Innocan Pharma Announces Offering of an Additional Debenture to Tamar Innovest

• On March 31, 2026, Innocan Pharma announced an additional $200,000 USD secured debenture offering to its largest shareholder, Tamar Innovest Ltd., which holds approximately 17% of the company's common shares.
• The debenture carries a 10% annual interest rate and matures at the earlier of 12 months from issuance or the completion of the company's proposed U.S. public offering under its Form F-1 registration statement.
• Proceeds are designated for working capital and general corporate purposes, specifically to support operations while preparing for the anticipated NYSE American listing.
• The transaction is a related-party financing approved under MI 61-101 exemptions and secured by an existing general security agreement filed in Alberta.
• This announcement directly follows a $450,000 debenture issued to the same insider on March 11, 2026, under identical terms, bringing total recent insider debt to $650,000.

• The $200,000 financing is immaterial relative to the company's estimated $30M market capitalization and annual revenue run rate. It functions strictly as a short-term liquidity bridge.
• The reliance on a single insider for consecutive debt issuances signals constrained access to broader institutional or retail capital markets at current valuation levels.
• While the 10% interest rate is manageable, it adds to the company's fixed financial obligations without addressing the underlying revenue decline (-9.6% YoY in FY2025).
• The news is fully expected and incremental, serving as a procedural step toward the NYSE American uplisting rather than a standalone catalyst. Market reaction is anticipated to be muted.

• Innocan Pharma is a biopharmaceutical company focused on developing liposomal drug delivery technologies, with its flagship asset being LPT-CBD (Liposome Platform Technology-Cannabidiol).
• The company operates a consumer wellness segment through a 60% stake in joint venture B.I. Sky Global Ltd., which generated the majority of FY2025 revenue ($26.6M, down 9.6% YoY) with a high gross margin of 89.9%.
• LPT-CBD is a subcutaneous, sustained-release synthetic CBD formulation targeting chronic pain. The development pathway prioritizes veterinary applications first, followed by human therapeutics.
• Preclinical studies in dogs and goats have demonstrated sustained plasma levels, favorable safety profiles (no liver enzyme elevation), and statistically significant pain reduction over extended periods.