Under the proposed agreement, IM Cannabis will secure a majority interest in Space Defense Innovations, which operates through its subsidiary BlueAero Group. The Polish firm currently distributes tactical drones and hybrid vertical take-off and landing platforms developed by Israel-based BlueBird Aero Systems. Pending regulatory approval, the company intends to transition from a reseller to a regional manufacturer, holding exclusive rights for BlueBird products within Poland.
IM Cannabis to Acquire Stake in Polish Defense Firm Space Defense Innovations
IM Cannabis Corp. has signed a non-binding letter of intent to acquire a 51% stake in the Polish company Space Defense Innovations. The deal marks a strategic pivot for the Toronto-based firm, moving beyond its traditional medical cannabis operations into the European tactical unmanned aerial systems market.
Financial terms involve a mix of common shares, pre-funded warrants, and a seller loan carrying a 9% interest rate. Additionally, IM Cannabis will provide a credit line of up to EUR 2.3 million to support operations and has secured a five-year call option to acquire the remaining equity. The company plans to finalize definitive agreements within 60 days, subject to due diligence and the satisfaction of customary closing conditions. This expansion aligns with the firm's broader objective to diversify its portfolio into technology-driven industries, even as it continues to manage its core medical cannabis platforms in Israel.
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