<SEC-DOCUMENT>0001178913-22-001442.txt : 20220407
<SEC-HEADER>0001178913-22-001442.hdr.sgml : 20220407
<ACCEPTANCE-DATETIME>20220407071431
ACCESSION NUMBER:		0001178913-22-001442
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20220407
FILED AS OF DATE:		20220407
DATE AS OF CHANGE:		20220407

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:		22812285

	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>zk2227604.htm
<DESCRIPTION>6-K
<TEXT>
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    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold;">UNITED STATES</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;"><br>
      </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;"><br>
      Washington, D.C. 20549<br>
        <br>
        <font style="font-weight: bold; font-size: 14pt;">Form 6-K</font><br style="line-height: 1.25;">
        <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></font></div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">For the month of <font style="font-weight: bold;"><u>April 2022</u></font>.</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Commission File Number: <font style="font-weight: bold;"><u>001-40065</u></font></div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br>
      <font style="font-weight: bold; font-size: 16pt;"><u>IM Cannabis Corp.</u></font><br>
      (Exact Name of Registrant as Specified in Charter)<br>
      <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; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">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; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Form 20-F&#160; &#9744;&#160; Form 40-F &#8864;</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">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; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold;">Note</font><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif;">: 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.</font></div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">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; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold;">Note</font><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif;">: 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.</font></div>
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    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">SIGNATURE</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">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>
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            <div style="line-height: 1.25;">&#160;</div>
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          <td style="vertical-align: middle; font-family: 'Times New Roman',Times,serif;" colspan="2">
            <div style="line-height: 1.25; font-weight: bold;">IM CANNABIS CORP.</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>
          </td>
          <td style="vertical-align: middle; font-family: 'Times New Roman',Times,serif;" colspan="2">
            <div style="line-height: 1.25;">(Registrant)</div>
          </td>
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            <div style="line-height: 1.25;">&#160;</div>
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          <td style="width: 41.52%; vertical-align: middle; font-family: 'Times New Roman',Times,serif;">
            <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 style="line-height: 1.25;">&#160;</div>
          </td>
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          <td style="width: 7.51%; vertical-align: middle; font-family: 'Times New Roman',Times,serif;" rowspan="1" colspan="2">
            <div style="line-height: 1.25;">Date: April 7, 2022</div>
          </td>
          <td style="width: 4%; vertical-align: middle; font-family: 'Times New Roman',Times,serif;">
            <div style="line-height: 1.25;">By:</div>
          </td>
          <td style="width: 46%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div style="line-height: 1.25; font-style: italic;">/s/ Oren Shuster</div>
          </td>
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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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          <td style="width: 4%; vertical-align: middle; font-family: 'Times New Roman',Times,serif;">
            <div style="line-height: 1.25;">Name:</div>
          </td>
          <td style="width: 46%; vertical-align: middle; font-family: 'Times New Roman',Times,serif;">
            <div style="line-height: 1.25;">Oren Shuster</div>
          </td>
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            <div style="line-height: 1.25;">&#160;</div>
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          <td style="width: 41.52%; vertical-align: middle; font-family: 'Times New Roman',Times,serif;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 4%; vertical-align: middle; font-family: 'Times New Roman',Times,serif;">
            <div style="line-height: 1.25;">Title:</div>
          </td>
          <td style="width: 46%; vertical-align: middle; font-family: 'Times New Roman',Times,serif;">
            <div style="line-height: 1.25;">Chief Executive Officer and Director</div>
          </td>
        </tr>

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    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>EXHIBIT INDEX</u></div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
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            <div style="line-height: 1.25;"><a href="exhibit_99-1.htm">99.1</a></div>
          </td>
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            <div style="line-height: 1.25;"><a href="exhibit_99-1.htm">Form 7 - Monthly Progress Report dated April 7, 2022</a></div>
          </td>
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            <div style="line-height: 1.25;"><a href="exhibit_99-2.htm">99.2</a></div>
          </td>
          <td style="width: 95%; vertical-align: middle; background-color: rgb(238, 238, 238); font-family: 'Times New Roman',Times,serif;">
            <div style="line-height: 1.25;"><a href="exhibit_99-2.htm">Form 10 &#8211; Notice of Proposed Significant Transaction&#160; dated April 7, 2022</a></div>
          </td>
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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;"><br style="line-height: 1.25;">
      </div>
    </div>
