<SEC-DOCUMENT>0001178913-22-001085.txt : 20220315
<SEC-HEADER>0001178913-22-001085.hdr.sgml : 20220315
<ACCEPTANCE-DATETIME>20220315085844
ACCESSION NUMBER:		0001178913-22-001085
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20220315
FILED AS OF DATE:		20220315
DATE AS OF CHANGE:		20220315

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IM Cannabis Corp.
		CENTRAL INDEX KEY:			0001792030
		STANDARD INDUSTRIAL CLASSIFICATION:	MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40065
		FILM NUMBER:		22739267

	BUSINESS ADDRESS:	
		STREET 1:		1 ADELAIDE STREET EAST, UNIT 801
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5C 2V9
		BUSINESS PHONE:		416-256-4202

	MAIL ADDRESS:	
		STREET 1:		1 ADELAIDE STREET EAST, UNIT 801
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5C 2V9
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>zk2227482.htm
<DESCRIPTION>6-K
<TEXT>
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      <div style="text-align: center; line-height: 1.25;"><font style="font-size: 14pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">UNITED STATES</font><font style="font-size: 14pt; font-family: 'Times New Roman',Times,serif;"><br>
        </font><font style="font-size: 14pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font><br>
        Washington, D.C. 20549<br>
        <br>
        <font style="font-size: 14pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Form 6-K</font><br>
        <br>
        <font style="font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16</font><br>
        <font style="font-weight: bold;">UNDER THE SECURITIES EXCHANGE ACT OF 1934</font></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">For the month of <font style="font-weight: bold;"><u>March 2022</u></font>.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">Commission File Number: <font style="font-weight: bold;"><u>001-40065</u></font></div>
      <div style="text-align: center; line-height: 1.25;"><br>
        <font style="font-size: 16pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>IM Cannabis Corp.</u></font><br>
        (Exact Name of Registrant as Specified in Charter)<br style="line-height: 1.25;">
        <br>
        <font style="font-weight: bold;"><u>Kibbutz Glil Yam, Central District, Israel 4690500</u></font><br>
        (Address of principal executive offices)</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25;">Form 20-F&#160; <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font>&#160; Form 40-F &#9746;</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;"><font style="font-weight: bold;">Note</font>: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security
        holders.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;"><font style="font-weight: bold;">Note</font>: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant
        foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on
        which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already
        been the subject of a Form 6-K submission or other Commission filing on EDGAR.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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      <div style="text-align: center; line-height: 1.25; font-weight: bold;">SIGNATURE</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
        authorized.</div>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z42cee5d8805c4b0b8459a175c2b4dd6d" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 41.52%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 50.96%; vertical-align: middle;" colspan="2">
              <div style="line-height: 1.25; font-weight: bold;">IM CANNABIS CORP.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 7.51%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 41.52%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 50.96%; vertical-align: middle;" colspan="2">
              <div style="line-height: 1.25;">(Registrant)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 7.51%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 41.52%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 6.43%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 44.53%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" rowspan="1" style="width: 7.51%; vertical-align: middle;">
              <div style="line-height: 1.25;">Date: March 15, 2022</div>
            </td>
            <td style="width: 6.43%; vertical-align: middle;">
              <div style="line-height: 1.25;">By:</div>
            </td>
            <td style="width: 44.53%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-style: italic;">/s/ Oren Shuster</div>
            </td>
          </tr>
          <tr>
            <td style="width: 7.51%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 41.52%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 6.43%; vertical-align: middle;">
              <div style="line-height: 1.25;">Name:</div>
            </td>
            <td style="width: 44.53%; vertical-align: middle;">
              <div style="line-height: 1.25;">Oren Shuster</div>
            </td>
          </tr>
          <tr>
            <td style="width: 7.51%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 41.52%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 6.43%; vertical-align: middle;">
              <div style="line-height: 1.25;">Title:</div>
            </td>
            <td style="width: 44.53%; vertical-align: middle;">
              <div style="line-height: 1.25;">Chief Executive Officer and Director</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;"><u>EXHIBIT INDEX</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z8a42306f400148b48294757d33125179" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

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            <td style="width: 10%; vertical-align: middle;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="exhibit_99-1.htm">99.1</a></div>
            </td>
            <td style="width: 90%; vertical-align: middle;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="exhibit_99-1.htm">News Release dated March 15, 2022</a></div>
            </td>
          </tr>
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            <td style="width: 10%; vertical-align: middle;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="exhibit_99-2.htm">99.2</a></div>
            </td>
            <td style="width: 90%; vertical-align: middle;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="exhibit_99-2.htm">Form 9 &#8211; Notice of Issuance or Proposed Issuance of Listed
                  Securities dated March 15, 2022</a></div>
            </td>
          </tr>
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            <td style="width: 10%; vertical-align: middle;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="exhibit_99-3.htm">99.3</a></div>
            </td>
            <td style="width: 90%; vertical-align: middle;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><a href="exhibit_99-3.htm">Form 9 &#8211; Notice of Issuance or Proposed Issuance of Listed
                  Securities dated March 15, 2022</a></div>
            </td>
          </tr>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit_99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: right; line-height: 1.25; font-weight: bold;"><u>Exhibit 99.1</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">IM Cannabis Closes Three Previously Announced Strategic</div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"> Acquisitions in Israel</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25; font-style: italic;">All Requisite Approvals Received by Company to Complete Vironna, Pharm Yarok,</div>
      <div style="text-align: center; line-height: 1.25; font-style: italic;"> and Panaxia Transactions</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;"><font style="font-weight: bold;">Toronto, Canada and Glil Yam, Israel &#8211; March 15, 2022 &#8211;</font>&#160;<u>IM Cannabis Corp</u>. (the &#8220;<font style="font-weight: bold;">Company</font>&#8221; or &#8220;<font style="font-weight: bold;">IM Cannabis</font>&#8221;) (CSE: IMCC) (NASDAQ: IMCC), a leading medical and adult-use recreational cannabis company with operations in Israel, Canada, and Germany, has completed three strategic acquisitions announced in
        2021.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">The acquisitions were completed through IMC Holdings Ltd. (&#8220;<font style="font-weight: bold;">IMC Holdings</font>&#8221;), a wholly-owned subsidiary of IM Cannabis Corp. and I.M.C Pharma Ltd. (&#8220;<font style="font-weight: bold;">IMC Pharma</font>"), IMC Holdings&#8217; wholly-owned subsidiary, following receipt of all requisite approvals, including from the Israeli Medical Cannabis Unit (&#8220;<font style="font-weight: bold;">IMCU</font>&#8221;).</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">&#8220;Each of these strategic acquisitions are key progress points for our Israeli and global expansion strategy,&#8221; said Oren Shuster, Chief Executive Officer of IM Cannabis. &#8220;Our business model enables
        IM Cannabis to oversee the entire supply chain and ensure that the procurement and movement of quality supplies across our Israeli, German, and Canadian operations are done efficiently while providing our customers with premium quality cannabis.
        The positive reputation we have built in the industry is reflected in our increasing customer satisfaction and consumption levels.&#8221;</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-weight: bold;">Transaction Details</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">All amounts below are in Canadian dollars unless otherwise stated.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25; font-style: italic;">Vironna</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">IMC Holdings successfully completed the acquisition of 51% of the outstanding ordinary shares of Revoly Trading and Marketing Ltd., dba Vironna<font style="font-weight: bold;">&#160;</font>(&#8220;<font style="font-weight: bold;">Vironna</font>&#8221;), as first announced on August 16, 2021 (the &#8220;<font style="font-weight: bold;">Vironna Transaction</font>&#8221;). Vironna ranks among the top 10 single cannabis dispensing points in Israel and is one of the
        largest pharmacies in Israel serving the rapidly growing Arab consumer segment of the medical cannabis market. The total consideration for the Vironna Transaction was NIS 8.5 million (approximately $3.33 million<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>),
        of which NIS 5 million (approximately $1.96 million) was paid in cash and NIS 3.5 million (approximately $1.37 million) was paid in common shares of IM Cannabis. For satisfaction of the cash consideration component, NIS 3.75 million (approximately
        $1.47 million) was paid at signing of the definitive agreement and the remaining NIS 1.25 million (approximately $490,000) will be paid post-closing of the Vironna Transaction (the &#8220;<font style="font-weight: bold;">Vironna Closing Date</font>&#8221;). In
        satisfaction of the share consideration component, the Company issued 485,362&#160;common shares at a deemed issue price of US$2.209 per share (approximately $2.809<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>), calculated based on the average closing price of the common shares of the
        Company on the Nasdaq Capital Market (&#8220;<font style="font-weight: bold;">Nasdaq</font>&#8221;) for the 14 trading day period immediately preceding Vironna Closing Date. The shares issued to Vironna are subject to a staggered three-month lockup commencing
        on the Vironna Closing Date.</div>
      <div style="line-height: 1.25;"><br>
        <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;">
        <div style="line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> All NIS to CAD conversions are based on the Bank of Israel exchange rate on March 11, 2022 of NIS 2.554 = C$1.</div>
        <div style="line-height: 1.25;">
          <div style="line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> All USD to CAD conversions are based on the Bank of Canada exchange rate on March 11, 2022 of US$1 = C$1.272.</div>
        </div>
      </div>
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      <div style="text-align: justify; line-height: 1.25; font-style: italic;">Pharm Yarok</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">In addition to the Vironna Transaction, IMC Holdings completed the acquisition of all the outstanding ordinary shares of (1) R.A. Yarok Pharm Ltd. (&#8220;<font style="font-weight: bold;">Pharm Yarok</font>&#8221;),
        a leading medical cannabis pharmacy located in central Israel; and (2) Rosen High Way Ltd. (&#8220;<font style="font-weight: bold;">Rosen High Way</font>&#8221;), a trade and distribution centre with an IMC-GDP license that provides medical cannabis storage,
        distribution services and logistics solutions for cannabis companies and pharmacies in Israel (collectively, the &#8220;<font style="font-weight: bold;">Pharm Yarok Transaction</font>&#8221;), as first announced by the Company on July 28, 2021. The acquisition
        of the outstanding ordinary shares of High Way Shinua Ltd. (&#8220;<font style="font-weight: bold;">HW Shinua</font>&#8221;), an applicant for a medical cannabis transportation license, is pending receipt of the requisite approval from the IMCU.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">The aggregate cash consideration for the Pharm Yarok Transaction was NIS 11.9 million (approximately $4.6 million), of which NIS 8.4 million (approximately $3.3 million) was paid at signing of the
        definitive agreements and the remaining NIS 3.5 million (approximately $1.3 million) paid at closing. In connection with closing of the Pharm Yarok Transaction, the Company completed a non-brokered private placement with former shareholders of
        Pharm Yarok and Rosen High Way. A total of 523,700 common shares were issued at a deemed price of $2.616 for aggregate proceeds of $1,369,999.20. The calculation of the deemed price was based on the average closing price of IM Cannabis&#8217; common
        shares on the Canadian Securities Exchange (the &#8220;<font style="font-weight: bold;">CSE</font>&#8221;) over the 8 trading day period immediately preceding March 14, 2022. The proceeds from the private placement will be used for working capital purposes.
        None of the subscribers were Related Persons of the Company, as such term is defined under the policies of the CSE.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25; font-style: italic;">Panaxia</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">Lastly, IMC Holdings received the requisite IMCU approval to acquire an IMC-GDP license for distribution of medical cannabis (the &#8220;<font style="font-weight: bold;">Panaxia</font>&#160;<font style="font-weight: bold;">GDP License Closing</font>&#8221;) from Panaxia Pharmaceutical Industries Israel Ltd. and Panaxia Logistics Ltd., part of the Panaxia Labs Israel, Ltd. group of companies (collectively, &#8220;<font style="font-weight: bold;">Panaxia</font>&#8221;).

