HERZLIYA, Israel and CALGARY, AB, Dec. 19, 2024 — Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTC: INNPF) (the “Company” or “Innocan“) plans a non-brokered private placement offering up to 3,500,000 units (“Units”) at C$0.20 per Unit, targeting up to C$700,000 in gross proceeds, plus a 15% over-allotment option (“Offering”). The Offering is anticipated to close around December 31, 2024.

 

Each Unit consists of one common share (“Common Share“) and one common share purchase warrant (“Warrant“). Each Warrant allows the holder to buy one Common Share at C$0.28 for four years from issuance.

Innocan intends to use the Offering proceeds for working capital and general corporate purposes.

Securities issued to Canadian subscribers will be subject to a four-month and one-day hold period, per Canadian securities laws.

This release isn’t an offer or solicitation to buy securities in the United States. These securities aren’t, and won’t be, registered under the U.S. Securities Act of 1933 or state securities laws. Therefore, they can’t be offered or sold in the United States, or to U.S. persons, unless registered or exempt from registration.

About Innocan

Innocan is a pharmaceutical and wellness innovator. Its pharmaceutical work includes a CBD-loaded liposome drug delivery platform for non-opioid pain management. In wellness, Innocan develops and markets self-care and beauty products through its 60%-owned subsidiary, BI Sky Global Ltd., focusing on advanced online sales.

For further information, please contact:
Iris Bincovich, CEO
+1-516-210-4025
+972-54-3012842
+44 203 769 9377

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary note regarding forward-looking information

This news release contains forward-looking information, including information about research and development, collaborations, regulatory filings, regulatory milestones, therapeutic effects, approvals, and market entry timing. Such information is subject to risks and uncertainties. It’s based on expectations and assumptions concerning product benefits, regulatory compliance, and production/distribution arrangements.

Forward-looking information is subject to risks, which could cause actual results to differ materially. These include general economic conditions, governmental regulations, supplier/manufacturer/customer/partner/competitor relationships, and risks inherent in product distribution (import/export, regulatory approvals, product availability). The market entry timeline may change due to regulatory issues or manufacturing/distribution arrangements. Therefore, readers shouldn’t over-rely on forward-looking information concerning product distribution launch timing. Further risk information is in Innocan’s public reports and filings.

Readers are cautioned not to over-rely on forward-looking information. Innocan won’t update forward-looking information unless required by law.

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