    <div style="text-align: center; line-height: 1.25; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">FORM 7<br style="line-height: 1.25;">
      <br>
      <u>MONTHLY PROGRESS REPORT</u></div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="line-height: 1.25; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Name of Listed Issuer: IM Cannabis Corp. (the &#8220;Issuer&#8221; or &#8220;IMC&#8221;).</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="line-height: 1.25; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Trading Symbol: IMCC</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="line-height: 1.25; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Number of Outstanding Listed Securities as of 31/3/2022:</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="line-height: 1.25; font-family: Arial, sans-serif; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; color: rgb(0, 0, 0);">69,690,151</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; color: rgb(85, 85, 85);">&#160;</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; color: rgb(0, 0, 0);">Common Shares</font></div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="line-height: 1.25; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Date: April 7, 2022</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Report on Business</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
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          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">1.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Provide a general overview and discussion of the development of the Issuer&#8217;s business and operations over the previous month. Where the Issuer was inactive disclose this fact.</div>
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    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div style="font-weight: bold;">On March 15, 2022, after receiving all requisite regulatory approvals, including from the Israeli Medical Cannabis Agency (&#8220;IMCA&#8221;), the Issuer announced the completion of the following strategic acquisitions,
              each as previously announced in 2021:</div>
          </td>
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    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
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          </td>
          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">o</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div style="font-weight: bold;">IMC Holdings Ltd. (&#8220;IMC Holdings&#8221;) successfully completed the acquisition of 51% of the outstanding ordinary shares of Revoly Trading and Marketing Ltd., dba Vironna (&#8220;Vironna&#8221;), as first announced on August 16,
              2021 (the &#8220;Vironna Transaction&#8221;). The aggregate consideration for the Vironna 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$1.37 million) in common shares of the Issuer (the &#8220;Vironna Consideration Shares&#8221;). The Issuer issued 485,362 Vironna Consideration Shares on March 14, 2022 at a deemed issue price of US$2.209 (approximately CAD$2.809) per
              Vironna Consideration Share, calculated based on the average closing price of the Issuer&#8217;s common shares on the Nasdaq Capital Market (the &#8220;NASDAQ&#8221;) over the 14 trading day period immediately preceding closing of the Vironna Transaction.</div>
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          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">o</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div style="font-weight: bold;">IMC Holdings completed the acquisition of all the outstanding ordinary shares of (1) R.A. Yarok Pharm Ltd. (&#8220;Pharm Yarok&#8221;), a leading medical cannabis pharmacy located in central Israel; and (2) Rosen High Way
              Ltd. (&#8220;Rosen High Way&#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;Pharm
              Yarok Transaction&#8221;), as first announced on July 28, 2021. The acquisition of the outstanding ordinary shares of High Way Shinua Ltd., an applicant for a medical cannabis transportation license, is pending receipt of the requisite approval
              from the IMCA. Pursuant to the definitive agreement for the Pharm Yarok Transaction, the former shareholders of Pharm Yarok and Rosen High Way 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, 2022, the Issuer completed the non-brokered private placement whereby the Issuer issued 523,700 common shares (the &#8220;Pharm Yarok Private Placement Shares&#8221;) at a deemed price of
              CAD$2.616 for aggregate proceeds of CAD$1,369,999.20. The deemed price of the Pharm Yarok Private Placement Shares was calculated 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.</div>
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    <table cellspacing="0" cellpadding="0" id="z80d9416b59754b8b99c3d678b83591f5" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 72pt; font-family: 'Times New Roman',Times,serif;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">o</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div style="font-weight: bold;">Lastly, IMC Holdings acquired an IMC-GDP license for the distribution of medical cannabis (the &#8220;Panaxia GDP License&#8221;) from Panaxia Pharmaceutical Industries Israel Ltd. and Panaxia Logistics Ltd., part of the
              Panaxia Labs Israel, Ltd. group of companies (collectively, &#8220;Panaxia&#8221;). The Panaxia GDP License was acquired on March 14, 2022 (the &#8220;Panaxia GDP License Closing&#8221;) pursuant to the definitive agreement first announced by the Company on April
              30, 2021 (the &#8220;Panaxia Transaction&#8221;) and assigned to I.M.C. Pharma Ltd. (&#8220;IMC Pharma&#8221;), a wholly-owned Israeli subsidiary of IMC Holdings, in accordance with the terms of the transaction. The aggregate consideration for the Panaxia
              Transaction was NIS 18.7 million (approximately CAD$7.2 million), of which NIS 7.6 million (approximately CAD$2.9 million) was paid in two cash instalments and NIS 11.1 million (approximately CAD$4.3 million) payable in common shares of IM
              Cannabis (&#8220;Panaxia Consideration Shares&#8221;). 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, 2021 and November 16, 2021. The fifth
