Innocan Pharma Announces Closing of Additional Debenture

Innocan Pharma announced on April 6 2026 the closing of an additional debenture to its largest shareholder, Tamar Innovest Ltd., for gross proceeds of US$200,000. The debenture carries a 10% annual interest rate and matures at the earlier of 12 months from issuance or completion of the company’s previously announced U.S. public offering (Form F‑1 registration). Proceeds are earmarked for working capital and general corporate purposes. The transaction is a related‑party financing approved under MI 61‑101 exemptions, with independent director approval and security provided by an existing general security agreement dated March 7 2025 filed in Alberta.

This closing follows two earlier financings to Tamar Innovest: - A $450,000 debenture closed on March 16 2026 (same 10% rate, same maturity conditions). - An announced $200,000 additional debenture offering disclosed on March 31 2026, with an expected closing on or about April 1 2026.

Thus, over March‑April 2026 Innocan has secured roughly US$850,000 of new debt from its insider shareholder, all on identical 10% terms and tied to the anticipated U.S. listing.

The $200,000 incremental financing represents less than 1 % of the company’s estimated market capitalization (~$30 million). The terms (interest rate, maturity, security) are identical to the prior debentures already disclosed, and the offering was pre‑announced on March 31. Consequently, the news does not contain genuinely new, unexpected information that would materially alter the company’s valuation or outlook. It provides modest, expected liquidity for working capital and listing‑related costs, which is a positive but routine development. Hence, the assessment aligns with a Routine - Positive rating.

Innocan Pharma Corporation is a pharmaceutical/biotechnology firm focused on developing liposomal drug‑delivery technologies. Its lead platform, LPT‑CBD (Liposome Platform Technology‑Cannabidiol), utilizes a sustained‑release liposomal encapsulation of synthetic cannabidiol for subcutaneous administration. The company’s primary veterinary indication targets chronic osteoarthritic pain in dogs, with the goal of progressing to human trials for chronic pain management. Innocan also operates a Consumer Wellness segment and holds a 60 % stake in joint venture B.I. Sky Global Ltd.