Algernon Closes Second Tranche of Private Placement Financing

Executive Summary

• Algernon Health Inc. closed the second tranche of its non‑brokered private placement, raising CAD $210,000 from the sale of 3 million units at CAD $0.07 per unit.
• Proceeds will be used to advance the company’s Alzheimer’s Disease program, open its first U.S. AD clinic, cover general and administrative expenses, and provide working capital.
• No cash finder’s fees were paid on this tranche; securities remain subject to a four‑month statutory hold period and are not registered for sale in the United States.

Key Details

• Offering Size: 3,000,000 units sold at CAD $0.07 per unit.
• Gross Proceeds: CAD $210,000 from the second tranche.
• Use of Proceeds: Advancement of Alzheimer’s Disease program, opening of first U.S. AD clinic, general & administrative expenses, and working capital.
• Finder’s Fees: None paid for this tranche.
• Hold Period: Securities subject to a statutory hold period of four months plus one day from issuance date under Canadian securities legislation.
• U.S. Offering Restrictions: Units not registered under the U.S. Securities Act; cannot be offered or sold in the United States or to “U.S. persons” without registration or an applicable exemption.

Notable Quotes

• “The closing of this second tranche provides essential capital to accelerate our Alzheimer’s Disease program and bring our first U.S. clinic online,” – Christopher J. Moreau, CEO, Algernon Health Inc.