Rakovina Therapeutics Announces Final Closing of Upsized Non-Brokered Private Placement

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Postmedia has not reviewed the content. by GlobeNewswire Rakovina Therapeutics Announces Final Closing of Upsized Non-Brokered Private PlacementAuthor of the article:Financing completed at the full upsized amount following strong investor demandTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountVANCOUVER, British Columbia, Aug. 31, 2026 (GLOBE NEWSWIRE) — Rakovina Therapeutics Inc. (TSX-V: RKV) (FSE: 7JO0), a biopharmaceutical company advancing innovative cancer therapies through AI-powered drug discovery, is pleased to announce that it has closed the second and final tranche (the “Second Tranche”) of its previously announced non-brokered private placement (the “Offering”), initially announced on July 15, 2026 and upsized on August 12, 2026.The Second Tranche consisted of 5,970,000 units (“Units”) at a price of $0.10 per Unit for gross proceeds of $597,000. Together with the first tranche of 13,940,000 Units for gross proceeds of $1,394,000, which closed on August 12, 2026, the Company issued an aggregate of 19,910,000 Units under the Offering for aggregate gross proceeds of $1,991,000.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againEach Unit consists of one common share of the Company (each a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each whole Warrant entitles the holder to acquire one additional Share at an exercise price of $0.20 per Share for a period of 24 months from the date of issue.In connection with the Second Tranche, the Company paid aggregate cash finder’s fees of $26,810 and issued an aggregate of 264,100 finder’s units (the “Finder’s Units”) to arm’s length finders. Each Finder’s Unit entitles the holder to acquire one Share at a price of $0.10 per Share and one-half of one share purchase warrant, with each whole warrant exercisable to acquire one additional Share at a price of $0.20 per Share, in each case for a period of 24 months from the date of issue.Proceeds of the Offering will be used to advance Rakovina’s pipeline, with a primary focus on in vivo ADME and efficacy testing for the kt-5000AI dual ATR/mTOR inhibitor program and continued AI-driven lead optimization through the Company’s collaboration with Variational AI. Funds will also support advancement of the kt-3000 LNP formulation program, ongoing kt-2000AI compound development, and general working capital.“Completing this upsized financing provides the resources we need to achieve value enhancing milestones,” said Kim Oishi, Chief Executive Officer of Rakovina Therapeutics. “We will use these funds to advance our three programs, strengthen relationships with our AI collaborators and pursue non-dilutive funding from government and industry sources.”Insiders of the Company subscribed for an aggregate of 2,120,000Units across the Offering, for aggregate gross proceeds of $212,000. Of this aggregate amount, insiders subscribed for 220,000 Units in the Second Tranche for gross proceeds of $22,000. All Units issued to insiders are subject to a hold period of four months and one day pursuant to applicable policies of the TSX Venture Exchange (the “TSXV”).This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.The issuance of Units to insiders is considered a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(a) in respect of such insider participation, as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25% of the Company’s market capitalization.The closing of the Second Tranche remains subject to the final acceptance of the TSXV.The Units were issued pursuant to exemptions from the prospectus requirements under Canadian securities laws under National Instrument 45-106 – Prospectus Exemptions. All securities issued under the Offering are subject to a hold period of four months and one day from the date of closing, in addition to any other restrictions under applicable law.About Rakovina Therapeutics Inc.Rakovina Therapeutics is a biopharmaceutical research company focused on the development of innovative cancer treatments. Our work is based on unique technologies for targeting the DNA-damage response powered by Artificial Intelligence (AI) using validated, proprietary platforms. By using AI, we can review and optimize drug candidates at a much greater pace than ever before.The Company has established a pipeline of distinctive DNA-damage response inhibitors with the goal of advancing one or more drug candidates into human clinical trials in collaboration with pharmaceutical partners. Further information may be found at www.rakovinatherapeutics.com.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.Notice Regarding Rakovina Therapeutics Forward-Looking Statements:This release includes forward-looking statements regarding the company and its respective business, which may include, but is not limited to, statements with respect to the proposed business plan of the company and other statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans,” “is expected,” “expects,” “scheduled,” “intends,” “contemplates,” “anticipates,” “believes,” “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events, or results “may,” “could,” “would,” “might,” or “will” be taken, occur, or be achieved. Such statements are based on the current expectations of the management of the company. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, including risks regarding the biopharmaceutical industry, economic factors, regulatory factors, the equity markets generally, and risks associated with growth and competition.Although the company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated, or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made, and the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. The reader is referred to the company’s most recent filings on SEDAR+ for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the company’s profile page at www.sedar.com.For Further Information Contact:Rakovina Therapeutics Inc.IR@rakovinatherapeutics.comNotice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.