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IM Cannabis Enters Non-Binding Agreement to Acquire 51% of Space Defense Innovations, Operating in the European Tactical UAS Market

IMCC
  • IM Cannabis Corp. (Nasdaq: IMCC) entered a non-binding Letter of Intent to acquire 51% of Space Defense Innovations LLC (SDI) equity on a fully diluted basis.
  • SDI distributes BlueBird Aero Systems' tactical UAS & Hybrid Fixed-Wing VTOL-UAS platforms in Europe with exclusivity in Poland.
  • SDI operates via its subsidiary BlueAero Group Sp. z o.o. as a reseller expected to become a manufacturer upon receiving regulatory licenses.
  • The transaction aligns with IMCC's objective to build technology-driven businesses beyond its core medical cannabis operations in Israel & Germany.
  • IMCC will acquire the stake for common shares (capped to prevent any single shareholder from exceeding 19.99% of IMCC) &/or pre-funded warrants.
  • The deal includes a 24-month seller loan bearing 9% annual interest with 100% warrant coverage exercisable at a 25% premium.
  • IMCC will receive a five-year call option to acquire remaining SDI shares, the right to appoint a board majority, & an on-demand EUR 2.3 million credit line convertible into SDI shares.
  • The parties aim to execute definitive agreements within 60 days subject to due diligence, approvals, & other customary conditions.
  • Closing is not assured & remains subject to satisfactory due diligence at IMCC's sole discretion.
  • IMCC expects to retain Israeli medical cannabis operations while selling German operations following pending transactions announced in August 2026.