Rakovina Therapeutics Announces Upsized Financing Up to $2.0 Million

Executive Summary

• Rakovina Therapeutics announced an upsized financing of up to $2 million, comprising a $1 million unsecured convertible debenture with warrants and a concurrent $1 million common‑share private placement.
• The convertible debenture carries a 12% annual interest rate (semi‑annual cash payments), matures on 28 Jan 2029, and is convertible at $0.20 per share; associated warrants are exercisable at the same price through the maturity date.
• Proceeds will be used for near‑term working capital to support ongoing corporate activities and strategic initiatives while the company evaluates longer‑term financing options.

Key Details

• Financing Structure
• Convertible Debenture Private Placement: $1 million unsecured convertible debenture + 2 million common‑share purchase warrants.
  • Maturity: 28 Jan 2029
  • Conversion price: $0.20 per common share
  • Interest: 12% per annum, payable semi‑annually in cash
  • Warrants exercisable at $0.20 per share until maturity, subject to customary adjustments.
• Common Share Private Placement: Up to 8,333,334 common shares at $0.12 per share, targeting gross proceeds of up to $1 million.
• Use of Proceeds
• Provide near‑term working capital for ongoing corporate activities and strategic initiatives.
• Support evaluation of longer‑term financing alternatives.
• Regulatory & Closing Conditions
• Subject to TSX Venture Exchange approval, corporate approvals, and definitive subscription agreements.
• Securities will be subject to a statutory hold period of four months plus one day from issuance under Canadian securities law.
• Finder’s Fee: Company may pay eligible finders for introducing subscribers to the common‑share private placement.
• Future Disclosure: A subsequent news release will detail finalized terms of the convertible debenture once definitive agreements are executed.

Notable Quotes

(No direct quotes were provided in the release.)