        The license was acquired pursuant to the definitive agreement first announced by the Company on April 30, 2021 (the &#8220;<font style="font-weight: bold;">Panaxia Transaction</font>&#8221;) and assigned to IMC Pharma in accordance with its terms. The
        aggregate consideration for the Panaxia Transaction was NIS 18.7 million (approximately $7.2 million), of which NIS 7.6 million (approximately $2.9 million) was paid in two cash instalments and NIS 11.1 million (approximately $4.3 million) payable
        in common shares of IM Cannabis (&#8220;<font style="font-weight: bold;">Panaxia</font>&#160;<font style="font-weight: bold;">Consideration Shares</font>&#8221;).</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">To satisfy the share consideration component of the Panaxia Transaction, the Company has issued a total of four instalments of Panaxia Consideration Shares, as announced by the Company on August 9,
        2021, September 8, 2021, October 20, and November 16, 2021. The fifth and final installment of Consideration Shares will be issued following the Panaxia GDP License Closing. The Panaxia Transaction includes a further option to acquire for no
        additional consideration a pharmacy from Panaxia, including requisite licenses to dispense and sell medical cannabis to patients, that the Company has exercised (&#8220;<font style="font-weight: bold;">Panaxia Pharmacy Closing</font>&#8221;). The Panaxia
        Pharmacy Closing is expected to occur in Q3 2022.</div>
      <div style="text-align: justify; line-height: 1.25;"><br>
        <br>
      </div>
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      </div>
      <div style="line-height: 1.25; font-weight: bold;">About IM Cannabis Corp.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">IM Cannabis (NASDAQ: IMCC, CSE: IMCC) is a leading international cannabis company providing premium products to medical patients and adult-use recreational consumers. IM Cannabis is one of the very
        few companies with operations in Israel, Germany, and Canada, the three largest federally legal markets. The ecosystem created through its international operations leverages the Company&#8217;s unique data-driven perspective and product supply chain
        globally. With its commitment to responsible growth and financial prudence, and the ability to operate within the strictest regulatory environments, the Company has quickly become one of the leading cultivators and distributors of high-quality
        cannabis globally.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">The IM Cannabis ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd. (&#8220;<font style="font-weight: bold;">Focus Medical</font>&#8221;), which cultivates, imports,
        and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centres and logistical hubs through IMC Holdings
        in Israel that enable the safe delivery and quality control of IM Cannabis products throughout the entire value chain. In Germany, the IM Cannabis ecosystem operates through Adjupharm GmbH (&#8220;<font style="font-weight: bold;">Adjupharm</font>&#8221;),
        where it also distributes cannabis to pharmacies to medical cannabis patients. In Canada, IM Cannabis operates through Trichome Financial Corp. and its subsidiaries TJAC and MYM, where it cultivates and processes cannabis for the adult-use market
        at its Ontario, Nova Scotia, and Quebec facilities under the WAGNERS and Highland Grow brands.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-weight: bold;">Disclaimer for Forward-Looking Statements</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">This press release contains &#8220;forward-looking information&#8221; and &#8220;forward-looking statements&#8221; within the meaning of applicable Canadian and United States securities laws (collectively,
        &#8220;forward-looking information&#8221;). Forward-looking information are often, but not always, identified by the use of words such as &#8220;seek&#8221;, &#8220;anticipate&#8221;, &#8220;believe&#8221;, &#8220;plan&#8221;, &#8220;estimate&#8221;, &#8220;expect&#8221;, &#8220;likely&#8221; and &#8220;intend&#8221; and statements that an event or
        result &#8220;may&#8221;, &#8220;will&#8221;, &#8220;should&#8221;, &#8220;could&#8221; or &#8220;might&#8221; occur or be achieved and other similar expressions. Forward-looking information in this press release includes, without limitation, statements relating to the receipt of additional approvals from
        the IMCU, the Company&#8217;s business model, increasing customer satisfaction and consumption levels, anticipated completion of the acquisition of HW Shinua, the non-brokered private placement to be completed by the Company and former shareholders of
        Pharm Yarok and Rosen High Way, timing for the completion of the Panaxia Pharmacy Closing, the issuance of the fifth instalment of Panaxia Consideration Shares, and the business and strategic plans of the Company.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: justify; line-height: 1.25;">Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to the ability of the Company to execute its business plan and the continued growth of
        the medical and/or recreational cannabis markets in the countries in which the Company operates or intends to operate, the Company maintaining &#8220;de facto&#8221; control over Focus Medical in accordance with IFRS 10, Focus Medical maintaining its existing
        Israeli medical cannabis propagation and cultivation licenses and the expected decriminalization and/or legalization of adult-use recreational cannabis in Israel. The Company considers these assumptions to be reasonable in the circumstances.
        However, forward-looking information is subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those expressed or implied in the forward-looking
        information. Such risks include, without limitation: the ability of the Company to comply with applicable government regulations in a highly regulated industry; the ability of the Company to successfully integrate the Israel Transactions into its
        existing operations; unexpected changes in governmental policies and regulations affecting the production, distribution, manufacture, import, export or use of medical and/or recreational cannabis, as applicable, in Israel, Germany and Canada; any
        change in the political environment which would negatively affect the decriminalization and/or legalization of recreational cannabis in Israel and Germany; conflict in Eastern Europe; and unexpected disruptions to the operations and businesses of
        the Company as a result of the ongoing COVID-19 global pandemic or other disease outbreaks.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">Please see the other risks, uncertainties and factors set out under the heading &#8220;Risk Factors&#8221; in the Company&#8217;s management&#8217;s discussion and analysis dated November 15, 2021 and annual information
        form dated April 26, 2021 filed with Canadian securities regulators and which are available on the Company&#8217;s issuer profile on SEDAR at www.sedar.com. Any forward-looking statement included in this press release is made as of the date of this press
        release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by
        applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25; font-weight: bold;">Company Contact:</div>
      <div style="line-height: 1.25;">Maya Lustig, Director Investor &amp; Public Relations</div>
      <div style="line-height: 1.25;"><font style="font-weight: normal;">IM Cannabis</font><br>
        +972-54-677-8100<br>
        <u>maya.l@imcannabis.com</u></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25; font-weight: bold;">Investor Relations:</div>
      <div style="line-height: 1.25;">Brooks Hamilton, Director</div>
      <div style="line-height: 1.25;">MZ Group &#8211; MZ North America</div>
      <div style="line-height: 1.25;">+1 949-546-6326<br>
        <u>IMCC@mzgroup.us</u></div>
      <br>
      <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exhibit_99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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    <div style="text-align: right;"><u><font style="font-weight: bold;"> Exhibit 99.2</font></u><br>
    </div>
    <div>
      <div id="DSPFPageHeader">
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
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      <div style="text-align: center; line-height: 1.25; font-weight: bold;">FORM 9</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;"><u>NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF LISTED SECURITIES</u></div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;"><u>(or securities convertible or exchangeable into listed securities</u><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup><u>)</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
      </div>
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          <tr>
            <td rowspan="1" style="width: 67.69%; vertical-align: top; border-bottom: #000000 2px solid;">Name of Listed Issuer:</td>
            <td rowspan="1" style="width: 32.31%; vertical-align: top; border-bottom: #000000 2px solid;">Symbol(s):</td>
          </tr>
          <tr>
            <td style="width: 67.69%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">IM Cannabis Corp. (the &#8220;Issuer&#8221;).</div>
            </td>
            <td style="width: 32.31%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">IMCC</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Date:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>March 15, 2022</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Is this an updating or amending Notice:&#160;&#160;&#160;&#160;&#160;&#160; &#9744; Yes &#9746; No</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">If yes provide date(s) of prior Notices:&#160; ________________________.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Issued and Outstanding Securities of Issuer Prior to Issuance: <u>68,430,088 common shares</u>.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25; font-weight: bold;">Pricing</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Date of news release announcing proposed issuance:&#160; <u>July 28, 2021 and March 15;</u> or</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Date of confidential request for price protection: ________________</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Closing Market Price on Day Preceding the news release: <u>$2.18</u> or</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Day preceding request for price protection: __________________</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25; font-weight: bold;">Closing</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Number of securities to be issued: <u>523,700<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></u><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><u></u></sup><u> common shares</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Issued and outstanding securities following issuance:&#160;<u>69,439,150<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></u><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><u></u></sup><u> common shares</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25; font-weight: bold;">Instructions:</div>
      <div style="line-height: 1.25">&#160;</div>
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          <tr>
            <td style="width: 3.3pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">1.</td>
            <td style="width: auto; vertical-align: top;">
              <div>For private placements (including debt settlement), complete tables 1A and 1B in Part 1 of this form.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 3.3pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">2.</td>
            <td style="width: auto; vertical-align: top;">
              <div>Complete Table 1A &#8211; Summary for all purchasers, excluding those identified in Item 8.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd9377fee6af14026996f116b13182756">