              and final instalment of Panaxia 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;Panaxia Pharmacy Closing&#8221;). The Panaxia Pharmacy Closing is expected to occur in Q3 2022.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z1b06ca3fd2b14ec28977c6f10b398c47" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; font-family: 'Times New Roman',Times,serif;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: Arial, sans-serif; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold;">On March 28, 2022, IMC Holdings completed the strategic acquisition of 51% of
                the rights in Oranim Pharm Partnership (&#8220;Oranim Pharm&#8221;) (the &#8220;Oranim Transaction&#8221;). Oranim Pharm is one of the largest pharmacies selling medical cannabis in Israel and the largest pharmacy selling medical cannabis in the Jerusalem area.</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">&#160;</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold;">The closing of the Oranim Transaction occurred on
                March 28, 2022, upon the receipt of all requisite approvals. The aggregate consideration for the Oranim Transaction was approximately NIS 11.94 million (approximately CAD$4.6 million), consisting of approximately NIS 5.2 million
                (approximately CAD$2 million) paid in cash at signing of the definitive agreement, NIS 1.54 million (approximately CAD$0.6 million) in common shares of the Issuer (the &#8220;Oranim Consideration Shares&#8221;) and approximately NIS 5.2 million
                (approximately CAD$2 million) in cash to be paid during Q1 2023. The Issuer issued 251,001 Oranim Consideration Shares on March 30, 2022, at a deemed issue price of US$1.899 (approximately CAD$2.37) per Oranim Consideration Share,
                calculated based on the average closing price of the Issuer&#8217;s common shares on the NASDAQ over the 14 trading day period immediately preceding March 28, 2022.</font></div>
          </td>
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    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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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>
    <table cellspacing="0" cellpadding="0" id="zac7c7b56ddaa44218e7f2a235760db03" 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: 36pt; font-family: 'Times New Roman',Times,serif;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div style="font-weight: bold;">On March 31, 2022, the Issuer announced financial results for the three months and fiscal year ended December 31, 2021 and provided a Q1 2022 outlook.</div>
          </td>
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    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z1d8e697b8ff64f148061a79a739008f5" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">2.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Provide a general overview and discussion of the activities of management.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; margin-left: 36pt; line-height: 1.25; font-family: Arial, sans-serif; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold;">Management of the Issuer
        (&#8220;Management&#8221;) is focused on continuing the Issuer&#8217;s growth in all three markets in which it currently operates: Israel, Germany and Canada. Following the successful completion of the acquisition of the Canadian entities, Trichome Financial Corp.
        (&#8220;Trichome&#8221;) and MYM, and the strategic Israeli acquisitions of Vironna, Pharm Yarok, Panaxia and Oranim Pharm, Management is focused on integrating and managing its international assets and supply chain in order to maximize company-wide revenue
        and margins, and continues to focus on its entry into the medical cannabis distribution and retail segments in Israel. Management also continues to identify and pursue new strategic investments and growth opportunities in Israel and Europe,
        including, but not limited to, securing additional supply, distribution and sale agreements in Germany through Adjupharm GmbH (&#8220;Adjupharm&#8221;) and in Israel through Focus Medical</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">&#160;</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold;">Herbs Ltd. (&#8220;Focus Medical&#8221;).</font></div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z1446be5ce9ee495ebdd3261a7a15eec4" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">3.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Describe and provide details of any new products or services developed or offered. For resource companies, provide details of new drilling, exploration or production programs and acquisitions of any new properties and attach any mineral or
              oil and gas or other reports required under Ontario securities law.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Not Applicable.</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z93b24739f5684485b7dc6fb664cf68ef" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">4.</td>
          <td style="width: auto; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Describe and provide details of any products or services that were discontinued. For resource companies, provide details of any drilling, exploration or production programs that have been amended or abandoned.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Not Applicable.</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z2b399e8953b54a10ac7e82e77ca49515" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">5.</td>
          <td style="width: auto; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Describe any new business relationships entered into between the Issuer, the Issuer&#8217;s affiliates or third parties including contracts to supply products or services, joint venture agreements and licensing agreements etc. State whether the
              relationship is with a Related Person of the Issuer and provide details of the relationship.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Not Applicable.</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; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z5db060e410bf4f29b23706cb78974cc7" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">6.</td>
          <td style="width: auto; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="color: rgb(0, 0, 0);">Describe the expiry or termination of any contracts or agreements between the Issuer, the Issuer&#8217;s affiliates or third parties or cancellation of any financing arrangements that have been previously announced.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">On March 6, 2022, Focus Medical and Ever Green Solomon Pharma Ltd (&#8220;Ever Green&#8221;) agreed to
