Burcon Increases Non-Brokered Private Placement of Convertible Debentures to $6.9 Million

Executive Summary

• Burcon NutraScience Corp. increased its previously announced non‑brokered private placement to a total principal amount of up to $6.9 million in convertible debentures.
• Insiders and manufacturing partner owners have committed to purchase at least $5.0 million of the debentures, demonstrating strong investor interest.
• The company reaffirmed its 2026 revenue target of > $10 million, citing accelerated production and sales timelines.

Key Details

• Private Placement Size: Increased from prior announcement to a maximum aggregate principal amount of $6.9 million.
• Investor Commitment: Insiders and partner owners pledged a minimum purchase of $5.0 million in principal.
• Security Type: Convertible debentures (non‑brokered).
• Conditional TSX Approval: Placement conditionally approved by the Toronto Stock Exchange, pending compliance with approval terms and shareholder consent.
• Use of Proceeds (implied): Accelerate production and sales activities to meet the company’s revenue target for 2026.
• CEO Quote: “We are encouraged by the strong investor interest in a challenging market… we are accelerating our production and sales timeline and reaffirm our revenue target of more than $10 million for calendar 2026.” – Kip Underwood, CEO.

Notable Quotes

“We are encouraged by the strong investor interest in a challenging market,” said Kip Underwood, Burcon’s chief executive officer. “With continued support from insiders and major shareholders, we are accelerating our production and sales timeline and reaffirm our revenue target of more than $10 million for calendar 2026.”