Pharmadrug Inc. announced a non-brokered private placement of up to 6,520,000 units at a purchase price of CAD 0.05 per unit for aggregate gross proceeds of up to CAD 326,000 on February 1, 2024. Each unit will be comprised of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at an exercise price of CAD 0.10 at any time up to 24 months following issuance of the warrant.

Certain insiders of the company may participate in the proposed offering.