On July 31, 2026 Sona Nanotech Inc. (CSE: SONA, OTCQB: SNANF) (the "Company", "Sona") reported that it plans to raise up to $2,400,000 through a private placement financing (the "Financing") of up to 8,000,000 common shares of Sona (each, a "Share") at a price of $0.30 per Share (the "Offering Price"). Insiders and certain other existing shareholders of Sona may also subscribe for Shares under the Financing.

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Sona intends to use the net proceeds of the Financing for advancing studies to support the clinical advancement and continuing research and development work on its Targeted Hyperthermia TherapyTM ("THT") oncology treatment, as well as for general working capital purposes.

Completion of the Financing is subject to the satisfaction of certain conditions as well as the approval of the Canadian Securities Exchange. All securities issued pursuant to the Financing will be subject to a hold-period of four months and a day commencing from the closing date.

(Press release, Sona Nanotech, JUL 31, 2026, View Source [SID1234669580])