<SEC-DOCUMENT>0001178913-22-004309.txt : 20221212
<SEC-HEADER>0001178913-22-004309.hdr.sgml : 20221212
<ACCEPTANCE-DATETIME>20221212070438
ACCESSION NUMBER:		0001178913-22-004309
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20221212
FILED AS OF DATE:		20221212
DATE AS OF CHANGE:		20221212

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:		221456117

	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>zk2228875.htm
<DESCRIPTION>6-K
<TEXT>
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      <div style="text-align: center; line-height: 1.25;"><font style="font-size: 14pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">UNITED STATES</font><font style="font-size: 14pt; font-family: 'Times New Roman',Times,serif;"><br>
        </font><font style="font-size: 14pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font><br>
        Washington, D.C. 20549<br>
        <br>
        <font style="font-size: 14pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Form 6-K</font><br 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></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">For the month of <font style="font-weight: bold;"><u>December 2022</u></font>.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">Commission File Number: <font style="font-weight: bold;"><u>001-40065</u></font><br style="line-height: 1.25;">
        <br>
        <font style="font-size: 16pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>IM Cannabis Corp.</u></font><br>
        (Exact Name of Registrant as Specified in Charter)<br style="line-height: 1.25;">
        <br>
        <font style="font-weight: bold;"><u>Kibbutz Glil Yam, Central District, Israel 4690500</u></font><br>
        (Address of principal executive offices)</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25;">Form 20-F&#160; <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font>&#160; Form 40-F &#8864;</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;"><font style="font-weight: bold;">Note</font>: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security
        holders.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;"><font style="font-weight: bold;">Note</font>: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant
        foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on
        which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already
        been the subject of a Form 6-K submission or other Commission filing on EDGAR.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">INCORPORATION BY REFERENCE</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Exhibit 99.1 of this Form 6-K of IM Cannabis Corp. (the "Company") is hereby incorporated by reference into the Registration Statement on Form F-10 (File No. 333-254255) of the
        Company, as amended or supplemented.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">SIGNATURE</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
        authorized.</div>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zf55f83cbf5f14f7aa4b038049ee720f7" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 7.51%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 41.52%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 50.96%; vertical-align: middle;" colspan="2">
              <div style="line-height: 1.25; font-weight: bold;">IM CANNABIS CORP.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 7.51%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 41.52%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 50.96%; vertical-align: middle;" colspan="2">
              <div style="line-height: 1.25;">(Registrant)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 7.51%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 41.52%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 6.43%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 44.53%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 7.51%; vertical-align: middle;">
              <div style="line-height: 1.25;">Date:</div>
            </td>
            <td style="width: 41.52%; vertical-align: middle;">
              <div style="line-height: 1.25;">December 12, 2022</div>
            </td>
            <td style="width: 6.43%; vertical-align: middle;">
              <div style="line-height: 1.25;">By:</div>
            </td>
            <td style="width: 44.53%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-style: italic;">/s/ Oren Shuster</div>
            </td>
          </tr>
          <tr>
            <td style="width: 7.51%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 41.52%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 6.43%; vertical-align: middle;">
              <div style="line-height: 1.25;">Name:</div>
            </td>
            <td style="width: 44.53%; vertical-align: middle;">
              <div style="line-height: 1.25;">Oren Shuster</div>
            </td>
          </tr>
          <tr>
            <td style="width: 7.51%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 41.52%; vertical-align: middle;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 6.43%; vertical-align: middle;">
              <div style="line-height: 1.25;">Title:</div>
            </td>
            <td style="width: 44.53%; vertical-align: middle;">
              <div style="line-height: 1.25;">Chief Executive Officer and Director</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;"><u>EXHIBIT INDEX</u></div>
      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 10%; vertical-align: middle;">
              <div style="line-height: 1.25;"><a href="exhibit_99-1.htm">99.1</a></div>
            </td>
            <td style="width: 90%; vertical-align: middle;">
              <div style="line-height: 1.25;"><a href="exhibit_99-1.htm">FORM&#160;10 &#8209;Notice of Proposed Significant Transaction dated December 12, 2022</a></div>
            </td>
          </tr>

