Algernon Announces Additional Increase to Private Placement Financing to $858,000 and Final Closing of the Financing

Executive Summary

• Algernon Health Inc. closed the fourth and final tranche of its non‑brokered private placement, raising CAD $117,501 for a total financing of CAD $857,001.
• The offering consisted of 1,678,586 units sold at CAD $0.07 per unit; insiders purchased $32,501 worth of units.
• Proceeds will be used to advance the company’s Alzheimer’s Disease program (including opening its first U.S. AD clinic), cover G&A expenses and provide working capital.

Key Details

• Total Financing Amount: CAD $858,000 (total of all tranches).
• Fourth Tranche Gross Proceeds: CAD $117,501.
• Units Sold in Fourth Tranche: 1,678,586 units at CAD $0.07 per unit.
• Cumulative Units Sold Across All Tranches: 12,242,872 units.
• Insider Participation: $32,501 of the fourth tranche purchased by insiders; treated as a related‑party transaction under MI 61‑101 but exempt from valuation and minority‑shareholder approval requirements.
• Finder’s Fees: No cash finder’s fees were paid for this tranche.
• Use of Proceeds:
• Advancement of Alzheimer’s Disease (AD) program, including opening the first U.S. AD clinic.
• General and administrative expenses.
• Working capital.
• Regulatory Notes:
• Securities subject to a statutory hold period of four months plus one day.
• Units are not registered under the U.S. Securities Act and may not be offered or sold in the United States or to U.S. persons without an exemption.

Notable Quotes

“The proceeds from this financing will accelerate our mission to bring cutting‑edge PET imaging for Alzheimer’s Disease to patients in North America, beginning with our first U.S. clinic.” – Christopher J. Moreau, CEO, Algernon Health Inc.