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            <td style="width: 3.3pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">3.</td>
            <td style="width: auto; vertical-align: top;">
              <div>Complete Table 1B &#8211; Related Persons only for Related Persons</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 3.3pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">4.</td>
            <td style="width: auto; vertical-align: top;">
              <div>If shares are being issued in connection with an acquisition (either as consideration or to raise funds for a cash acquisition) please proceed to Part 2 of this form.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbcf01ce98f39461d9969c94b7273bd1a">

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            <td style="width: 3.3pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">5.</td>
            <td style="width: auto; vertical-align: top;">
              <div>An issuance of non-convertible debt does not have to be reported unless it is a significant transaction as defined in Policy 7, in which case it is to be reported on Form 10 &#8211; Notice of Proposed Transaction</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8ad0d596fab4426195f9f70a7c53fa09">

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            <td style="width: 3.3pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-weight: normal;">6.</td>
            <td style="width: auto; vertical-align: top;">
              <div>Post the completed Form 9 to the CSE website in accordance with <font style="font-style: italic;">Policy 6 &#8211; Distributions.</font>&#160; In addition, the completed form must be delivered to <u>listings@thecse.com</u> with an appendix that
                includes the information in Table 1B for ALL placees.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;">
      <div style="line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> The Common Shares were issued at a deemed price of CAD$2.616 calculated based on the average closing price of the Issuer&#8217;s common shares on the CSE Market over the 8 trading day period immediately
        preceding their issuance on March 14, 2022 and in accordance with the relevant pricing requirements pursuant to Canadian Securities Exchange policies (as detailed in Part1, section 2)</div>
      <div style="line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> On March 14 2022, the Issuer issued an additional 485,362 common shares in relation to the Vironna Transaction as detailed in Issuer&#8217;s the press release dated March 15, 2022 and in the relevant CSE Form 9.</div>
      <div style="line-height: 1.25;"><br>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">
        <div style="text-align: center; line-height: 1.25; font-weight: bold;">
          <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
        <div style="text-align: center; line-height: 1.25;">September 2018</div>
        <div style="text-align: center; line-height: 1.25;">Page <font id="DSPFPageNumber">1</font></div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;"><font style="font-weight: bold;">Part 1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Private Placement</font></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25; font-weight: bold;"><u>Table 1A &#8211; Summary</u></div>
      <div style="line-height: 1.25; font-weight: bold;"><u> <br>
        </u></div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" id="z4b86e5bc4f3f40fabc54da603bf499b7">

          <tr>
            <td style="width: 38.14%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Each jurisdiction in which purchasers reside</div>
            </td>
            <td style="width: 17.76%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Number of Purchasers</div>
            </td>
            <td style="width: 19.1%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Price per Security</div>
            </td>
            <td style="width: 25%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Total dollar value (CDN$) raised in the jurisdiction</div>
            </td>
          </tr>
          <tr>
            <td style="width: 38.14%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Israel</div>
            </td>
            <td style="width: 17.76%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">2</div>
            </td>
            <td style="width: 19.1%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CAD$2.616<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup></div>
            </td>
            <td style="width: 25%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CAD$1,369,999.2</div>
              <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 38.14%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 17.76%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 19.1%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 25%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 38.14%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Total number of purchasers:</div>
            </td>
            <td style="width: 17.76%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">2</div>
            </td>
            <td style="width: 19.1%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 25%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td colspan="3" style="width: 75%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Total dollar value of distribution in all jurisdictions:</div>
            </td>
            <td style="width: 25%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CAD$1,369,999.2</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25; font-weight: bold;"><u>Table 1B &#8211; Related Persons</u></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
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            <td style="width: 13.08%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.91%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 11.19%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.91%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.91%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16.35%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.32%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.32%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <td style="width: 12.91%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <td style="width: 10.32%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">&#160;</td>
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      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">
        <div style="line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>An issuance of non-convertible debt does not have to be reported unless it is a significant transaction as defined in Policy 7, in which case it is to be reported on Form 10.</div>
        <div style="line-height: 1.25;"> <br>
        </div>
        <div><br>
        </div>
        <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;">
        <div style="line-height: 1.25;"><sup style="font-family: 'Times New Roman', serif; vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup> Calculated based on the average closing price of the Issuer&#8217;s common shares on the CSE Market over the 8 trading day period immediately preceding their
          issuance on March 14, 2022 and in accordance with the relevant pricing requirements pursuant to Canadian Securities Exchange policies</div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25">
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">
            <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
          <div style="text-align: center; line-height: 1.25;">September 2018</div>
          <div style="text-align: center; line-height: 1.25;">Page 2<font id="DSPFPageNumber"></font></div>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <br>
      <div style="line-height: 1.25">
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