      mutually terminate the supply agreement entered on July 24, 2020. Focus Medical will not be required to purchase additional quantities under this supply agreement. The Issuer does not expect any adverse effect of such termination due to its other
      quality sources of cannabis products, such as imported products from its Canadian cultivation facilities and other third party supply partners.</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z62c7029d74ef4ad3bb8c38ff3bc4bebb" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">7.</td>
          <td style="width: auto; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="color: rgb(0, 0, 0);">Describe any acquisitions by the Issuer or dispositions of the Issuer&#8217;s assets that occurred during the preceding month. Provide details of the nature of the assets acquired or disposed of and provide details
              of the consideration paid or payable together with a schedule of payments if applicable, and of any valuation. State how the consideration was determined and whether the acquisition was from or the disposition was to a Related Person of the
              Issuer and provide details of the relationship.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Please see Section 1 regarding the completion of the Vironna Transaction, Pharm Yarok
      Transaction, Oranim Transaction and Panaxia Transaction.</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="za55752ce874d498586d75a6ae6c07778" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">8.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Describe the acquisition of new customers or loss of customers.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Not Applicable.</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z88e834be69fc4eaf802c979a6909282e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">9.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Describe any new developments or effects on intangible products such as brand names, circulation lists, copyrights, franchises, licenses, patents, software, subscription lists and trade-marks.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In connection with the strategic acquisitions described in Section 1, the Issuer acquired
      three IMC-GDP licenses to dispense and sell medical cannabis to licensed medical cannabis patients through pharmacies and two IMC-GDP licenses to operate trading houses.</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="zcad357811eb44ad6970e0ca552f94a7c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">10.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Report on any employee hirings, terminations or lay-offs with details of anticipated length of lay-offs.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In March 2022, the Issuer hired 23 employees and 22 resignations or terminations of
      employees occurred.</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="zc9432db1064d418494ca8cf236291ae0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">11.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Report on any labour disputes and resolutions of those disputes if applicable.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Not Applicable.</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; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="za2498d821a5447da8ba3990d62e456e8" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">12.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Describe and provide details of legal proceedings to which the Issuer became a party, including the name of the court or agency, the date instituted, the principal parties to the proceedings, the nature of the claim, the amount claimed, if
              any, if the proceedings are being contested, and the present status of the proceedings.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Not Applicable.</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z5c91e09b99344043b0e141007785b5cd" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">13.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Provide details of any indebtedness incurred or repaid by the Issuer together with the terms of such indebtedness.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Not Applicable.</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="zc1e57925f4364ab09b50594431faa5f3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">14.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Provide details of any securities issued and options or warrants granted.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <table cellspacing="0" cellpadding="2" border="0" id="z30e3582e48b348aa9afb34dc423fa401" 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: 27.18%; 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-weight: bold;">Security</div>
          </td>
          <td style="width: 17.19%; 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-weight: bold;">Number Issued</div>
          </td>
          <td style="width: 31.99%; 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-weight: bold;">Details of Issuance</div>
          </td>
          <td style="width: 23.65%; 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-weight: bold;">Use of Proceeds<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.18%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">Common Shares</div>
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          <td style="width: 17.19%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">251,001</div>
          </td>
          <td style="width: 31.99%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25; font-weight: bold;">Issued to Oranim securityholders as consideration for the Oranim Transaction, as further detailed in Section 1 above.</div>
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          <td style="width: 23.65%; 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); background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25; font-weight: bold;">N/A</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.18%; 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-weight: bold;">Common Shares</div>
          </td>
          <td style="width: 17.19%; 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-weight: bold;">485,362</div>
          </td>
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            <div style="line-height: 1.25; font-weight: bold;">Issued to Vironna securityholders as consideration for the Vironna Transaction, as further detailed in Section 1 above.</div>