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      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit_99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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        <div style="line-height: 1.25; text-align: right;"><u><font style="font-weight: bold;">Exhibit 99.1</font></u><br style="line-height: 1.25;">
        </div>
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
      </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">FORM 10<br style="line-height: 1.25;">
        <br>
        NOTICE OF PROPOSED SIGNIFICANT TRANSACTION (not involving <u></u></div>
      <div style="text-align: center; line-height: 1.25; 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;"><u>1</u></sup></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Name of Listed Issuer: <font style="font-weight: bold;"><u>IM Cannabis Corp.</u></font> (the &#8220;Issuer&#8221;).</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Trading Symbol: IMCC.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Issued and Outstanding Securities of the Issuer Prior to Transaction: 75,695,325<u>.</u></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">Date of News Release Fully Disclosing the Transaction: N/A.</div>
      <div>
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              <td style="width: 54pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; line-height: 1.25; font-weight: bold;">1.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="line-height: 1.25; font-weight: bold;">Transaction</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zca58109270b042d28e1b6066f7f4c2e3">

            <tr>
              <td style="width: 54pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; line-height: 1.25;">1.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; line-height: 1.25;">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:</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; margin-left: 54pt; line-height: 1.25; font-weight: bold;">On October 11, 2022, the Issuer&#8217;s subsidiary, IMC Holdings Ltd. (&#8220;IMC Holdings&#8221;) entered into a loan agreement with A.D.I. CAR ALARMS &amp; STEREO SYSTEMS Ltd
        (the &#8220;Lender&#8221; and the &#8220;Loan Agreement&#8221;). Pursuant to the Loan Agreement, the Lender loaned NIS 10.5 million to IMC Holdings with an annual interest of 15% (the &#8220;Loan&#8221;). The Loan was paid to IMC Holdings in two instalments on October 14, 2022, and
        October 24, 2022. Pursuant to the Loan Agreement, the Loan is to be repaid within 12 months from the date of the Loan Agreement. Adjupharm GmbH, a subsidiary of IMC Holdings, has signed a Security Purpose Agreement with the Lender, providing
        registration of second rank land charge on its real property, in favour of the Lender (the &#8220;Adjupharm Asset Security&#8221;), as security for the Loan. Pursuant to the Loan Agreement, Mr. Oren Shuster, Chief Executive Officer and Director of the Issuer,
        provided a personal guarantee to the Lender should the Adjupharm Asset Security not be sufficient to cover the Loan.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25">&#160;<br>
        <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;">
        <div style="line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">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>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">
        <div style="text-align: center; line-height: 1.25; font-weight: bold;">
          <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;">FORM 10 - NOTICE OF PROPOSED</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold;">SIGNIFICANT TRANSACTION</div>
        <div style="text-align: center; line-height: 1.25;">January 2015</div>
        <div style="text-align: center; line-height: 1.25;">Page 1<br>
        </div>
      </div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 54pt; line-height: 1.25;">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>
      <div>
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              <td style="width: 108pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; margin-left: 54pt; line-height: 1.25;">&#160;(a)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="line-height: 1.25;">Total aggregate consideration in Canadian dollars:<font style="font-weight: bold;"> N/A</font>.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbfa86e143859467482255c6363a84b7d">

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              <td style="width: 108pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; margin-left: 54pt; line-height: 1.25;">&#160;(b)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="line-height: 1.25;">Cash:<font style="font-weight: bold;"> N/A</font>.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
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              <td style="width: 108pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; margin-left: 54pt; line-height: 1.25;">&#160;(c)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="line-height: 1.25;">Other:<font style="font-weight: bold;"> N/A</font>.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
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              <td style="width: 108pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; margin-left: 54pt; line-height: 1.25;">&#160;(d)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="line-height: 1.25;">Work commitments:<font style="font-weight: bold;"> N/A</font>.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze2e030531cc8403fa427b6a8e083b768">