            <tr>
              <td style="width: 54pt; vertical-align: top; align: right;">1.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>Total amount of funds to be raised: CAD$1,369,999.2</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">2.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Provide full details of the use of the proceeds. The disclosure should be sufficiently complete to enable a reader to appreciate the significance of the transaction without reference to any other material:</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 54pt; line-height: 1.25;"><u>The private placement is related to a share purchase agreement (the &#8220;</u><font style="font-weight: bold;"><u>Definitive Agreement</u></font><u>&#8221;)&#160; entered into on July 28,
          2021 between IMC Holdings Ltd., the wholly-owned Israeli subsidiary of the Issuer, R.A. Yarok Pharm Ltd. (&#8220;</u><font style="font-weight: bold;"><u>Pharm Yarok</u></font><u>&#8221;), a leading medical cannabis pharmacy located in central Israel; Rosen
          High Way Ltd. (&#8220;</u><font style="font-weight: bold;"><u>Rosen High Way</u></font><u>&#8221;), a trade and distribution centre with an IMC-GDP license that provides medical cannabis storage, distribution services and logistics solutions for cannabis
          companies and pharmacies in Israel; High Way Shinua Ltd. (&#8220;</u><font style="font-weight: bold;"><u>HW Shinua</u></font><u>&#8221;), an applicant for a medical cannabis transportation license, from the Israeli Medical Cannabis Unit (collectively, the &#8220;</u><font style="font-weight: bold;"><u>Acquired Entities</u></font><u>&#8221;); and the shareholders of the Acquired Entities (the &#8220;</u><font style="font-weight: bold;"><u>Placees</u></font><u>&#8221;) to acquire all of the outstanding ordinary shares of each of
          Pharm Yarok, Rosen High Way and HW Shinua (the &#8220;</u><font style="font-weight: bold;"><u>Pharm Yarok Transaction</u></font><u>&#8221;). Pursuant to the Definitive Agreement, the Placees agreed to make a strategic investment in the Issuer by means of a
          private placement concurrently with closing of the Pharm Yarok Transaction. On March 14, 2022the Issuer completed a non-brokered private placement with the Placees whereby the Issuer issued 523,700 common shares at a deemed price of CAD$2.616 for
          aggregate proceeds of CAD$1,369,999.2. The calculation of the deemed price of CAD$2.616 was based on the average closing price of the Issuer&#8217;s common shares on the Canadian Securities Exchange over the 8 trading day period immediately preceding
          March 14, 2022. The proceed from the private placement will be used for working capital purposes.</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 0pt; margin-left: 54pt; line-height: 1.25;">Provide particulars of any proceeds which are to be paid to Related Persons of the Issuer: <u>N/A</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfa23bd3b7623469281120f262b44a4c3">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">3.</td>
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              <div>If securities are issued in forgiveness of indebtedness, provide details of the debt agreement(s) or and the agreement to exchange the debt for securities. <u>N/A</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z239f152b2a2e4852b3ee6909cfd9359e">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">4.</td>
            <td style="width: auto; vertical-align: top;">
              <div>Description of securities to be issued:</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-indent: 54pt; line-height: 1.25;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Class <u>Common Shares</u>.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-indent: 54pt; line-height: 1.25;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Number <u>523,700</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-indent: 54pt; line-height: 1.25;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Price per security <u>CAD$2.616</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-indent: 54pt; line-height: 1.25;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Voting rights <u>Each common share entitles the holder to one vote</u></div>
      <div style="line-height: 1.25">&#160;
        <div style="line-height: 1.25">
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
          <div style="line-height: 1.25;">
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">
              <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
            <div style="text-align: center; line-height: 1.25;">September 2018</div>
            <div style="text-align: center; line-height: 1.25;">Page 3</div>
          </div>
        </div>
      </div>
      <div style="line-height: 1.25"> <br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">5.</td>
            <td style="width: auto; vertical-align: top;">
              <div>Provide the following information if warrants, (options) or other convertible securities are to be issued:</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8d721d5e59544206940c0082897a2429">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(a)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Number <u>N/A</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z05d9505e9b454d6295d367cbcce67447">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(b)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Number of securities eligible to be purchased on exercise of warrants (or options)&#160; <u>N/A</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdad721c6fbe44bcb8952ff375d44a3db">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(c)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Exercise price <u>N/A</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1ef98ad080d7419b9931a1db599a2606">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(d)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Expiry date <u>N/A</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z84729b5d5b2a40baab51c7baceb011d8">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">6.</td>
            <td style="width: auto; vertical-align: top;">
              <div>Provide the following information if debt securities are to be issued:</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc69ece9eaaeb4fce8b0875f96b6388ba">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(a)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Aggregate principal amount <u>N/A</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0c60869b6e584f53948f9cbb427684f6">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(b)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Maturity date <u>N/A</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25">
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

            <tr>
              <td style="width: 54pt;"><br>
              </td>
              <td style="width: 54pt; vertical-align: top; align: right;">(c)</td>
              <td style="width: auto; vertical-align: top;">
                <div>Interest rate <u>N/A</u></div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div>
          <div style="line-height: 1.25">
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

                <tr>
                  <td style="width: 54pt;"><br>
                  </td>
                  <td style="width: 54pt; vertical-align: top; align: right;">(d)</td>
                  <td style="width: auto; vertical-align: top;">
                    <div>Conversion terms <u>N/A</u></div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div style="line-height: 1.25">
          <div><br>
          </div>
          <div>
            <div style="line-height: 1.25">
              <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

                  <tr>
                    <td style="width: 54pt;"><br>
                    </td>
                    <td style="width: 54pt; vertical-align: top; align: right;">(e)</td>
                    <td style="width: auto; vertical-align: top;">
                      <div>Default provisions <u>N/A</u></div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">7.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Provide the following information for any agent&#8217;s fee, commission, bonus or finder&#8217;s fee, or other compensation paid or to be paid in connection with the placement (including warrants, options, etc.):</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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          <tr>
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              <div>Details of any dealer, agent, broker or other person receiving compensation in connection with the placement (name, and if a corporation, identify persons owning or exercising voting control over 20% or more of the voting shares if known
                to the Issuer): <u>N/A</u></div>
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      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">(b)</td>
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              <div>Cash <u>N/A</u></div>
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      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">(c)</td>
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              <div>Securities <u>N/A</u></div>
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      <div style="line-height: 1.25">&#160;</div>
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      <div style="line-height: 1.25">&#160;</div>
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              <div>Expiry date of any options, warrants etc. <u>N/A</u></div>
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      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zff22c068cb9b44ac88dea28d0b364a2e">

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            <td style="width: 54pt; vertical-align: top; align: right;">(f)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Exercise price of any options, warrants etc. <u>N/A</u></div>
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      <div style="line-height: 1.25">&#160;</div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">8.</td>
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              <div>State whether the sales agent, broker, dealer or other person receiving compensation in connection with the placement is Related Person or has any other relationship with the Issuer and provide details of the relationship <u>N/A</u></div>
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      <div style="line-height: 1.25">&#160;</div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">9.</td>
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              <div>Describe any unusual particulars of the transaction (i.e. tax &#8220;flow through&#8221; shares, etc.).</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 54pt; line-height: 1.25;"><u>N/A</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25">
        <div style="line-height: 1.25">
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
          <div style="line-height: 1.25;">
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">
              <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
            <div style="text-align: center; line-height: 1.25;">September 2018</div>
            <div style="text-align: center; line-height: 1.25;">Page 4<br>
            </div>
          </div>
        </div>
      </div>
      <div style="line-height: 1.25"> <br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">10.</td>
            <td style="width: auto; vertical-align: top;">
              <div>State whether the private placement will result in a change of control.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 54pt; line-height: 1.25;"><u>No</u>.</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">11.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Where there is a change in the control of the Issuer resulting from the issuance of the private placement shares, indicate the names of the new controlling shareholders.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 54pt; line-height: 1.25;"><u>N/A</u>.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">12.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Each purchaser has been advised of the applicable securities legislation restricted or seasoning period.&#160; All certificates for securities issued which are subject to a hold period bear the appropriate legend restricting their transfer
                until the expiry of the applicable hold period required by National Instrument 45-102 Resale of Securities.</div>
            </td>
          </tr>

      </table>
      <div>
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">
            <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
          <div style="text-align: center; line-height: 1.25;">September 2018</div>
          <div style="text-align: center; line-height: 1.25;">Page 5</div>
        </div>
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      <br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
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      <div style="line-height: 1.25;"><font style="font-weight: bold;">Part 2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Acquisition</font></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
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            <td style="width: 54pt; vertical-align: top; align: right;">1.</td>
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              <div>Provide details of the assets to be acquired by the Issuer (including the location of the assets, if applicable).&#160; The disclosure should be sufficiently complete to enable a reader to appreciate the significance of the transaction
                without reference to any other material:&#160; N/A</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zae78f3a3edc740cfa81acaa76c6041a4">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">2.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Provide details of the acquisition including the date, parties to and type of agreement (eg: sale, option, license etc.) and relationship to the Issuer. The disclosure should be sufficiently complete to enable a reader to appreciate the
                significance of the acquisition without reference to any other material: N/A</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9045dedfee964b9f9a8e3ca7465199bc">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">3.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Provide the following information in relation to the total consideration for the acquisition (including details of all cash, securities or other consideration) and any required work commitments: N/A</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb166611337264021a6474ffc31c2af53">

