InnoCan Pharma Corporation announced a non-brokered private placement of 8,409,735 units at a price of CAD 0.23 per unit for a gross proceeds of CAD 1,934,239.05 on August 4, 2023. Each unit comprises of one common share, one and half of one class A common share purchase warrant and one half of one class B common share purchase warrant. Each class A warrant will entitle the holder thereof to purchase one common share at a price of CAD 0.29 for a period of three years from the date of issuance.
Each class B warrant will entitle the holder thereof to purchase one common share at a price of CAD 0.40 for a period of five years from the date of issuance. The security issued in the transaction are subject to hold period of four month.