<SEC-DOCUMENT>0001178913-22-002607.txt : 20220708
<SEC-HEADER>0001178913-22-002607.hdr.sgml : 20220708
<ACCEPTANCE-DATETIME>20220708075040
ACCESSION NUMBER:		0001178913-22-002607
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20220708
FILED AS OF DATE:		20220708
DATE AS OF CHANGE:		20220708

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:		221072844

	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>zk2228105.htm
<DESCRIPTION>6-K
<TEXT>
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    <div style="text-align: center; line-height: 1.25; font-family: Arial;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">UNITED STATES</font><font style="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><font style="font-family: 'Times New Roman',Times,serif;"><br>
      Washington, D.C. 20549<br>
        <br>
        <font style="font-weight: bold; font-size: 14pt;">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></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>July 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 &#9744;&#160;&#160;&#160;&#160;&#160;&#160; Form 40-F &#9746;</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: Arial;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Note</font><font style="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: Arial;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Note</font><font style="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>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</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>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="zcd43b87a5ef04936916857a97055ef78" 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>
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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; font-weight: bold;">IM CANNABIS CORP.</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>
          </td>
          <td style="vertical-align: middle; font-family: 'Times New Roman',Times,serif;" colspan="2">
            <div style="line-height: 1.25;">(Registrant)</div>
          </td>
        </tr>
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            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 41.52%; vertical-align: middle; font-family: 'Times New Roman',Times,serif;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
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            <div style="line-height: 1.25;">&#160;</div>
          </td>
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            <div style="line-height: 1.25;">&#160;</div>
          </td>
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        <tr>
          <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:&#160;&#160; July 8, 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: 44.53%; 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>
          </td>
          <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: 44.53%; 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: 44.53%; 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 style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
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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>
          <td style="width: 90%; 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_99-1.htm">Form 7 - Monthly Progress Report dated July 8, 2022</a></div>
          </td>
        </tr>

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    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
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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="text-align: right; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u> Exhibit 99.1</u><br>
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">FORM 7<br>
      <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; 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; 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; font-family: 'Times New Roman',Times,serif;">Number of Outstanding Listed Securities as of 30/6/2022:</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;">69,695,325 Common Shares</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;">Date: July 8, 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>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div>
      <div style="text-align: justify; margin-left: 36pt; line-height: 1.25; font-weight: bold;">On June 6, 2022, the Issuer granted 28,500 new options to purchase common shares of the Issuer
        exercisable at a price of $1.21 per common share for a period of five years, to certain employees and/or consultants of the Issuer and of a Subsidiary.</div>
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#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="z7d4062bc505b4090896d45f0fb449a4f">

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          <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;"><font style="font-family: 'Times New Roman',Times,serif; 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 Issuer&#8217;s successful completion of strategic acquisitions in Canada and Israel, 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 its subsidiaries and Focus
        Medical Herbs Ltd. (&#8220;Focus Medical&#8221;).</font></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;">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>
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          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">4.</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 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>
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    </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>
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          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">5.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; 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;">IMC Holdings Ltd. (&#8220;IMC&#8221;), an affiliate of the Issuer, entered into an exclusive trademark licensing agreement with
      one of its suppliers, pursuant to which it shall market, sell and distribute cannabis products purchased from such supplier or its subsidiaries under the supplier&#8217;s trademark, in the Israeli medical cannabis market.</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
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        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">6.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>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;">
      <div style="line-height: 1.25; font-weight: bold;">Not Applicable.</div>
      <div style="line-height: 1.25">&#160;</div>
    </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="z0d97439dedc943d0ae073cae37fe8127">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">7.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>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;">Not Applicable.</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#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="z0e446edda06d47b7a30098f2b5e07ce2">

        <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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z937813647b6b48f5b520ef56dce945a2">

        <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;">Not Applicable.</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#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="zdf84084c925d49be85aa5cdeebe98e28">

        <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 June 2022, the Issuer hired 18 employees and 23 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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z92db301486de41c4adbe26e93f26c382">

        <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="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#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="z42b23680b3674115aa1dec0bda0f3253">

        <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: 35.45pt; line-height: 1.25; font-family: Arial;">
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">Further to the Issuer&#8217;s April and May 2022 CSE
          Form 7 Monthly Progress Reports regarding the outstanding loan receivable balance (the &#8220;Loan&#8221;) owing to MYM Nutraceuticals Inc. (&#8220;MYM&#8221;) by Biome Grow Inc. and its
          subsidiary, Cultivator Catalyst Corp. (collectively, &#8220;Biome&#8221;), the parties were unable to settle the ongoing matter. As a result, on June 27, 2022,
          MYM applied to the Ontario Superior Court (the &#8220;Court&#8221;) for a date to hear its application for a receivership of the assets of Biome. The
          Court granted MYM&#8217;s request and scheduled the in-person hearing for the receivership application on September 12, 2022.</font></div>
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: justify; margin-left: 35.45pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
      <div style="line-height: 1.25; font-weight: bold;">The Issuer&#8217;s May
        12, 2022 application for interim order, as previously disclosed
        in the Issuer&#8217;s May 2022 CSE Form 7, was granted and will
        continue in force until the above noted court date of September 12, 2022. This interim order includes, among other things, the freezing of the assets of Biome and any of its subsidiaries, including the assets which comprise MYM&#8217;s collateral for the Loan.</div>
      <div style="line-height: 1.25; font-weight: bold;"> <br>
      </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="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </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="z60ce54c2def6485aa942b04db55d1d91">

