Innocan Pharma Corporation announced a non brokered private placement of up to 3,500,000 units at an issue price of CAD 0.20 per unit for the gross proceeds of CAD 700,000 on December 19, 2024. Each Unit will be comprised of one common share and one common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one Common Share at a price of CAD 0.28 for a period of four years from the date of issuance.
The securities issued to Canadian subscribers in connection with the Offering will be subject to a hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws. The Offering is expected to close on or around December 31, 2024.