Rakovina Therapeutics Inc. (TSX-V: RKV, the
“
Company”, “
Rakovina”, or
“
Rakovina Therapeutics”) a biopharmaceutical
company committed to advancing new cancer therapies based on novel
DNA-damage response technologies is pleased to announce the closing
of a $3.0 million private placement.
The private placement consists of 50,000,000 units (the
“Units”) at a price of $0.06 per Unit. Each Unit
consists of one common share of the Company (each, a
“Common Share”) and one Common Share purchase
warrant (each, a “Warrant”). Each Warrant entitles
the holder thereof to subscribe for and purchase one Common Share
of the Company for a period of 24 months from the date of issue at
a price of $0.10 per Common Share. Rakovina retains the right to
accelerate the Warrant exercise period if, upon written notice to
the holder, the 20-day volume-weighted average price of its Common
Shares exceeds $0.30.
In connection with the Private Placement, the Company paid cash
finder’s fees to Canaccord Genuity Corp., Ventum Financial Corp.,
Haywood Securities Inc., Research Capital Corporation, Hampton
Securities Limited, Ewing Morris & Co. Investment Partners Ltd.
and Leede Financial Inc. (each a “Finder”, and
collectively, the “Finders”) in the aggregate
amount of $180,841 and issued a total of 3,021,872 non-transferable
finder’s warrants (each, a “Finder’s Warrant’) to
the Finders, in accordance with the policies of the TSX Venture
Exchange (the “TSXV”). Each Finder’s Warrant
entitles the holder thereof to subscribe for and purchase one
Common share of the Company for a period of 24 months from the date
of issue at a price of $0.10 per Common Share, subject to
acceleration on the same terms as the Warrants issued in connection
with the private placement.
The private placement is subject to the final acceptance of the
TSXV and all securities issuable in connection with the private
placement are subject to a hold period of four months plus one day
from the date of issuance, in accordance with applicable securities
laws.
The proceeds of the private placement will be used to accelerate
both discovery and development of the Company’s proprietary drug
candidates, shortlisted from the Deep Docking and Variational AI
platforms.
“This overwhelming response from our investors underscores the
strength of our science, the extraordinary talent and dedication of
our team and the transformative potential of our therapies,” said
Jeffrey Bacha, Executive Chairman of Rakovina Therapeutics. “We are
deeply grateful for the trust placed in us and remain resolute in
our mission to utilize leading AI technologies to develop
innovative solutions for cancer care.”
The Company extends its heartfelt thanks to its investors,
partners, and team for their unwavering support as Rakovina
continues its work to bring new hope to patients and families
affected by cancer.
Rakovina is pleased to announce its engagement of Fairfax
Partners Inc. as its Investor Relations (IR) partner. With
extensive expertise in investor engagement strategies, Fairfax will
implement a comprehensive six-month IR program designed to enhance
Rakovina’s market presence and expand its investor base. The
program, which includes an option to renew for an additional six
months, focuses on complementing traditional IR efforts with
targeted online marketing campaigns, activation of a robust social
media influencer network, and collaboration with external
consultants and global wealth management channels. These
initiatives will support Rakovina’s strategic plan for 2025 by
institutionalizing its investor base and strengthening its
distribution capabilities.
Under the agreement, Fairfax will receive a monthly fee of
$5,000 plus GST, a one-time setup fee of $15,000 plus GST, and a
marketing budget of $120,000 plus GST, disbursed as follows:
$80,000 upon signing and $40,000 two months later. Services
provided by Fairfax include inbound and outbound phone
communications, website and social media management, marketing
material preparation, news release support, and roadshow
assistance, ensuring Rakovina’s IR efforts align with market
expectations. Fairfax Partners Inc., located at 306-1238 Seymour
Street, Vancouver, BC, confirms that neither its directors nor
officers hold any securities of Rakovina. For inquiries, please
contact connect@fairfaxpartners.com.
“We are thrilled to partner with the seasoned team at Fairfax
Partners to expand our investor base and increase awareness of
Rakovina Therapeutics’ vision. Fairfax’s creative and
forward-thinking approach to investor relations will be a critical
asset as we enter a pivotal year. By harnessing their extensive
network and digital expertise, we aim to significantly enhance our
market presence and deliver lasting value to our shareholders,”
said Mr. Bacha.
About Rakovina Therapeutics Inc.
Rakovina Therapeutics Inc. is dedicated to developing innovative
cancer therapies targeting the DNA-damage response. The company has
established a development pipeline of novel DNA-damage response
inhibitors by leveraging Artificial Intelligence (AI) to accelerate
the identification and optimization of drug candidates. Rakovina
Therapeutics aims to advance one or more of these candidates into
human clinical trials in collaboration with pharmaceutical partners
and secure marketing approvals from Health Canada, the U.S. Food
and Drug Administration, and other international regulatory
agencies. Further information may be found at
www.rakovinatherapeutics.com.
The TSXV has neither approved nor disapproved the content of
this press release. Neither the TSXV 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 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 terms of the private
placement, the closing of the private placement, the receipt of
final TSXV approval, the proposed business plan of the Company; the
Company’s commitment to advancing new cancer therapies; the ability
of the Company to extract value from its AI collaborations; the
Company’s ability to execute on its business plans while
maintaining high standards of research; the ability of Pharma
Inventor Inc. to accurately provide medicinal chemistry support;
the projected timeline and effectiveness of the Company’s strategy
to utilize the Deep Docking AI platform; and the Company’s ability
to generate shareholder value. 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 medical device 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: David Hyman,
Chief Financial Officer info@rakovinatherapeutics.com
Invest Relations &Media Michelle
Seltenrichir@rakovinatherapeutics.com778-773-5432
Rakovina Therapeutics (TSXV:RKV)
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