listed Securities filed with the Canadian
Securities Exchange dated January 30, 2023.
IM Cannabis Corp.
Chief Executive Officer