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            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(a)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Total aggregate consideration in Canadian dollars:</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(b)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Cash:</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(c)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Securities (including options, warrants etc.) and dollar value:</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(d)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Other:</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(e)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Expiry date of options, warrants, etc. if any:</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z48f517cfcf36449099db45a7b26d444a">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(f)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Exercise price of options, warrants, etc. if any:</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z52b67f34ab9e4031a0d231aef47b0d07">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(g)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Work commitments:</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z653bb03578234ddb9b15675093c8adb9">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">4.</td>
            <td style="width: auto; vertical-align: top;">
              <div>State how the purchase or sale price was determined (e.g. arm&#8217;s-length negotiation, independent committee of the Board, third party valuation etc). N/A</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="margin-left: 54pt; line-height: 1.25;">Provide details of any appraisal or valuation of the subject of the acquisition known to management of the Issuer: N/A</div>
      <div style="line-height: 1.25">&#160;
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">
            <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
          <div style="text-align: center; line-height: 1.25;">September 2018</div>
          <div style="text-align: center; line-height: 1.25;">Page 6</div>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: justify; line-height: 1.25;">
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            <tr>
              <td style="width: 54pt; vertical-align: top; align: right;">5.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>The names of parties receiving securities of the Issuer pursuant to the acquisition and the number of securities to be issued are described as follows: N/A<br>
                </div>
              </td>
            </tr>

        </table>
        <br style="line-height: 1.25;">
      </div>
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              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Name of Party (If not an individual, name all insiders of the Party)</div>
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              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Number and Type of Securities to be Issued</div>
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              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Dollar value per Security (CDN$)</div>
            </td>
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              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Conversion price (if applicable)</div>
            </td>
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              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Prospectus Exemption</div>
            </td>
            <td style="width: 14.27%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Total Securities, Previously Owned, Controlled or Directed by Party</div>
            </td>
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              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Describe relationship</div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">to Issuer<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.26%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 14.25%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 14.22%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 14.29%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 14.28%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 14.27%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 14.44%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">&#160;</td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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          <tr>
            <td style="width: 9pt;"><br>
            </td>
            <td style="width: 27pt; vertical-align: top; align: right;">(1)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Indicate if Related Person</div>
            </td>
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      <div style="text-align: justify; text-indent: -54pt; margin-left: 54pt; line-height: 1.25;">.</div>
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            <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
          <div style="text-align: center; line-height: 1.25;">September 2018</div>
          <div style="text-align: center; line-height: 1.25;">Page 7</div>
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      <div style="line-height: 1.25;">The undersigned hereby certifies that:</div>
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              <div>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 on behalf of the Issuer.</div>
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              <div>As of the date hereof there is not material information concerning the Issuer which has not been publicly disclosed.</div>
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              <div>the Issuer has obtained the express written consent of each applicable individual to:</div>
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              <div>the disclosure of their information to the Exchange pursuant to this Form or otherwise pursuant to this filing; and</div>
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              <div>the collection, use and disclosure of their information by the Exchange in the manner and for the purposes described in Appendix A or as otherwise identified by the Exchange, from time to time</div>
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      <div style="line-height: 1.25">&#160;</div>
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              <div>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 CSE Policy 1).</div>
            </td>
          </tr>

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      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">5.</td>
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              <div>All of the information in this Form 9 Notice of Issuance of Securities is true.</div>
            </td>
          </tr>

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      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Dated <u>March 15, 2022</u>.</div>
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              <div><u>Oren Shuster</u></div>
              <div>Name of Director or Senior Officer</div>
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      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 171pt; vertical-align: top; align: right;"><u></u><br>
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              <div><u>&#8220;</u><font style="font-style: italic;"><u>Oren Shuster</u></font><u>&#8221;</u></div>
              <div><u></u>Signature</div>
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      <div style="line-height: 1.25">&#160;</div>
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              <div><u>Chief Executive Officer</u></div>
              <div>Official Capacity</div>
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      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">
        <div style="line-height: 1.25;">
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
          <div style="line-height: 1.25;">
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              <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
            <div style="text-align: center; line-height: 1.25;">September 2018</div>
            <div style="text-align: center; line-height: 1.25;">Page 8</div>
          </div>
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      <div style="text-align: center; margin-left: 36pt; line-height: 1.25; font-weight: bold;">Appendix A</div>
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      <div style="text-align: center; margin-left: 36pt; line-height: 1.25; font-weight: bold;">PERSONAL INFORMATION COLLECTION POLICY REGARDING FORM 9</div>
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      <div style="text-align: justify; line-height: 1.25;">The Canadian Securities Exchange and its subsidiaries, affiliates, regulators and agents (collectively, &#8220;CSE or the &#8220;Exchange&#8221;) collect and use the information (which may include personal or other
        information) which has been provided in Form 9 for the following purposes:</div>
      <div style="line-height: 1.25">&#160;</div>
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              <div>To determine whether an individual is suitable to be associated with a Listed Issuer;</div>
            </td>
          </tr>

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      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 28.35pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To determine whether an issuer is suitable for listing;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 28.35pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To determine whether allowing an issuer to be listed or allowing an individual to be associated with a Listed Issuer could give rise to investor protection concerns or could bring the Exchange into disrepute;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 28.35pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To conduct enforcement proceedings;</div>
            </td>
          </tr>

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      <div style="line-height: 1.25">&#160;</div>
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          <tr>
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            <td style="width: 28.35pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To ensure compliance with Exchange Requirements and applicable securities legislation; and</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z723a9226e7004c3c8e38afb0e6f13d48">

