Innocan Pharma Completes First Tranche of Private Placement

HERZLIYA, Israel and CALGARY, Alberta, Sept. 23, 2026 /CourierPR/ -- Innocan Pharma Corporation has completed a private placement of 247,314 units, raising gross proceeds of C$462,477. Each unit consists of one common share and one common share purchase warrant. The warrants allow the holder to purchase one common share at C$2.50 for a period of three years from the date of issuance. The company plans to use the funds for working capital and general corporate purposes.

The private placement was announced on September 9, 2026, and the company has now closed the first tranche. The terms of the offering include a 10% finder's fee in cash and the issuance of 8% finder's warrants to arm's length finders. The securities issued in connection with the offering are subject to a hold period of four months and one day, in accordance with applicable Canadian securities laws.

Innocan Pharma Corporation, an innovator in the pharmaceuticals and wellness sectors, has diversified its business through its 60% owned subsidiary, BI Sky Global Ltd. BI Sky focuses on advanced, targeted online sales of high-performance self-care and beauty products. The company aims to promote a healthier lifestyle through its wellness products.

The offering includes a mechanism that could accelerate the expiry date of the warrants if certain conditions are met. Specifically, if the daily volume-weighted average trading price of the common shares on the Canadian Securities Exchange equals or exceeds C$4.80 for 30 consecutive trading days, the company can issue an acceleration notice, which would bring the warrants' expiry date forward by 30 days.

Innocan Pharma Corporation intends to use the proceeds from the private placement for general corporate purposes and working capital. The company has not disclosed the exact allocation of the funds, but it is clear that the capital raised will support its ongoing operations and potential expansion plans.

The private placement is subject to the usual risks and uncertainties, including the ability to satisfy the conditions of closing future tranches and the potential for the company's use of proceeds to differ from the stated intentions. The company has also warned that global and local economic, political, and market conditions, as well as regulatory requirements, could impact its operations.

In summary, Innocan Pharma Corporation has successfully completed the first tranche of its private placement, raising significant capital for its operations. The terms of the offering include a mechanism for accelerating the expiry of the warrants, which could provide additional flexibility for the company in managing its capital structure.