On March 18, 2021, IM Cannabis Corp. ("IMC") (CSE: IMCC) (NASDAQ: IMCC) announced the closing of its acquisition of Trichome Financial Corp. ("Trichome"), previously announced on December 30, 2020. The acquisition was completed pursuant to a plan of arrangement under the Business Corporations Act (Ontario).
IMC is a multi-country operator ("MCO") in the medical cannabis sector with operations in Israel, Germany and Canada. As a result of this acquisition, IMC will enter the Canadian recreational cannabis market and launch its North American expansion strategy through Trichome's wholly-owned subsidiary, Trichome JWC Acquisition Corp. d/b/a JWC. IMC seeks to establish itself as a global leader in the adult-use recreational and medical cannabis sectors.
Gowling WLG advised IMC with respect to this acquisition with a team that included Peter Simeon, Jacob Cawker, Josh Almario, Ryan Cohen and Adam Sherman (corporate) and Paul Carenza (tax), assisted by student-at-law Blair Somerville.