Algernon increases placement, closes third tranche

Executive Summary

• Algernon Health Inc. has closed the third tranche of its non-brokered private placement, increasing the total financing raised to $739,500.
• The third tranche consisted of 5,035,714 units sold at $0.07 per unit, generating gross proceeds of $352,500.
• Proceeds will be used to advance the company's Alzheimer's disease program, including opening its first U.S. clinic, covering general and administrative expenses, and working capital.

Key Details

• Total Financing: The total gross proceeds from the private placement are now $739,500.
• Third Tranche Details:
  • Gross Proceeds: $352,500
  • Units Sold: 5,035,714 units
  • Price Per Unit: $0.07
• Previous Tranches:
  • First Tranche Closed: November 14, 2025
  • Second Tranche Closed: November 28, 2025
• Total Units Issued: 10,564,286 units (cumulative across all three tranches).
• Use of Proceeds: Advancing the Alzheimer's disease program, opening the first U.S. AD clinic, general and administrative expenses, and working capital.
• Fees: No cash finders' fees were paid for the third tranche.
• Restrictions: Securities are subject to a statutory hold period of four months plus one day from the date of issuance under Canadian securities legislation.

Notable Quotes

• None provided in the text.