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            <td style="width: 28.35pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To fulfil the Exchange&#8217;s obligation to regulate its marketplace.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">The CSE also collects information, including personal information, from other sources, including but not limited to securities regulatory authorities, law enforcement and self-regulatory
        authorities, regulation service providers and their subsidiaries, affiliates, regulators and agents. The Exchange may disclose personal information to these entities or otherwise as provided by law and they may use it for their own investigations.</div>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">The Exchange may use third parties to process information or provide other administrative services. Any third party will be obliged to adhere to the security and confidentiality provisions set out
        in this policy.</div>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">All personal information provided to or collected by or on behalf of The Exchange and that is retained by The Exchange is kept in a secure environment. Only those employees who need to know the
        information for the purposes listed above are permitted access to the information or any summary thereof. Employees are instructed to keep the information confidential at all times.</div>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Information about you that is retained by the Exchange and that you have identified as inaccurate or obsolete will be corrected or removed.</div>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">If you wish to consult your file or have any questions about this policy or our practices, please write the Chief Privacy Officer, Canadian Securities Exchange, 220 Bay Street &#8211; 9th Floor, Toronto,
        ON, M5J 2W4.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">
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        <div style="text-align: center; line-height: 1.25; font-weight: bold;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
        <div style="text-align: center; line-height: 1.25;">September 2018</div>
        <div style="text-align: center; line-height: 1.25;">Page 9</div>
        <div style="text-align: center; line-height: 1.25;">
          <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; margin-left: auto; margin-right: auto;"> </div>
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<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>exhibit_99-3.htm
<DESCRIPTION>EXHIBIT 99.3
<TEXT>
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    <div style="text-align: right;"><u><font style="font-weight: bold;"> Exhibit 99.3</font></u><br>
    </div>
    <div>
      <div id="DSPFPageHeader">
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
      </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">FORM 9</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;"><u>NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF LISTED SECURITIES</u></div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;"><u>(or securities convertible or exchangeable into listed securities</u><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup><u>)</u></div>
      <div style="line-height: 1.25;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
      </div>
      <table cellspacing="0" cellpadding="2" border="0" id="zd3c7d786b9d24748be5b4a1cc7ae5ef4" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 67.69%; vertical-align: top; border-bottom: #000000 2px solid;" rowspan="1">Name of Listed Issuer:</td>
            <td style="width: 32.31%; vertical-align: top; border-bottom: #000000 2px solid;" rowspan="1">Symbol(s):</td>
          </tr>
          <tr>
            <td style="width: 67.69%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">IM Cannabis Corp. (the &#8220;Issuer&#8221;).</div>
            </td>
            <td style="width: 32.31%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">IMCC</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Date:&#160; <u>March 15, 2022</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Is this an updating or amending Notice:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8999;Yes&#160; &#9744; No</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">If yes provide date(s) of prior Notices:&#160; <u>September 28, 2021</u>.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Issued and Outstanding Securities of Issuer Prior to Issuance:&#160; <u>68,430,088 common shares</u>.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25; font-weight: bold;">Pricing</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Date of news release announcing proposed issuance:&#160; <u>August 16, 2021, and March 15,</u><u>&#160;</u><u>2022; </u>or</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Date of confidential request for price protection: ________________</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Closing Market Price on Day Preceding the news release: <u>$2.18</u> or</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Day preceding request for price protection: __________________</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25; font-weight: bold;">Closing</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Number of securities to be issued: <u>485,362</u><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><u>1</u></sup><u> common shares</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Issued and outstanding securities following issuance: <u>69,439,150<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></u><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><u></u></sup><u> common shares</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25; font-weight: bold;">Instructions:</div>
      <div style="line-height: 1.25">&#160;</div>
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          <tr>
            <td style="width: 3.3pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">1.</td>
            <td style="width: auto; vertical-align: top;">
              <div>For private placements (including debt settlement), complete tables 1A and 1B in Part 1 of this form.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z3088b300eb434af4a4ac2a1df8a99e55" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 3.3pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">2.</td>
            <td style="width: auto; vertical-align: top;">
              <div>Complete Table 1A &#8211; Summary for all purchasers, excluding those identified in Item 8.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z697cb3fba7d94956b57767e94ea53ac9" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 3.3pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">3.</td>
            <td style="width: auto; vertical-align: top;">
              <div>Complete Table 1B &#8211; Related Persons only for Related Persons</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zf5a6dd0c6eb34d5291626bc94f3f0e92" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 3.3pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">4.</td>
            <td style="width: auto; vertical-align: top;">
              <div>If shares are being issued in connection with an acquisition (either as consideration or to raise funds for a cash acquisition) please proceed to Part 2 of this form.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zb8b3194a19a1479a97c1db70c2321f26" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 3.3pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">5.</td>
            <td style="width: auto; vertical-align: top;">
              <div>An issuance of non-convertible debt does not have to be reported unless it is a significant transaction as defined in Policy 7, in which case it is to be reported on Form 10 &#8211; Notice of Proposed Transaction</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z632bcd612f29424caf578258a2bcddff" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 3.3pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-weight: normal;">6.</td>
            <td style="width: auto; vertical-align: top;">
              <div>Post the completed Form 9 to the CSE website in accordance with <font style="font-style: italic;">Policy 6 &#8211; Distributions.</font>&#160; In addition, the completed form must be delivered to <u>listings@thecse.com</u> with an appendix that
                includes the information in Table 1B for ALL placees.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;">
      <div style="line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> The Common Shares were issued at a deemed price of US$2.209, calculated based on the average closing price of the Company&#8217;s Common Shares on the Nasdaq Capital Market over the 14 trading day period
        immediately preceding March 14, 2022 (as detailed in Part 2, section 1 herein).</div>
      <div style="line-height: 1.25;"><sup style="font-family: 'Times New Roman', serif; vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> On March 14, 2022, the Issuer has issued an additional 523,700 common shares in relation to the Pharm Yarok Transaction as detailed in the Issuer&#8217;s press
        release dated March 15, 2022 and in the relevant CSE Form 9.</div>
      <div style="line-height: 1.25;"> <br>
      </div>
      <div style="line-height: 1.25;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="line-height: 1.25">&#160;
        <div style="text-align: center; line-height: 1.25; font-weight: bold;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
        <div style="text-align: center; line-height: 1.25;">September 2018</div>
        <div style="text-align: center; line-height: 1.25;">Page <font id="DSPFPageNumber">1</font></div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
      </div>
      <div style="line-height: 1.25;"><font style="font-weight: bold;">Part 1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Private Placement</font></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25; font-weight: bold;"><u>Table 1A &#8211; Summary</u></div>
      <div style="line-height: 1.25; font-weight: bold;"><u> <br>
        </u></div>
      <table cellspacing="0" cellpadding="2" border="0" id="z8b3ab16230fa429d98ca07fd1c2e5603" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 38.14%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Each jurisdiction in which purchasers reside</div>
            </td>
            <td style="width: 17.76%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Number of Purchasers</div>
            </td>
            <td style="width: 19.1%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Price per Security</div>
            </td>
            <td style="width: 25%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Total dollar value (CDN$) raised in the jurisdiction</div>
            </td>
          </tr>
          <tr>
            <td style="width: 38.14%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 17.76%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 19.1%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 25%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 38.14%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 17.76%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 19.1%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 25%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 38.14%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Total number of purchasers:</div>
            </td>
            <td style="width: 17.76%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 19.1%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 25%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 75%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Total dollar value of distribution in all jurisdictions:</div>
            </td>
            <td style="width: 25%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">&#160;</td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25; font-weight: bold;"><u>Table 1B &#8211; Related Persons</u></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="z8e45206410fe4ebba69feebc05739294" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 13.08%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Full Name &amp;Municipality of Residence of Placee</div>
            </td>
            <td style="width: 12.91%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Number of Securities Purchased or to be Purchased</div>
            </td>
            <td style="width: 11.19%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Purchase price per Security (CDN$)</div>
            </td>
            <td style="width: 12.91%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Conversion</div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Price (if</div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Applicable)</div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(CDN$)</div>
            </td>
            <td style="width: 12.91%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Prospectus Exemption</div>
            </td>
            <td style="width: 16.35%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">TotalSecuritiesPreviously Owned, Controlled or Directed</div>
            </td>
            <td style="width: 10.32%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Payment Date(1)</div>
            </td>
            <td style="width: 10.32%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Describe relations-hip to Issuer (2)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.08%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.91%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 11.19%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.91%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.91%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16.35%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.32%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.32%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13.08%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.91%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 11.19%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.91%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.91%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16.35%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.32%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.32%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13.08%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.91%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 11.19%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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      <div style="line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>An issuance of non-convertible debt does not have to be reported unless it is a significant transaction as defined in Policy 7, in which case it is to be reported on Form 10.</div>
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              <div>Total amount of funds to be raised: N/A</div>
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              <div>Provide full details of the use of the proceeds.&#160; The disclosure should be sufficiently complete to enable a reader to appreciate the significance of the transaction without reference to any other material.<u>&#160;</u><u>N/A</u></div>
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      <div style="line-height: 1.25">&#160;
        <div style="line-height: 1.25;"> <br>
        </div>
        <div style="line-height: 1.25;">
          <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
        <div style="line-height: 1.25">&#160;
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
          <div style="text-align: center; line-height: 1.25;">September 2018</div>
          <div style="text-align: center; line-height: 1.25;">Page 2</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">3.</td>
            <td style="width: auto; vertical-align: top;">
              <div>Provide particulars of any proceeds which are to be paid to Related Persons of the Issuer: <u>N/A</u></div>
            </td>
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            <td style="width: 54pt; vertical-align: top; align: right;">4.</td>
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              <div>If securities are issued in forgiveness of indebtedness, provide details of the debt agreement(s) or and the agreement to exchange the debt for securities.</div>
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          </tr>

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      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">5.</td>
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          </tr>

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      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25">
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              <td style="width: 54pt; vertical-align: top; align: right;">(a)</td>
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                <div>Class&#160; <u>N/A</u></div>
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        <div style="line-height: 1.25">
          <div style="line-height: 1.25">&#160;</div>
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                </td>
                <td style="width: 54pt; vertical-align: top; align: right;">(b)</td>
                <td style="width: auto; vertical-align: top;">
                  <div>Number <u>N/A</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">
            <div style="line-height: 1.25">&#160;</div>
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                  <td style="width: 54pt;"><br>
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                  <td style="width: 54pt; vertical-align: top; align: right;">(c)</td>
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                    <div>Price per security <u>N/A</u></div>
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            <div style="line-height: 1.25">
              <div style="line-height: 1.25">&#160;</div>
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                    <td style="width: 54pt;"><br>
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                    <td style="width: 54pt; vertical-align: top; align: right;">(d)</td>
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                      <div>Voting rights <u>N/A</u></div>
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              <div style="line-height: 1.25">&#160;</div>
            </div>
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            <td style="width: 54pt; vertical-align: top; align: right;">6.</td>
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              <div>Provide the following information if warrants, (options) or other convertible securities are to be issued:</div>
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      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">(a)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Number <u>N/A</u></div>
            </td>
          </tr>