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            <div style="line-height: 1.25; font-weight: bold;">N/A</div>
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            <div style="text-align: center; line-height: 1.25; font-weight: bold;">Common Shares</div>
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            <div style="text-align: center; line-height: 1.25; font-weight: bold;">523,700</div>
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            <div style="line-height: 1.25; font-weight: bold;">Issued to subscribers to a non-brokered private placement completed concurrently with the closing of Pharm Yarok Transaction, as further detailed in Section 1 above.</div>
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            <div style="line-height: 1.25; font-weight: bold;">CAD$1,369,999</div>
            <div style="line-height: 1.25; font-weight: bold;">to be used for working capital</div>
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      </font></div>
    <div style="text-align: justify; line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif; font-style: italic;">(1)</font><font style="font-family: 'Times New Roman',Times,serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">State aggregate proceeds and intended allocation of proceeds.</font></font></div>
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          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">15.</td>
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            <div>Provide details of any loans to or by Related Persons.</div>
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    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Not Applicable.</div>
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          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">16.</td>
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            <div>Provide details of any changes in directors, officers or committee members.</div>
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        </tr>

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    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Rinat Efrima, who was appointed as the Chief Executive Officer of IMC Holdings, the
      Issuer&#8217;s wholly-owned Israeli subsidiary, took office on March 1, 2022. Additional information on Ms. Efrima&#8217;s appointment can be found in the Issuer&#8217;s Form 7 from January 2022.</div>
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          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">17.</td>
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            <div>Discuss any trends which are likely to impact the Issuer including trends in the Issuer&#8217;s market(s) or political/regulatory trends.</div>
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    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; margin-left: 36pt; line-height: 1.25; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">The Issuer has taken proactive measures to protect the health and
      safety of its employees in respect of COVID-19 in order to continue delivering high quality medical cannabis products to its patients and to maintain its financial health. The Issuer has postponed planned investments in certain jurisdictions until
      global economic risks subside, but it continues to focus on its acquisition strategy in Canada and Europe while enhancing organizational efficiency and the reduction of operating costs . The Issuer also continues to develop the IMC brand by
      increasing physician awareness and engagement to drive sales of IMC-branded medical cannabis products in Germany and by seeking new supply and sales agreements in Israel.</div>
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    <div style="text-align: justify; margin-left: 36pt; line-height: 1.25; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">While the precise impact of the COVID-19 outbreak on the Issuer
      remains unknown, the rapid spread of COVID-19 and declaration of the outbreak as a global pandemic have resulted in travel advisories and restrictions, certain restrictions on business operations, social distancing precautions and restrictions on
      group gatherings which could have negative impact on businesses around the world, including the cannabis markets in which the Issuer and its subsidiaries and related companies operate. Such implications may also affect Trichome&#8217;s debtors, including
      their respective abilities to repay their obligations. The spread of COVID-19 and conflict in Eastern Europe may also have a material adverse effect on global economic activity and could result in volatility and disruption to global supply chains and
      the financial and capital markets. These disruptions could cause interruptions in supplies and other services from third parties upon which the Issuer relies; decrease demand for products; and cause staff shortages, reduced customer traffic, and
      increased government regulation, all of which may materially and negatively impact the business, financial condition and results of operations of the Issuer, its subsidiaries and Focus Medical.</div>
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    <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">The undersigned hereby certifies that:</div>
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          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">1.</td>
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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.</div>
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          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">2.</td>
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            <div>As of the date hereof there were no material information concerning the Issuer which has not been publicly disclosed.</div>
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          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">3.</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 defined
              in CNSX Policy 1).</div>
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    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
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          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">4.</td>
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            <div>All of the information in this Form 7 Monthly Progress Report is true.</div>
