Innocan Pharma Announces $1 Million Debenture Offering to Tamar Innovest

InnoCan Pharma ( (TSE:INNO) ) has shared an announcement.

Innocan Pharma has announced a private placement offering of a debenture unit to its largest shareholder, Tamar Innovest, for gross proceeds of $1,000,000. This offering includes a secured convertible debenture and common share purchase warrants, with the proceeds intended for working capital and general corporate purposes. The transaction, classified as a ‘related party transaction,’ highlights Tamar Innovest’s continued support and confidence in Innocan’s vision and strategy, potentially strengthening Innocan’s financial position and market presence.

More about InnoCan Pharma

Innocan Pharma is a pharmaceutical tech company operating in two main segments: Pharmaceuticals and Consumer Wellness. The Pharmaceuticals segment focuses on developing innovative drug delivery platform technologies using cannabinoid science to treat various conditions, including epilepsy and pain management. The Consumer Wellness segment develops and markets a wide range of self-care products and has established a joint venture, BI Sky Global Ltd., for advanced targeted online sales.

YTD Price Performance: -18.57%

Average Trading Volume: 11,320

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $39.99M

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