            <tr>
              <td style="width: 54pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; line-height: 1.25;">2.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="line-height: 1.25;">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>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="margin-left: 54pt; line-height: 1.25; font-weight: bold;">N/A.</div>
      <div>
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              <td style="width: 54pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; line-height: 1.25;">3.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="line-height: 1.25;">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><u>.</u></div>
              </td>
            </tr>

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            <tr>
              <td style="width: 54pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; line-height: 1.25;">4.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; line-height: 1.25;">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>

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                <div style="text-align: left; line-height: 1.25;">5.</div>
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              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; line-height: 1.25;">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;">N/A.</font></div>
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      <div style="line-height: 1.25">&#160;</div>
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          <tr>
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            </td>
            <td style="width: 54pt; vertical-align: top;">(a)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <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>

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

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        </div>
        <div><br>
        </div>
        <div>
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              <tr>
                <td style="width: 54pt;"><br>
                </td>
                <td style="width: 54pt; vertical-align: top;">(C)</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Other&#160;&#160;&#160; __________________________________________________________________________. &#160;&#160; </div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="line-height: 1.25;">
        <div> </div>
      </div>
      <div style="line-height: 1.25;">
        <div> </div>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zeebf7cf586464ca9bcfdb8e662b2091c">

            <tr>
              <td style="width: 54pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; line-height: 1.25;">6.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="line-height: 1.25;">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; text-align: right;">
                <div style="text-align: left; line-height: 1.25;">7.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; line-height: 1.25;">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; text-align: right;">
                <div style="text-align: left; line-height: 1.25; font-weight: bold;">2.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="line-height: 1.25; 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;">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>
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      </div>
      <div style="text-align: justify; 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;">
          <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;">FORM 10 - NOTICE OF PROPOSED</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold;">SIGNIFICANT TRANSACTION</div>
        <div style="text-align: center; line-height: 1.25;">January 2015</div>
        <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: normal;">Page 2</div>
        <br>
      </div>
    </div>
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    <div><br>
      <div style="line-height: 1.25;"><font style="font-weight: bold;">3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Certificate Of Compliance</font></div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">The undersigned hereby certifies that:</div>
      <div>
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            <tr>
              <td style="width: 54pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; line-height: 1.25;">1.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; line-height: 1.25;">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: 54pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; line-height: 1.25;">2.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="line-height: 1.25">&#160;</div>
                <div style="text-align: justify; line-height: 1.25;">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>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc91d17ea0a9a493c8b26f9b013bc4d41">

            <tr>
              <td style="width: 54pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; line-height: 1.25;">3.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; line-height: 1.25;">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>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5a0d2b8438594830bec517fa006fa10f">

            <tr>
              <td style="width: 54pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; line-height: 1.25;">4.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; line-height: 1.25;">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>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0c597afb401e4c2297c8a54343d01e80">

            <tr>
              <td style="width: 54pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; line-height: 1.25;">5.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; line-height: 1.25;">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;">Dated <u>December 7, 2022</u><u>.</u></div>
      <div style="text-align: justify; line-height: 1.25;"><u> <br>
        </u></div>
    </div>
    <div><u> </u>
      <table cellspacing="0" cellpadding="0" border="0" id="z5a64506e30604da9a80521b10ac7fa82" 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: 50.00%;">
              <div style="text-align: justify; line-height: 1.25;"><u>Oren Shuster</u>
                <div>Name of Director or Senior Officer</div>
                <div> <br>
                </div>
                <div>
                  <div><u>&#8220;Oren Shuster&#8221;</u></div>
                  <div>Signature</div>
                  <div> <br>
                  </div>
                  <div>
                    <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>
              </div>
            </td>
          </tr>

      </table>
      <br>
      <div class="BRPFPageFooter"><br>
        <div style="text-align: center; line-height: 1.25;">
          <div style="line-height: 1.25; font-weight: bold;">
            <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;">FORM 10 - NOTICE OF PROPOSED</div>
          <div style="line-height: 1.25; font-weight: bold;">SIGNIFICANT TRANSACTION</div>
          <div style="line-height: 1.25;">January 2015</div>
          <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: normal;">Page 3
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