Financings
Rakovina Announces Closing of $1 Million Debenture Unit Private Placement and Debt Settlement Agreements
RKV · Price
Executive Summary
- Rakovina Therapeutics closed a non‑brokered private placement of convertible debenture units, raising $1,000,000 in gross proceeds.
- The company settled its existing 12 % unsecured convertible debentures (total outstanding $1,587,130.59) by issuing approximately 3,265,585 settlement shares and new replacement debentures plus warrants valued at $1,195,259.99.
- Closing of the debt‑settlement transactions is expected around March 9, 2026, subject to TSX Venture Exchange approval.
Key Details
- Private Placement Terms
- Price: $50,000 per Debenture Unit.
- Each unit comprised of one $50,000 unsecured convertible debenture and 100,000 warrants.
- Warrants exercisable at $0.20 per share until Jan 28 2029 (subject to adjustments).
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New debentures bear 12 % interest, payable semi‑annually in cash or common shares, maturing Jan 28 2029 with conversion option at $0.20 per share.
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Use of Proceeds
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Near‑term working capital for ongoing corporate activities and strategic initiatives; longer‑term financing options remain under evaluation.
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Debt Settlement Structure
- Total settled amount: $1,587,130.59 (principal $1,454,000 + accrued interest $133,130.59).
- Settlement option A: Holders receive 3,265,585 settlement shares at a deemed price of $0.12 per share for $391,870.60 of debt.
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Settlement option B: Remaining holders receive Replacement Debentures (principal $1,095,000) plus 2,390,519 warrants, covering the balance of $1,195,259.99.
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Replacement Debenture & Warrant Terms
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Identical to the new debentures and warrants issued in the private placement (12 % interest, $0.20 exercise price, same maturity).
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Regulatory Conditions
- All issuances subject to final approval by the TSX Venture Exchange (TSXV).
- Securities will be under a statutory hold period of four months and one day from issuance per Canadian securities law.
Notable Quotes
(No executive quotes were included in the release.)
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