Onco-Innovations Settles Debt with Shares to Creditors
News related to:Onco-Innovations Limited · 1 min read
Onco-Innovations Limited, a Canadian company specializing in cancer research and treatment, announced on September 8, 2026, that it has entered into debt settlement agreements with certain insiders and consultants to resolve an aggregate of $481,694 in outstanding debts. The company will issue an aggregate of 860,168 common shares to these Creditors, each share valued at $0.56, in full settlement of the debt.
According to the press release, RHM Management Inc., controlled by David Antony, the Chief Financial Officer and Corporate Secretary of Onco-Innovations, and Carnarvon Strategies-Health Industry Solutions Inc., managed by Thomas O’Shaughnessy, the Chief Executive Officer of Onco-Innovations, are among the Creditors involved in the related party transaction. The issuance of these shares constitutes a related party transaction as defined by Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Onco-Innovations relies on the exemptions from formal valuation and minority approval requirements set out in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the shares nor the consideration paid exceeded 25% of the company’s market capitalization.
The terms of the debt settlement were finalized shortly before closing to expedite the transaction for business reasons. As of the release date, the issuance and listing of the shares remain subject to final approval from CBOE Canada.
Onco-Innovations, headquartered in Calgary, Canada, is dedicated to pursuing the prevention and treatment of cancer through pioneering research and innovative solutions. The company has secured an exclusive worldwide license to patented technology that targets solid tumors. This strategic move aims to solidify the company’s position as a leader in the oncology field.
In the ongoing business, Onco-Innovations continues to focus on advancing its research and development efforts to contribute to the global fight against cancer. The debt settlement is part of the company’s broader strategy to ensure financial stability and support ongoing operations and research initiatives.