February 16, 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 i) gross cash proceeds of US$632,247.50 and ii) settlement of US$36,935 in debt owed by the Company for aggregate deemed consideration of $669,182.50 in connection with the issuance of 535,346 common shares in the capital of the Company and 535,346 common share purchase warrants of the Company. The common shares and warrants were issued pursuant to the closing of the fifth 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 February 16, 2023.

 

Yours truly,

IM Cannabis Corp.

“Oren Shuster”

Oren Shuster

Chief Executive Officer