#Canada #Calgary #pharmaceuticals #Innocan Pharma #CBD Technology

Innocan Pharma Successfully Closes Private Placement

Innocan Pharma Corporation, a leader in pharmaceutical technology, recently reported the successful completion of its non-brokered private placement offering, raising a significant amount for future developments. The Calgary-based company issued 1,193,551 units at a price of $0.18 each, generating $214,839 in gross proceeds. Each unit contains one common share and a warrant, allowing investors to purchase additional shares at a set price of $0.25 over the next four years.

CEO Iris Bincovich expressed gratitude for the unwavering support from investors, emphasizing that this funding will facilitate the company's ongoing innovation in delivering therapeutic solutions through cannabinoid technologies. The proceeds from the offering will be allocated toward working capital, enhancing Innocan's capacity to pursue groundbreaking developments in both pharmaceuticals and consumer wellness sectors.

Overview of Innocan Pharma

Innocan Pharma operates primarily under two sectors: Pharmaceuticals and Consumer Wellness. Within the pharmaceutical domain, the company specializes in developing advanced drug delivery platforms utilizing cannabinoids to treat various ailments, thereby striving to enhance patients' quality of life. Notably, Innocan is advancing its LPT CBD-loaded liposome technology, which aims to provide precise dosing and regulated release of CBD into the bloodstream. Currently, this innovative platform is in the preclinical trial stage for treating epilepsy and pain management.

In the consumer wellness segment, Innocan has established a robust portfolio of self-care products designed to foster healthier lifestyles. Partnering with BI Sky Global Ltd., Innocan focuses on enhancing targeted online sales to optimize the reach of its innovative offerings.

Future Aspirations and Regulatory Challenges

Although Innocan is focused on expanding its market presence and launching innovative products, it remains cognizant of the various regulatory landscapes governing pharmaceuticals, especially concerning cannabinoid research and development. The securities linked to this offering are subject to a four-month hold period, and the company has made it clear that this initiative is not intended for distribution within the United States.

In line with this, Innocan reiterates its commitment to comply with all applicable securities regulations while also addressing forward-looking assumptions that encompass potential growth opportunities and business operations. Market observers will be keenly watching how Innocan navigates the complexities associated with regulatory approvals, particularly from governing bodies such as the FDA, as they pursue advancements in cannabinoid treatments.

In conclusion, Innocan Pharma's successful closing of its private placement positions the company well for the future, granting them the resources necessary to advance their research and development initiatives in the promising field of cannabinoid-based therapeutics. For more details on their innovative approaches and the latest updates, stakeholders can access additional information on their official website.

For further inquiries, please connect with:

• - Iris Bincovich, CEO
• - Phone: +1 516-210-4025
• - Email: iris@innocanpharma.com

• ---

Note: This article contains forward-looking statements and is intended for informational purposes only. Specific predictions or statements regarding the company’s plans and potential outcomes are subject to inherent risks. Investors are encouraged to conduct their thorough due diligence before making any financial commitments.