Mr. Stephen Van Deventer reports
PREVECEUTICAL CLOSES INITIAL TRANCHE OF UP-SIZED NON-BROKERED PRIVATE PLACEMENT
Preveceutical Medical Inc., further to its news releases dated April 2, 2025, and April 14, 2025, has closed an initial tranche of its previously announced $700,000 non-brokered private placement, which initial trance consisted of 19,666,700 units of the company at a price of three cents per unit for gross aggregate proceeds of $590,001.
Each unit comprises one common share in the capital of the company and one-half of one share purchase warrant. Each warrant entitles the holder thereof to purchase an additional share at an exercise price of five cents per warrant share for a period of 24 months from the closing of the initial tranche, subject to an acceleration right, whereby the expiry date of the warrants may be accelerated if the daily closing price of the shares equals or exceeds eight cents or greater on the Canadian Securities Exchange (or such other recognized securities exchange on which the shares may then trade) for a minimum of 10 consecutive trading days, in which event the company may accelerate the expiry of the warrants by giving notice via news release and, in such case, all of the then unexercised warrants will expire on the 30th day after the date on which the news release is disseminated.
In connection with the initial tranche closing, the company paid a finder's fee to an eligible finder, comprising $47,200.08 in cash and 1,573,336 finder's warrants. Each finder's warrant is exercisable into one additional share at an exercise price of five cents per share for 24 months from the initial tranche closing, subject to the acceleration right.
The company intends to use the aggregate gross proceeds of the initial tranche to pay outstanding payables, for operating expenses and for general working capital purposes.
Preveceutical intends to close a second tranche for the remainder of the offering in the coming weeks.
All securities issued in relation to the initial tranche are subject to a hold period expiring four months and one day after the initial tranche closing, in accordance with applicable securities laws.
About Preveceutical Medical Inc.
Preveceutical is a health sciences company that develops innovative options for preventive and curative therapies utilizing organic and nature identical products. Preveceutical aims to be a leader in preventive health sciences, and currently has five research and development programs, including: dual gene therapy for curative and prevention therapies for diabetes and obesity; the Sol-gel program; Nature Identical peptides for treatment of various ailments; non-addictive analgesic peptides as a replacement to the highly addictive analgesics, such as morphine, fentanyl and oxycodone; and a therapeutic product for treating athletes who suffer from concussions (mild traumatic brain injury).
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