Exhibit 99.1

FORM 11
 
NOTICE OF PROPOSED STOCK OPTION GRANT OR AMENDMENT

Name of Listed Issuer: IM Cannabis Corp. (the “Issuer”). Trading Symbol: IMCC
 
Date: May 30, 2023


 1.
New Options Granted:
 
Date of Grant: May 16, 2023
 
 
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
Officer and/or Director of the Issuer
Officer
Yes
3,000
$1.10
 May 16, 2028
18,000(1)


(1)
Grant to Directors in September 2022.

Total Number of optioned shares proposed for acceptance: 3,000.

FORM 11 – NOTICE OF PROPOSED STOCK OPTION GRANT
OR AMENDMENT

January 2015
Page 1


2.
Other Presently Outstanding Options:

 
Name of Optionee
No. of Optioned
Shares(1)
Exercise
Price
Original Date of
Grant
 
Expiry Date
Employees and/or Consultants of the Issuer
2,000
$2.37
November 7, 2022
November 7, 2027
Employees and/or Consultants of the Issuer
650
$6.00
September 19, 2022
September 19, 2027
Directors and/or Officers of the Issuer
18,000
$6.00
September 19, 2022
September 19, 2027
Employees and/or Consultants of a Subsidiary
1,600
$12.10
June 6, 2022
June 6, 2027
Employees and/or Consultants of the Issuer
550
$27.30
April 4, 2022
April 4, 2027
Employees and/or Consultants of a Subsidiary
1,350
$27.30
April 4, 2022
April 4, 2027
Directors and/or Officers of the Issuer
5,000
$27.30
April 4, 2022
April 4, 2027
Employees and/or Consultants of a Subsidiary
350
$46.20
December 27, 2021
December 27, 2026
Employees and/or Consultants of the Issuer
950
$45.00
September 27, 2021
September 27, 2026
Directors and Officers of the Issuer
98,871
$58.70
May 19, 2021
May 19, 2026
Employees and Consultants of the Issuer
20,625
$58.70
May 19, 2021
May 19, 2026
Directors and/or Officers of the Issuer
18,000
$100.00
February 28, 2021
February 28, 2026
Employees and/or Consultants of the Issuer
550
$100.00
February 8, 2021
February 8, 2026
Employees and/or Consultants of the Issuer
500
$85.60
December 15, 2020
December 15, 2025
Employees and/or Consultants of a Subsidiary
2,500
$71.20
October 23, 2020
October 23, 2025
Employees and/or Consultants of the Issuer
375
$58.00
July 17, 2020
July 17, 2025
Employees and/or Consultants of the Issuer
18,750
$40.00
June 9, 2020
June 9, 2025
Employees and/or Consultants of a Subsidiary
3,125
$40.00
June 9, 2020
June 9, 2025
Directors and/or Officers of the Issuer
15,250
$40.00
June 9, 2020
June 9, 2025
Employees and/or Consultants of the Issuer
13,372
$16.00
October 11, 2019
January 4, 2029
Directors and/or Officers of the Issuer
55,000
$16.00
October 11, 2019
January 4, 2029
Employees and/or Consultants of the Issuer
10,000
$16.00
October 11, 2019
September 11, 2029
Directors and/or Officers of the Issuer
67,500
$16.00
October 11, 2019
September 11, 2029
Employees and/or Consultants of the Issuer
250
$16.00
October 11, 2019
May 13, 2029
Employees and/or Consultants of the Issuer
5,500
$16.00
October 11, 2019
August 11, 2029
Directors and/or Officers of a Subsidiary
3,750
$16.00
October 11, 2019
July 30, 2029
 
(1) Set out number of optioned shares for each grant with different terms.

FORM 11 – NOTICE OF PROPOSED STOCK OPTION GRANT
OR AMENDMENT

January 2015
Page 2


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 the date of the news release announcing the grant of options. N/A
 

 (c)
State the total issued and outstanding share capital at the date of grant or amendment. 13,389,551 common shares.
 

 (d)
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. 2.623%
 

 (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. 987,631
 

 (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
 
FORM 11 – NOTICE OF PROPOSED STOCK OPTION GRANT
OR AMENDMENT

January 2015
Page 3


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.

May 30, 2023.
Oren Shuster
Name of Director or Senior Officer
 
“Oren Shuster”
Signature

Chief Executive Officer
Official Capacity

FORM 11 – NOTICE OF PROPOSED STOCK OPTION GRANT
OR AMENDMENT

January 2015
Page 4