On August 12, 2026 Rakovina Therapeutics Inc. (TSX-V: RKV) (FSE: 7JO0), a biopharmaceutical company advancing innovative cancer therapies through AI-powered drug discovery, reported that it has closed the first tranche (the "First Tranche") of its previously announced non-brokered private placement (the "Offering"), initially announced on July 15, 2026. The First Tranche consisted of 13,940,000 units ("Units") at a price of $0.10 per Unit for aggregate gross proceeds of $1,394,000. The Company is also pleased to announce that, due to strong investor demand, it is increasing the size of the Offering from $1,500,000 to up to $2,000,000 and extending the Offering by 30 days to September 10, 2026.
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Each 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 First Tranche, the Company paid aggregate cash finder’s fees of $85,315 and issued an aggregate of 853,150 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.
"We are encouraged by the strong support we’ve received from both existing shareholders and new investors," said Kim Oishi, Chief Executive Officer of Rakovina Therapeutics. "Increasing the size of this financing positions us to build on our scientific momentum and execute on important milestones ahead as we work to deliver transformational therapies for patients. In addition, we are enhancing our relationships with the AI companies that help us accelerate drug discovery and development and seeking non-dilutive financing from government and industry sources."
Insider Participation
Insiders of the Company purchased an aggregate of 1,900,000 Units in the First Tranche for aggregate gross proceeds of $190,000. Participating insiders were Kim Oishi, Chief Executive Officer and Director of the Company, whose subscription was made through First Growth Equity Partners Inc., and David Kideckel, Chief Financial Officer and Director of the Company. The Units issued to insiders are subject to a four months and one day hold period pursuant to applicable policies of the TSX Venture Exchange (the "TSXV").
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 Offering remains subject to customary closing conditions, including approval by the TSXV. The Company expects to close one or more additional tranches of the Offering.
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.
(Press release, Rakovina Therapeutics, AUG 12, 2026, View Source;utm_medium=rss&utm_campaign=rakovina-therapeutics-announces-closing-of-first-tranche-upsize-and-extension-of-non-brokered-private-placement [SID1234670016])