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Trichome Financial Corp. has successfully closed its combination with IM Cannabis Corp. following approval from the Ontario Superior Court of Justice. Under the terms of the arrangement, shareholders of Trichome will receive 0.24525 common shares of IM Cannabis for each common share of Trichome. Consequently, Trichome Financial's shares will be delisted from the Canadian Securities Exchange. IM Cannabis is actively operating in the medical cannabis sector across multiple countries, including Israel and Germany, and aims to expand its European presence.
Trichome Financial Corp. announced that shareholders voted unanimously in favor of the acquisition by IM Cannabis Corp. through a plan of arrangement. The arrangement, anticipated for completion around March 18, 2021, will see Trichome's shares delisted from the Canadian Securities Exchange. Shareholders will receive 0.24525 shares of IMC for each Trichome share. The deal remains subject to approval from the Ontario Superior Court and other closing conditions.
Trichome Financial Corp. (CSE:TFC, OTC PINK:TRICF) updated the exchange ratio related to its agreement with IM Cannabis Corp. (IMCC), announced on February 12, 2021. Following IMCC's share consolidation of 1:4, the revised consideration for Trichome shareholders will now be 0.24525 IMCC shares for each Trichome share. A special meeting for Trichome shareholders is scheduled for March 15, 2021, to approve the transaction, with required regulatory approvals anticipated by March 17, 2021.
