Awakn Life Sciences Corp. announced a non-brokered private placement to issue up to 6,521,739 units at an issue price of CAD 0.46 per unit for gross proceeds of up to CAD 3,000,000 in funding on April 26, 2023. Each unit is comprised of one common share and three quarters of one common share purchase warrant. Each warrant entitles the holder to acquire one common share at a price of CAD 0.63 per common share for a period of 5 years following the closing date. Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of NEO Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

On the same date, the company received its first tranche. The company issued 2,392,858 units for gross proceeds of CAD 1,100,715 in the tranche.