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    <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Dated: <font style="color: rgb(0, 0, 0);">April 7, 2022</font></div>
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                <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt;"><font style="font-size: 10pt;"><u>Oren Shuster</u><br>
                  Name of Director or Senior Officer</font></div>
                <div style="font-family: 'Times New Roman',Times,serif;"> <br>
                </div>
                <font style="font-family: 'Times New Roman',Times,serif;">&#8220;<font style="font-style: italic;"><u>Oren Shuster</u></font><u>&#8221;</u></font></div>
              <div> <font style="font-family: 'Times New Roman',Times,serif;">Signature</font></div>
              <div> <font style="font-family: 'Times New Roman',Times,serif;"><br>
                </font></div>
              <div style="text-align: left; line-height: 1.25;"> <font style="font-family: 'Times New Roman',Times,serif;"><u>Chief Executive Officer</u>&#160;&#160; <br>
                  Official Capacity</font></div>
              <div> <u></u>
                <div><u> </u></div>
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            <div style="line-height: 1.25; font-style: italic; font-weight: bold;">Issuer Details</div>
            <div style="line-height: 1.25;">Name of Issuer</div>
            <div style="line-height: 1.25;">IM Cannabis Corp.</div>
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            <div style="line-height: 1.25;">For Month End</div>
            <div style="line-height: 1.25; color: rgb(0, 0, 0);">March 2022</div>
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            <div style="line-height: 1.25;">Date of Report</div>
            <div style="line-height: 1.25;">YY/MM/D</div>
            <div style="line-height: 1.25; color: rgb(0, 0, 0);">2022/04/07</div>
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            <div style="line-height: 1.25;">Issuer Address</div>
            <div style="line-height: 1.25;">550 Burrard Street, Suite 2300, Bentall 5</div>
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            <div style="line-height: 1.25;">City/Province/Postal Code</div>
            <div style="line-height: 1.25;">Vancouver, BC V6C 2B5</div>
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            <div style="line-height: 1.25;">Issuer Fax No.</div>
            <div style="line-height: 1.25;">(&#160; &#160;&#160; )</div>
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            <div style="line-height: 1.25;">Issuer Telephone No.</div>
            <div style="line-height: 1.25; color: rgb(0, 0, 0);">+972 546687515</div>
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            <div style="line-height: 1.25;">Contact Name</div>
            <div style="line-height: 1.25;">Yael Harrosh</div>
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            <div style="line-height: 1.25;">Contact Position</div>
            <div style="line-height: 1.25;">Global Chief Legal and Operations Officer</div>
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            <div style="line-height: 1.25;">Contact Telephone No.</div>
            <div style="line-height: 1.25; color: rgb(0, 0, 0);">+972 546687515</div>
          </td>
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            <div style="line-height: 1.25;">Contact Email Address</div>
            <div style="line-height: 1.25; color: rgb(5, 99, 193);"><u>yael.h@imcannabis.com</u></div>
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            <div style="line-height: 1.25;">Web Site Address</div>
            <div style="line-height: 1.25; color: rgb(5, 99, 193);"><u>http://www.imcannabis.com/</u></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: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">FORM 10<br>
      <br>
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    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">NOTICE OF PROPOSED SIGNIFICANT TRANSACTION (not involving <u></u></div>
    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;"><u>an issuance or potential issuance of
          a listed security)</u><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
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    <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">Name of Listed Issuer: <font style="font-weight: bold;"><u>IM Cannabis
          Corp.</u></font> (the &#8220;Issuer&#8221;).</div>
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    <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">Trading Symbol: IMCC.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">Issued and Outstanding Securities of the Issuer Prior to Transaction: <u>69,690,151.</u></div>
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    <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">Date of News Release Fully Disclosing the Transaction: <u>April
          6, 2022</u>.</div>
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              <div style="text-align: justify; line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">Provide details of the transaction including the date, description and location of assets, if applicable, parties to
                and type of agreement (eg: sale, option, license, contract for Investor Relations Activities etc.) and relationship to the Issuer. The disclosure should be sufficiently complete to enable a reader to appreciate the significance of the
                transaction without reference to any other material: <font style="font-weight: bold;">N/A.</font></div>
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    <div style="text-align: justify; margin-left: 54pt; line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">Provide the following information in relation to the total consideration for the transaction (including
      details of all cash, non-convertible debt securities or other consideration) and any required work commitments:</div>
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              <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">Total aggregate consideration in Canadian dollars:<font style="font-weight: bold;"> N/A</font>.</div>
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              <div style="margin-left: 54pt; line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">(b)</div>
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            <td style="width: auto; vertical-align: top;">
              <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">Cash:<font style="font-weight: bold;"> N/A</font>.</div>
