MYM is a Canadian cultivator, processor and distributor of cannabis through its two wholly-owned subsidiaries - SublimeCulture Inc. and Highland Grow Inc.

The transaction was finalized under the terms and conditions of an agreement between IMC, MYM and Trichome Financial Corp that resulted in the acquisition by IMC of all the issued and outstanding shares of MYM. Following the finalization of the acquisition, IMC indirectly (via its wholly-owned subsidiary Trichome Financial Corp.) has ownership and control over 100% of the issued and outstanding MYM shares.

Under the deal, ex MYM shareholders obtained a total of 10.07 million IMC shares or around 15% of the total number of the issued and outstanding IMC shares. The MYM shares will be delisted from the Canadian Securities Exchange around July 9.

In connection to the transaction, Desjardins Capital Markets and Torys LLP acted as financial advisor and legal counsel, respectively, to IMC. Hyperion Capital Inc. and Borden Ladner Gervais LLP acted as financial advisor and legal counsel, respectively, to MYM.

Price Action 

IMC shares were trading 2.38% lower at $4.92 per share at the time of writing Friday morning.

Photo: Courtesy of IM Cannabis