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Financings

Innocan Pharma Announces Closing of a Debenture to its Largest Shareholder, Tamar Innovest

By The Northwire Desk — AI Analysis Mar 16, 2026 · 17:03 INNO · 6.33 InnoCan Pharma Corporation
INNO · Price

Executive Summary

  • Innocan Pharma closed a $450,000 unsecured debenture issuance to its largest shareholder, Tamar Innovest Ltd.
  • The debenture bears 10% annual interest and matures either 12 months after issuance or upon completion of the company’s planned U.S. public offering.
  • Proceeds will be used for working capital, NYSE‑listing costs, and general corporate purposes.

Key Details

  • Offering Size: Gross proceeds of US $450,000.
  • Investor: Tamar Innovet Ltd., holder of 17% of Innocan’s common shares and an insider/director‑related party.
  • Interest Rate: 10% per annum.
  • Maturity: The earlier of (i) 12 months from issuance or (ii) completion of the company’s proposed U.S. public offering under its Form F‑1 registration statement.
  • Security: Secured by a general security agreement filed in Alberta on March 7, 2025.
  • Use of Proceeds: Working capital, costs associated with NYSE listing, and other general corporate purposes.
  • Related Party Transaction: Company relied on MI 61‑101 exemptions; fair market value of the debenture is less than 25% of market capitalization; transaction approved by independent directors.
  • CEO Comment: “We are delighted to receive an additional investment from our largest shareholder, Tamar Innovest.” – Iris Bincovich, CEO.

Notable Quotes

“We are delighted to receive an additional investment from our largest shareholder, Tamar Innovest.” – Iris Bincovich, CEO, Innocan Pharma Corporation

Read the original news release →

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