HERZLIYA, Israel, and CALGARY, AB — Innocan Pharma Corporation closed a non-brokered private placement offering of 1,193,551 Units at a price of $0.18 per Unit for aggregate gross proceeds of $214,839.
Each Unit is comprised of one common share of the Company and one common share purchase warrant of the Company. Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.25 for a period of four years from the date of issuance.
Iris Bincovich Innocan Pharma’s CEO stated: “It is an honour to receive the continued support of our investors, who have placed their trust in Innocan’s proprietary technology”.
The Company intends to use the proceeds from the Offering for working capital and general corporate purposes. The Common Shares and Warrants issued on closing of the Offering are subject to a four-month hold period.
About Innocan
Innocan is a pharmaceutical tech company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies comprises with cannabinoids science, to treat various conditions to improve patients’ quality of life. This segment involves a LPT CBD-loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: Epilepsy and Pain Management. In the Consumer Wellness segment, Innocan develops and markets a wide portfolio of innovative and high-performance self-care products to promote a healthier lifestyle. Under this segment Innocan has established a Joint Venture by the name of BI Sky Global Ltd. that focuses developing on advanced targeted online sales.