        <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="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;"><br style="line-height: 1.25;">
    </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="z9827f8140e6a47d3b1dfd78634db7af2">

        <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" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" id="zb614c92abd03426faba12614d9c99fab">

        <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);">
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">Incentive Stock Options</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: justify; line-height: 1.25; font-weight: bold;">28,500</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: justify; line-height: 1.25; font-family: Arial;"><font style="font-family: 'Times New Roman',Times,serif;">&#160;</font><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Each incentive stock option,
                granted on June 6, 2022, is exercisable for one common share at an exercise price of $1.21 for a period of five years from the grant date.</font></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="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); border-bottom: 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); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; line-height: 1.25; font-weight: bold;">N/A</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); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; line-height: 1.25; font-weight: bold;">N/A</div>
          </td>
          <td style="width: 23.65%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">N/A</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif; font-style: italic;"> <br>
      </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>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#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="z88801059b2134f178010bb9b38be1b56">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">15.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Provide details of any loans to or by Related Persons.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z64ce6fb16349420cb6b7d70079a3b189">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">16.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Provide details of any changes in directors, officers or committee members.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za1a30479f76e42f9b945714b9dac49cb">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">17.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <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>
          </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;">The Issuer 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>
    <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;">Global economies are currently experiencing elevated inflation which could curtail levels of economic activity,
      including in Issuer&#8217;s primary production markets. This inflation is predominantly driven by costs of goods as input costs continue to increase with the overall increase in costs caused by several external factors including but not limited to general
      uncertainties caused by the Ukraine war, the global supply chain constrictions and rising energy prices. As such, delivery and distribution costs, utility costs and other necessary supplies at an economic cost cannot be assured. These are integral
      requirements for the Issuer&#8217;s business and it is reasonable to expect that inflation, supply shortages or increases in demand could impact the Issuer&#8217;s future economic performance and competitiveness, as it may entail a meaningful increase in costs
      for various goods and services that the Issuer may not be able to pass onto patients or customers. In addition, the operations of the Issuer could be affected by the economic context should interest rates, inflation or unemployment levels reach
      levels that consumer trends and spending and, consequently, impact the sales and profitability of the Issuer.</div>
    <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;">The war in Ukraine 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>
    <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="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;">The undersigned hereby certifies that:</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#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="z9f553a4af26741d5b2662529cdb57ffc">

        <tr>
          <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>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 style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#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="zebdc7aedadac42c3a94b7228d9453d71">

        <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>As of the date hereof there were no material information concerning the Issuer which has not been publicly disclosed.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#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="z4617d2cd7e2f46c88300a8cb9bcb5198">

        <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>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 style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#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="z628e7d6ac0b24dd9bc27721ec23d045e">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">4.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>All of the information in this Form 7 Monthly Progress Report is true.</div>
          </td>
        </tr>

    </table>
    <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;">Dated: July 8, 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;">
      <table cellspacing="0" cellpadding="0" border="0" id="z6241cdc8bda8456d904d935551c3ce2e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

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

      </table>
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"> <br>
    </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="z247c66fd41984b3e8f4aa370195dc876">

        <tr>
          <td style="width: 45.81%; 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: italic; font-weight: bold;">Issuer Details</div>
            <div style="line-height: 1.25;">Name of Issuer</div>
            <div style="line-height: 1.25;"> <br>
            </div>
            <div style="line-height: 1.25;">IM Cannabis Corp.</div>
          </td>
          <td style="width: 23.92%; 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;">For Month End</div>
            <div style="line-height: 1.25;">June 2022</div>
          </td>
          <td style="width: 30.26%; 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;">Date of Report</div>
            <div style="line-height: 1.25;">YY/MM/D</div>
            <div style="line-height: 1.25;">2022/07/08</div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="width: 100%; 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;">Issuer Address</div>
            <div style="line-height: 1.25;">550 Burrard Street, Suite 2300, Bentall 5</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.81%; 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;">City/Province/Postal Code</div>
            <div style="line-height: 1.25;">Vancouver, BC V6C 2B5</div>
          </td>
          <td style="width: 23.92%; 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;">Issuer Fax No.</div>
            <div style="line-height: 1.25;">(&#160; &#160;&#160; )</div>
          </td>
          <td style="width: 30.26%; 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;">Issuer Telephone No.</div>
            <div style="line-height: 1.25;">+972 546687515</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.81%; 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;">Contact Name</div>
            <div style="line-height: 1.25;">Yael Harrosh</div>
          </td>
          <td style="width: 23.92%; 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;">Contact Position</div>
            <div style="line-height: 1.25;">Global Chief Legal and Operations Officer</div>
          </td>
          <td style="width: 30.26%; 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;">Contact Telephone No.</div>
            <div style="line-height: 1.25;">+972 546687515</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.81%; 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;">Contact Email Address</div>
            <div style="line-height: 1.25;"><u>yael.h@imcannabis.com</u></div>
          </td>
          <td colspan="2" style="width: 54.19%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="line-height: 1.25;">Web Site Address</div>
            <div style="line-height: 1.25;"><u>http://www.imcannabis.com/</u></div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
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