Innocan to roll back shares one for 65

Executive Summary

• Innocan Pharma Corp. announced the specific details of a proposed share consolidation, fixing the ratio at one post-consolidation share for every 65 pre-consolidation shares.
• This consolidation is a prerequisite step toward completing a proposed public offering of units in the United States and listing the common shares on the Nasdaq Capital Market.
• The share consolidation is expected to commence trading on the Canadian Securities Exchange (CSE) on or about September 5, 2025, subject to CSE approval.

Key Details

• Consolidation Ratio: 1 post-consolidation common share for every 65 pre-consolidation common shares.
• Share Count Impact: Existing 292,420,157 common shares will be reduced to approximately 4,498,772 common shares (subject to rounding adjustments).
• Rounding Policy: Fractional interests less than 0.5 are rounded down; fractional interests of 0.5 or greater are rounded up. No fractional shares will be issued.
• Trading Date: Expected to commence trading on a post-consolidation basis on the CSE on or about September 5, 2025.
• Listing Application: The company has applied to list its common shares and warrants on Nasdaq Capital Market under symbols INNP and INNPW, respectively.
• Offering Structure: Units will consist of one common share and one common share purchase warrant. Warrants entitle holders to purchase one common share at an exercise price and term in the context of the market.
• Underwriter: ThinkEquity LLC is acting as the representative underwriter.
• Regulatory Status: A registration statement (Form F-1) has been filed with the SEC but has not yet become effective. Securities may not be sold prior to effectiveness.
• Shareholder Approval: The consolidation ratio was authorized by shareholders at the annual and special meeting on June 26, 2025, which allowed the board to select a ratio of up to 1-for-100.

Notable Quotes

• "We are pleased to take this step as part of our plan to complete a U.S. public offering and Nasdaq listing." — Iris Bincovich, Chief Executive Officer