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      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">(b)</td>
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              <div>Number of securities eligible to be purchased on exercise of warrants (or options)&#160; <u>N/A</u></div>
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            <td style="width: 54pt; vertical-align: top; align: right;">(c)</td>
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              <div>Exercise price<u>&#160;</u><u>N/A</u></div>
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      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">(d)</td>
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              <div>Expiry date <u>N/A</u></div>
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              <div>Provide the following information if debt securities are to be issued:</div>
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      <div style="line-height: 1.25">&#160;</div>
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              <div>Aggregate principal amount <u>N/A</u></div>
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            <td style="width: 54pt; vertical-align: top; align: right;">(b)</td>
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              <div>Maturity date <u>N/A</u></div>
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      <div style="line-height: 1.25">&#160;</div>
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              <td style="width: 54pt; vertical-align: top; align: right;">(c)</td>
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                <div>Interest rate <u>N/A</u><u></u></div>
              </td>
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        <div style="line-height: 1.25">&#160;
          <div style="line-height: 1.25">
            <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                  <td style="width: 54pt; vertical-align: top; align: right;">(d)</td>
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                    <div>Conversion terms <u>N/A</u></div>
                  </td>
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            <div style="line-height: 1.25">&#160;</div>
          </div>
          <div style="line-height: 1.25">
            <div style="line-height: 1.25">
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                    <td style="width: 54pt;"><br>
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                    <td style="width: 54pt; vertical-align: top; align: right;">(e)</td>
                    <td style="width: auto; vertical-align: top;">
                      <div>Default provisions <u>N/A</u></div>
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              <br>
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      <div style="line-height: 1.25">&#160;
        <div style="line-height: 1.25;"> <br>
        </div>
        <div style="line-height: 1.25;">
          <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
        <div style="line-height: 1.25">&#160;
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
          <div style="text-align: center; line-height: 1.25;">September 2018</div>
          <div style="text-align: center; line-height: 1.25;">Page 3</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">8.</td>
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              <div>Provide the following information for any agent&#8217;s fee, commission, bonus or finder&#8217;s fee, or other compensation paid or to be paid in connection with the placement (including warrants, options, etc.):</div>
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      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zc54e52c93c4040a1a369d1eab2121f12" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 54pt; vertical-align: top; align: right;">(a)</td>
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              <div>Details of any dealer, agent, broker or other person receiving compensation in connection with the placement (name, and if a corporation, identify persons owning or exercising voting control over 20% or more of the voting shares if known
                to the Issuer): <u>N/A</u></div>
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          </tr>

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      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">(b)</td>
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              <div>Cash <u>N/A</u></div>
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          </tr>

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      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">(c)</td>
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              <div>Securities <u>N/A</u></div>
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      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">(d)</td>
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              <div>Other <u>N/A</u></div>
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      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">(e)</td>
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              <div>Expiry date of any options, warrants etc. <u>N/A</u></div>
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      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">(f)</td>
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              <div>Exercise price of any options, warrants etc. <u>N/A</u></div>
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      <div style="line-height: 1.25">&#160;</div>
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              <div>State whether the sales agent, broker, dealer or other person receiving compensation in connection with the placement is Related Person or has any other relationship with the Issuer and provide details of the relationship</div>
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      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 54pt; line-height: 1.25;">&#160;<u>N/A</u></div>
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            <td style="width: 54pt; vertical-align: top; align: right;">10.</td>
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              <div>Describe any unusual particulars of the transaction (i.e. tax &#8220;flow through&#8221; shares, etc.).</div>
            </td>
          </tr>

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      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 54pt; line-height: 1.25;"><u>N/A</u></div>
      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">11.</td>
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              <div>State whether the private placement will result in a change of control.</div>
            </td>
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      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 54pt; line-height: 1.25;"><u>N/A</u></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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            <td style="width: 54pt; vertical-align: top; align: right;">12.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Where there is a change in the control of the Issuer resulting from the issuance of the private placement shares, indicate the names of the new controlling shareholders.</div>
            </td>
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      <div style="text-align: justify; margin-left: 54pt; line-height: 1.25;"><u> <br>
        </u></div>
      <div style="text-align: justify; margin-left: 54pt; line-height: 1.25;"><u>N/A</u></div>
      <div style="line-height: 1.25">&#160;</div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">13.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Each purchaser has been advised of the applicable securities legislation restricted or seasoning period.&#160; All certificates for securities issued which are subject to a hold period bear the appropriate legend restricting their transfer
                until the expiry of the applicable hold period required by National Instrument 45-102 Resale of Securities.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 54pt; line-height: 1.25;"><u>N/A</u></div>
      <div style="line-height: 1.25;">
        <div style="line-height: 1.25;"> <br>
        </div>
        <div style="line-height: 1.25;">
          <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
        <div style="line-height: 1.25">&#160;
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
          <div style="text-align: center; line-height: 1.25;">September 2018</div>
          <div style="text-align: center; line-height: 1.25;">Page 4<br>
          </div>
          <div style="text-align: center; line-height: 1.25;"> <br>
          </div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="page-break-after: always;" id="DSPFPageBreak">
              <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          </div>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;"><font style="font-weight: bold;">Part 2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Acquisition</font></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <table cellspacing="0" cellpadding="0" id="z64785ed4da5f45edb62d2d9cdab86934" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">1.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Provide details of the assets to be acquired by the Issuer (including the location of the assets, if applicable).&#160; The disclosure should be sufficiently complete to enable a reader to appreciate the significance of the transaction
                without reference to any other material:</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; margin-left: 54pt; line-height: 1.25;"><u>The Issuer, through its wholly-owned Israeli subsidiary, IMC Holdings Ltd. (&#8220;</u><font style="font-weight: bold;"><u>IMC Holdings</u></font><u>&#8221;), signed a definitive
          agreement on August 16, 2021(the &#8220;</u><font style="font-weight: bold;"><u>Agreement</u></font><u>&#8221;) with Iman Chasika (&#8221;</u><font style="font-weight: bold;"><u>Seller</u></font><u>&#8221;) and Revoly Trading and Marketing Ltd., dba Vironna Pharm (&#8220;</u><font style="font-weight: bold;"><u>Vironna</u></font><u>&#8221;), pursuant to which IMC Holdings will acquire 51% of the outstanding ordinary shares of Vironna (the &#8220;</u><font style="font-weight: bold;"><u>Vironna Shares</u></font><u>&#8221; and the &#8220;</u><font style="font-weight: bold;"><u>Transaction</u></font><u>&#8221;). Vironna is a leading pharmacy licensed to dispense and sell medical cannabis products to licensed medical cannabis patients. Located in central Israel, Vironna is one of the leading
          pharmacies serving the rapidly growing Arab consumer segment of the Israeli medical cannabis market.&#160; The closing of the transaction occurred on March 14, 2022, upon the receipt of all requisite approvals, including from the Israeli Ministry of
          Health (&#8220;</u><font style="font-weight: bold;"><u>Closing</u></font><u>&#8221;).&#160; The aggregate consideration for the Transaction was NIS 8.5 million (approximately CAD$3.3 million), consisting of NIS 5 million (approximately CAD$1.9 million) in cash
          and NIS 3.5 million (approximately CAD$1.4 million) in common shares of the Issuer (the &#8220;</u><font style="font-weight: bold;"><u>Consideration Shares</u></font><u>&#8221;). The Issuer issued </u><u>485,362</u><u> Consideration Shares on March 14, 2022
          at a deemed issue price of US$2.209 per Consideration Share, representing the average closing price of the Issuer&#8217;s common shares on the Nasdaq Capital Market over the 14 trading day period immediately preceding Closing.</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zc5862e94511b4f33b25c021fca70f063" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">2.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Provide details of the acquisition including the date, parties to and type of agreement (eg: sale, option, license etc.) and relationship to the Issuer. The disclosure should be sufficiently complete to enable a reader to appreciate the
                significance of the acquisition without reference to any other material:</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 54pt; line-height: 1.25;"><u>Under the Agreement, IMC Holdings acquired the Vironna Shares from the Seller, as described in Part 2, section 1. Prior to the Transaction, the Seller was not a Related Person
          to the Issuer.</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z9ca7b31006a14028a19e7ebb32deaf8d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">3.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Provide the following information in relation to the total consideration for the acquisition (including details of all cash, securities or other consideration) and any required work commitments:</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zd09607d1813748788c3baa02590bc916" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(a)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Total aggregate consideration in Canadian dollars: CAD<u>$3,300,000</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zfced37088f864111beaa58773f9b7ec3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(b)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Cash: CAD<u>$1,900,000</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">
        <div style="line-height: 1.25;"> <br>
        </div>
        <div style="line-height: 1.25;">
          <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
        <div style="line-height: 1.25">&#160;
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
          <div style="text-align: center; line-height: 1.25;">September 2018</div>
          <div style="text-align: center; line-height: 1.25;">Page 5</div>
        </div>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z7dd1989c7b1e4715b479027e1d135620" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(c)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Securities (including options, warrants etc.) and dollar value: <u>485,362 common shares</u><u> for an aggregate value of CAD$ 1,363,793.44</u><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><u>3</u></sup></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z93f9260d922b4627838b075bbcbf6d4d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(d)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Other: <u>N/A</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z439957a1080341e4af1e6db672ed10cd" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(e)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Expiry date of options, warrants, etc. if any: <u>N/A</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z07aefad3993142e9ae62d9a3c7bfe9c0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(f)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Exercise price of options, warrants, etc. if any: <u>N/A</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zd863296fb7c64b298535d5f59f156dd4" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;">(g)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Work commitments: <u>N/A</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z4e85f82a6058446eb65f1040ab647084" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">3.</td>
            <td style="width: auto; vertical-align: top;">
              <div>State how the purchase or sale price was determined (e.g. arm&#8217;s-length negotiation, independent committee of the Board, third party valuation etc).</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="margin-left: 54pt; line-height: 1.25;"><u>Arm&#8217;s-length negotiation</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zaf4141b5405240aa87bc93f5fe21faf3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">4.</td>
            <td style="width: auto; vertical-align: top;">
              <div>Provide details of any appraisal or valuation of the subject of the acquisition known to management of the Issuer:</div>
            </td>
          </tr>