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              <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">Other:<font style="font-weight: bold;"> N/A</font>.</div>
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              <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">Work commitments:<font style="font-weight: bold;"> N/A</font>.</div>
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    <div>
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            <td style="width: auto; vertical-align: top;">
              <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">State how the purchase or sale price and the terms of any agreement were determined (e.g. arm&#8217;s-length negotiation,
                independent committee of the Board, third party valuation etc).</div>
            </td>
          </tr>

      </table>
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    <div style="line-height: 1.25">&#160;</div>
    <div style="margin-left: 54pt; line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">N/A.</div>
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        <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; font-family: 'Times New Roman', serif;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> If the transaction involved the issuance of securities, other than debt securities that are not convertible into listed
          securities, use Form 9.</div>
        <div style="line-height: 1.25; font-family: 'Times New Roman', serif;"> <br>
        </div>
        <div style="line-height: 1.25; font-family: 'Times New Roman', serif;">
          <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; font-family: 'Times New Roman', serif;">
          <div style="text-align: center; line-height: 1.25; font-family: Arial, sans-serif; font-weight: bold;">FORM 10 - NOTICE OF PROPOSED</div>
          <div style="text-align: center; line-height: 1.25; font-family: Arial, sans-serif; font-weight: bold;">SIGNIFICANT TRANSACTION</div>
          <div style="text-align: center; line-height: 1.25; font-family: Arial, sans-serif; font-size: 8pt;">January2015</div>
          <div style="text-align: center; line-height: 1.25; font-family: Arial, sans-serif; font-size: 8pt;">Page <font id="DSPFPageNumber">1</font></div>
        </div>
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          <div style="page-break-after: always;" id="DSPFPageBreak">
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">Provide details of any appraisal or valuation of the subject of the transaction known to management of the Issuer:<font style="font-weight: bold;"> N/A</font>.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">If the transaction is an acquisition, details of the steps taken by the Issuer to ensure that the vendor has good
                title to the assets being acquired: <font style="font-weight: bold;">N/A.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', serif;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', serif;">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 transaction (including warrants, options, etc.): <font style="font-weight: bold; color: #000000;">N/A.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="line-height: 1.25">&#160;
      <div style="line-height: 1.25;">
        <div style="margin-left: 54pt;">
          <table cellspacing="0" cellpadding="0" border="0" align="left" style="width: 90%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

              <tr>
                <td style="width: 3%; vertical-align: top;"><font style="font-family: 'Times New Roman', serif;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
                <td style="width: 97%; vertical-align: top;" rowspan="1">
                  <div>Details of any dealer, agent, broker or other person receiving compensation in connection with the transaction (name, address. If a corporation, identify persons owning or exercising voting control over 20% or more of the voting
                    shares if known to the Issuer): ______________________________________________________________________________. </div>
                </td>
              </tr>

          </table>
        </div>
      </div>
    </div>
    <div style="line-height: 1.25; clear: both;">&#160;</div>
    <div style="line-height: 1.25;">
      <div style="margin-left: 54pt;">
        <table cellspacing="0" cellpadding="0" border="0" align="left" id="zb0d9b09f6f664a108a78fa85f8f33d6e" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 90%; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td style="width: 3%; vertical-align: top;"><font style="font-family: 'Times New Roman', serif;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
              <td style="width: 97%; vertical-align: top;" rowspan="1"><font style="font-family: 'Times New Roman', serif;">Cash</font>&#160; _________________________________________________________________________.<br>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
    </div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;">
      <div style="margin-left: 54pt;">
        <table cellspacing="0" cellpadding="0" align="left" id="z715f03cb62c842b4a39a97ec1c7ca76a" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 90%; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td style="width: 3%; vertical-align: top;"><font style="font-family: 'Times New Roman', serif;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
              <td style="width: 97%; vertical-align: top;" rowspan="1"><font style="font-family: 'Times New Roman', serif;">Other</font> _________________________________________________________________________. <br>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z321992e770614a708fd579661dbb2e37" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">6.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">State whether the vendor, sales agent, broker or other person receiving compensation in connection with the transaction
                is a Related Person or has any other relationship with the Issuer and provide details of the relationship.<font style="font-weight: bold;"> N/A</font>.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">7.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">If applicable, indicate whether the transaction is the acquisition of an interest in property contiguous to or
