#Canada #Calgary #Innocan Pharma #Tamar Innovest #Debenture Offering

Recent Developments at Innocan Pharma

Innocan Pharma Corporation, a prominent player in the pharmaceutical tech industry, has recently revealed its plan to conduct a private placement of a debenture unit specifically for its largest shareholder, Tamar Innovest Ltd. This move will enable the company to raise a total of $1,000,000. The announcement reflects the ongoing confidence and support provided by Tamar Innovest, which has been a key partner since Innocan's inception.

Overview of the Offering

The debenture unit consists of two components: a secured convertible debenture amounting to $1,000,000 and 5,555,555 common share purchase warrants. The debenture carries a significant interest rate of 10% per annum, maturing two years from issuance. Importantly, it can be converted into common shares by the holder at a predetermined price based on the foreign exchange rates, ensuring predictability in the conversion process.

Terms of the Debenture

• - Maturity: 2 years from the date of issuance.
• - Interest Rate: 10% per annum.
• - Conversion Price: $0.21 per share.
• - Warrants: Each warrant can be exercised into a common share at CAD$0.26 for four years from the issuance date.

This investment will be secured under the laws of Alberta, with a security agreement encompassing a pledge of Innocan's shares in its Israeli subsidiary.

Intended Use of Proceeds

The funds generated from this offering are earmarked for working capital needs and other general corporate functions. It highlights Innocan's strategic approach to bolster its financial position and operational capabilities to foster growth in the future.

Insights from Innocan's CEO

Iris Bincovich, the CEO of Innocan Pharma, expressed enthusiasm about the ongoing partnership with Tamar Innovest, highlighting their critical role in the company's journey. The mutual trust and confidence demonstrate a strong commitment to Innocan’s vision and its unique strategies in the pharmaceutical tech landscape.

Tamar Innovest's Stake in Innocan

Tamar Innovest currently controls 49,726,309 common shares, representing roughly 17.14% of the total issued shares, establishing itself as an essential insider. Notably, the participation of Tamar Innovest in this offering qualifies as a related-party transaction under Canadian regulations. The company will optimize exemptions based on established thresholds to facilitate this transaction without the need for minority approval.

Regulatory Aspects

This news release emphasizes compliance with applicable securities laws. It articulates that the securities involved in this offering will not be available for sale in the United States, reinforcing commitment to regulatory obligations.

About Innocan Pharma

Innocan Pharma specializes in advancing drug delivery technologies, particularly leveraging cannabinoid science. With two main segments - Pharmaceuticals and Consumer Wellness - Innocan is dedicated to improving patient quality of life through innovative solutions. The Pharmaceutical arm focuses on a lipid-based delivery system for CBD, targeting conditions like epilepsy and pain management. Meanwhile, the Consumer Wellness segment encompasses a diverse range of self-care products intended to promote healthier lifestyles.

In conclusion, this strategic move to secure investment showcases Innocan’s robust outlook and commitment to leveraging partnerships for enhanced operational excellence and sustained growth in the pharmaceutical sector.

For more information about Innocan's ongoing projects or future endeavors, feel free to explore their official website: Innocan Pharma.