Noveris Announces Closing of Life Offering

Executive Summary

• Noveris Health Sciences Inc. completed its previously announced non‑brokered private placement, issuing 9,625,049 units at $0.24 per unit for gross proceeds of approximately $2.31 million.
• Each unit consists of one common share and one warrant to purchase an additional common share at $0.30 exercise price, exercisable for 24 months from issuance.
• Proceeds are earmarked for general working capital, administrative expenses, and research & development activities.

Key Details

• Units Issued: 9,625,049 units
• Unit Price: $0.24 per unit
• Gross Proceeds: $2,310,011.76 (≈ $2.31 M)
• Composition of Each Unit:
• 1 common share of Noveris Health Sciences Inc.
• 1 common share purchase warrant (exercise price $0.30, term 24 months)
• Financing Exemption: Issued under the listed issuer financing exemption (NI 45‑106 Part 5A); no statutory hold periods apply.
• Finder’s Fees Paid: $28,050.60 in aggregate to arm’s‑length finders.
• Use of Proceeds: General working capital, general and administrative expenses, and research & development.

Notable Quotes

• “The successful completion of this financing provides us with the necessary capital to advance our drug discovery programs and support ongoing R&D initiatives,” – Jason Birmingham, Chief Executive Officer.