                otherwise related to any other asset acquired in the last 12 months. <font style="font-weight: bold;">N/A.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="line-height: 1.25; color: #000000; font-family: 'Century Gothic', sans-serif; font-weight: bold;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">Development</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">Provide details of the development.&#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>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">On April 6, 2022, the Issuer announced Focus Medical Herbs Ltd. (&#8220;Focus Medical&#8221;), an arm&#8217;s length entity with which the
      Company has commercial agreements to cultivate and distribute products under the Company&#8217;s brand, will close the Sde Avraham cultivation farm in Israel during the second quarter of 2022.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">The closure by Focus Medical of the Sde Avraham cultivation farm is intended to allow the Issuer to enhance organizational
      efficiency and reduce operating costs and leverage its fully-licensed import-export supply chain for the import of medical cannabis from the Issuer&#8217;s subsidiaries in Canada and from other third party suppliers. Focus Medical will continue to
      concentrate on purchasing medical cannabis from third-party cultivation facilities in Israel and will rely on its existing inventory of proprietary genetics.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', serif;">According to accounting criteria in IFRS 10, the Issuer is viewed as effectively exercising control over Focus Medical, and therefore, the
      accounts of Focus Medical are consolidated with those of the Issuer.</div>
    <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', serif;"><br>
      <div>
        <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>
        <div style="text-align: center; line-height: 1.25; font-family: Arial, sans-serif; font-weight: bold;">FORM 10 - NOTICE OF PROPOSED</div>
        <div style="text-align: center; line-height: 1.25; font-family: Arial, sans-serif; font-weight: bold;">SIGNIFICANT TRANSACTION</div>
        <div style="text-align: center; line-height: 1.25; font-family: Arial, sans-serif; font-size: 8pt;">January2015</div>
        <div style="text-align: center; line-height: 1.25; font-family: Arial, sans-serif; font-size: 8pt;">Page 2</div>
      </div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;"><font style="font-family: 'Times New Roman', serif; font-weight: bold;">3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', serif; font-weight: bold;">Certificate
        Of Compliance</font></div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman', serif;">The undersigned hereby certifies that:</div>
    <div>
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          <tr>
            <td style="width: 36pt; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', serif;">1.</div>
            </td>
            <td style="vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', serif;">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.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr>
            <td style="width: 36pt; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', serif;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25; color: #000000; font-family: 'Times New Roman', serif;">To the knowledge of the Issuer, at the time an agreement in principle was reached, no party to the transaction had
                knowledge of any undisclosed material information relating to the Issuer, other than in relation to the transaction.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr>
            <td style="width: 36pt; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', serif;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', serif;">As of the date hereof there is no material information concerning the Issuer which has not been publicly disclosed.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr>
            <td style="width: 36pt; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', serif;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', serif;">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 CNSX Policy 1).</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr>
            <td style="width: 36pt; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', serif;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', serif;">All of the information in this Form 10 Notice of Proposed Significant Transaction is true.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; line-height: 1.25;"><font style="font-family: 'Times New Roman', serif;">Dated <u>April 7, 2022</u></font><u>.</u><br>
    </div>
    <div style="text-align: justify; line-height: 1.25;"><u> </u><br>
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            <tr>
              <td style="width: 50.00%;">
                <div>&#160;</div>
              </td>
              <td style="width: 50%;">
                <div>
                  <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt;"><font style="font-size: 10pt;"><u>Oren Shuster</u><br>
                    Name of Director or Senior Officer</font></div>
                  <div style="font-family: 'Times New Roman',Times,serif;"> <br>
                  </div>
                  <font style="font-family: 'Times New Roman',Times,serif;">&#8220;<font style="font-style: italic;"><u>Oren Shuster</u></font><u>&#8221;</u></font></div>
                <div> <font style="font-family: 'Times New Roman',Times,serif;">Signature</font></div>
                <div> <font style="font-family: 'Times New Roman',Times,serif;"><br>
                  </font></div>
                <div style="text-align: left; line-height: 1.25;"> <font style="font-family: 'Times New Roman',Times,serif;"><u>Chief Executive Officer</u>&#160;&#160; <br>
                    Official Capacity</font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="line-height: 1.25">&#160;</div>
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      <div style="text-align: center; line-height: 1.25; font-family: Arial, sans-serif; font-weight: bold;">FORM 10 - NOTICE OF PROPOSED</div>
      <div style="text-align: center; line-height: 1.25; font-family: Arial, sans-serif; font-weight: bold;">SIGNIFICANT TRANSACTION</div>
      <div style="text-align: center; line-height: 1.25; font-family: Arial, sans-serif; font-size: 8pt;">January2015</div>
      <div style="text-align: center; line-height: 1.25; font-family: Arial, sans-serif; font-size: 8pt;">Page 3</div>
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