      </table>
      <div style="text-align: justify; margin-left: 54pt; line-height: 1.25;"><u> <br>
        </u></div>
      <div style="text-align: justify; margin-left: 54pt; line-height: 1.25;"><u>N/A</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zde1f731659eb47f998223fcba3454ae3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">5.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>The names of parties receiving securities of the Issuer pursuant to the acquisition and the number of securities to be issued are described as follows:</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <table cellspacing="0" cellpadding="2" border="0" id="z82f22a1116c3483e84aa7f2f15fb18ad" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 14.26%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Name of Party (If not an individual, name all insiders of the Party)</div>
            </td>
            <td style="width: 14.25%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Number and Type of Securities to be Issued</div>
            </td>
            <td style="width: 14.22%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Dollar value per Security (CDN$)</div>
            </td>
            <td style="width: 14.29%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Conversion price (if applicable)</div>
            </td>
            <td style="width: 14.28%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Prospectus Exemption</div>
            </td>
            <td style="width: 14.27%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Total Securities, Previously Owned, Controlled or Directed by Party</div>
            </td>
            <td style="width: 14.44%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Describe relationship</div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">to Issuer<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.26%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><u>Iman</u><u>&#160;</u><u>Chasika</u></div>
              <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
            </td>
            <td style="width: 14.25%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">485,362 common shares</div>
            </td>
            <td style="width: 14.22%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Approximately CAD$2.809<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup></div>
            </td>
            <td style="width: 14.29%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">US$2.209</div>
            </td>
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              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">N/A - offshore</div>
            </td>
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              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Nil</div>
            </td>
            <td style="width: 14.44%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Arm&#8217;s length</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z6362e08a38da4ea2a47573c66b94136b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 9pt;"><br>
            </td>
            <td style="width: 27pt; vertical-align: top; align: right;">(1)</td>
            <td style="width: auto; vertical-align: top;">
              <div>Indicate if Related Person</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;<br>
        <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;">
        <div style="line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup> The number and deemed price of the Consideration Shares were determined in accordance with the terms described in Part 2, Section 1 above.</div>
        <div style="line-height: 1.25;"><sup style="font-family: 'Times New Roman', serif; vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup> Based on the Bank of Canada exchange rate on March 11, 2022 of $US$1 = CAD$1.272.</div>
        <div style="line-height: 1.25;"><br>
          <div style="line-height: 1.25;">
            <div style="line-height: 1.25;"> <br>
            </div>
            <div style="line-height: 1.25;">
              <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
            <div style="line-height: 1.25">&#160;
              <div style="text-align: center; line-height: 1.25; font-weight: bold;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
              <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
              <div style="text-align: center; line-height: 1.25;">September 2018</div>
              <div style="text-align: center; line-height: 1.25;">Page 6<br>
              </div>
              <div style="text-align: center; line-height: 1.25;"> <br>
              </div>
              <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
                <div style="page-break-after: always;" id="DSPFPageBreak">
                  <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <table cellspacing="0" cellpadding="0" id="z262ea88196ce4e23a9add4b976a87b40" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">6.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Details of the steps taken by the Issuer to ensure that the vendor has good title to the assets being acquired: <u>Customary representations and warranties under the Agreement and management&#8217;s legal and financial due diligence.</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z88590e9ab2b9473da1939010c8c29aca" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">7.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
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        <div style="line-height: 1.25">&#160;
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
          <div style="text-align: center; line-height: 1.25;">September 2018</div>
          <div style="text-align: center; line-height: 1.25;">Page 7</div>
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      <div style="line-height: 1.25; font-weight: bold;">Certificate Of Compliance</div>
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      <div style="line-height: 1.25;">The undersigned hereby certifies that:</div>
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              <div>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 on behalf of the Issuer.</div>
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              <div>As of the date hereof there is not material information concerning the Issuer which has not been publicly disclosed.</div>
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              <div>the Issuer has obtained the express written consent of each applicable individual to:</div>
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              <div>the disclosure of their information to the Exchange pursuant to this Form or otherwise pursuant to this filing; and</div>
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              <div>the collection, use and disclosure of their information by the Exchange in the manner and for the purposes described in Appendix A or as otherwise identified by the Exchange, from time to time</div>
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      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 54pt; vertical-align: top; align: right;">4.</td>
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              <div>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
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            </td>
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            <td style="width: 54pt; vertical-align: top; align: right;">5.</td>
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              <div>All of the information in this Form 9 Notice of Issuance of Securities is true.</div>
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      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Dated <u>March 15, 2022</u>.</div>
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                <div><u>Oren Shuster</u></div>
                <div>Name of Director or Senior Officer</div>
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            </tr>

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                <div><u>&#8220;</u><font style="font-style: italic;"><u>Oren Shuster</u></font><u>&#8221;</u></div>
                <div>Signature</div>
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              </td>
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                <div><u>Chief Executive Officer</u></div>
                <div>Official Capacity</div>
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        <div style="line-height: 1.25">&#160;</div>
        <div style="line-height: 1.25">
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            <div style="line-height: 1.25;"> <br>
            </div>
            <div style="line-height: 1.25;">
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            <div style="line-height: 1.25">&#160;
              <div style="text-align: center; line-height: 1.25; font-weight: bold;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
              <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
              <div style="text-align: center; line-height: 1.25;">September 2018</div>
              <div style="text-align: center; line-height: 1.25;">Page 8</div>
            </div>
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          <div style="line-height: 1.25;">
            <div style="line-height: 1.25;"><br style="line-height: 1.25;">
            </div>
          </div>
        </div>
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      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Appendix A</div>
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      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">PERSONAL INFORMATION COLLECTION POLICY REGARDING FORM 9</div>
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      <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">The Canadian Securities Exchange and its subsidiaries, affiliates, regulators and agents (collectively, &#8220;CSE or the &#8220;Exchange&#8221;) collect and use the
        information (which may include personal or other information) which has been provided in Form 9 for the following purposes:</div>
      <div style="line-height: 1.25">&#160;</div>
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          <tr>
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            <td style="width: 28.35pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To determine whether an individual is suitable to be associated with a Listed Issuer;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 28.35pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To determine whether an issuer is suitable for listing;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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            </td>
            <td style="width: 28.35pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To determine whether allowing an issuer to be listed or allowing an individual to be associated with a Listed Issuer could give rise to investor protection concerns or could bring the Exchange into disrepute;</div>
            </td>
          </tr>

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      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 28.35pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To conduct enforcement proceedings;</div>
            </td>
          </tr>

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      <div style="line-height: 1.25">&#160;</div>
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            </td>
            <td style="width: 28.35pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To ensure compliance with Exchange Requirements and applicable securities legislation; and</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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          <tr>
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            <td style="width: 28.35pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To fulfil the Exchange&#8217;s obligation to regulate its marketplace.</div>
            </td>
          </tr>

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      <div style="line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">The CSE also collects information, including personal information, from other sources, including but not limited to securities regulatory authorities,
        law enforcement and self-regulatory authorities, regulation service providers and their subsidiaries, affiliates, regulators and agents. The Exchange may disclose personal information to these entities or otherwise as provided by law and they may
        use it for their own investigations.</div>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">The Exchange may use third parties to process information or provide other administrative services. Any third party will be obliged to adhere to the
        security and confidentiality provisions set out in this policy.</div>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">All personal information provided to or collected by or on behalf of The Exchange and that is retained by The Exchange is kept in a secure environment.
        Only those employees who need to know the information for the purposes listed above are permitted access to the information or any summary thereof. Employees are instructed to keep the information confidential at all times.</div>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Information about you that is retained by the Exchange and that you have identified as inaccurate or obsolete will be corrected or removed.</div>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">If you wish to consult your file or have any questions about this policy or our practices, please write the Chief Privacy Officer, Canadian Securities
        Exchange, 220 Bay Street &#8211; 9th Floor, Toronto, ON, M5J 2W4.</div>
      <div style="line-height: 1.25">&#160;</div>
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        <div style="text-align: center; line-height: 1.25; font-weight: bold;">FORM 9 &#8211; NOTICE OF ISSUANCE OR PROPOSED ISSUANCE OF</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold;">LISTED SECURITIES</div>
        <div style="text-align: center; line-height: 1.25;">September 2018</div>
        <div style="text-align: center; line-height: 1.25;">Page 9</div>
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