Trichome Financial Corp. Shareholders Approve Plan of Arrangement with IM Cannabis Corp.
TORONTO, ON / ACCESSWIRE / March 15, 2021 / Trichome Financial Corp. (the “Company” or “Trichome Financial”) (CSE:TFC)(OTC PINK:TRICF) is pleased to announce that at a special meeting of shareholders held earlier today (the “Meeting”), Trichome Financial shareholders voted in favour of the proposed transaction pursuant to which IM Cannabis Corp. (“IMC”) agreed to acquire all of the issued and outstanding common shares of Trichome Financial by way of a plan of arrangement (the “Arrangement”). The Arrangement was approved by 100% of the votes cast by all of the Trichome Financial shareholders eligible to vote at the meeting.
Completion of the Arrangement remains conditional on approval by the Ontario Superior Court of Justice, Commercial List and certain other closing conditions customary for transactions of this nature. Subject to obtaining such court approval and the satisfaction or waiver of all other closing conditions, it is anticipated that the Arrangement will be completed on or about March 18, 2021. Upon completion of the Arrangement, the shares of Trichome Financial will be delisted from the Canadian Securities Exchange. Shareholders of Trichome Financial will receive 0.24525 shares of IMC, which trade on the NASDAQ Capital Market and the Canadian Securities Exchange under the ticker “IMCC”.
About IM Cannabis Corp.
IMC is an MCO in the medical cannabis sector headquartered in Israel and with operations In Israel and Germany. Over the past decade, the Company believes that the IMC brand has become synonymous with quality and consistency in the Israeli medical cannabis market. The Company has also expanded its business to offer intellectual property-related services to the medical cannabis industry.
In Europe, IMC operates through Adjupharm GmbH, a German-based subsidiary and EU-GMP certified medical cannabis distributor. IMC’s European presence is augmented by strategic alliances with various pan-European EU-GMP cultivators and distributors to capitalize on the increased demand for medical cannabis products in Europe and bring the IMC brand and its product portfolio to European patients.
About Trichome Financial Corp.
Trichome Financial is a specialty finance company focused on providing flexible and creative capital solutions to the global legal cannabis market. Trichome was created to address the lack of credit availability in the large, growing and increasingly complex cannabis market. Trichome Financial’s experienced founders and management team have a unique edge to capitalize on proprietary deal flow and industry insight in order to drive the best risk-adjusted returns on shareholder’s capital. With the recent acquisition of the assets of James E. Wagner Cultivation Corp., Trichome Financial is focused on acquiring related assets to compliment JWC and leverage the knowledge, expertise and insights of its employees, management and founders.
For further information about Trichome please visit us at www.trichomefinancial.com or @trichomefinance on Twitter and refer to the joint information circular of Trichome and 22 Capital dated May 29, 2019 which is available on the Trichome’s SEDAR profile at www.sedar.com.
Michael Ruscetta, CEO
Telephone: (416) 467-5229
Marc Charbin, Investor Relations
Telephone: (416) 467-5229