In This Article:
VANCOUVER, BC / ACCESS Newswire / January 29, 2025 / Onco-Innovations Limited (CSE:ONCO)(Frankfurt:W1H, WKN:A3EKSZ) ("Onco" or the "Company") is pleased to announce that its non-brokered private placement (the "Private Placement") of up to 408,164 units of the Company (the "Units") at a price of $2.45 per Unit, for aggregate gross proceeds of up to $1,000,000, as announced on January 27, 2025, is fully subscribed. Closing of the Private Placement is expected to occur on or about January 31, 2025.
The Company has received overwhelming interest from the market, which it believes reflects the strong confidence investors have in Onco-Innovations and its vision. The Company notes that under applicable regulations the earliest date the Company is permitted to close the financing is after market close on January 31, 2025, which the Company now also anticipates will be the closing date.
Under the Private Placement, each Unit shall consist of one common share (each a "Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"), with each (whole) Warrant entitling the holder to purchase one Share at an exercise price of $2.55 for a period of 24 months from the date of issuance.
All securities issued pursuant to the Private Placement will be subject to a hold period of four months and one day pursuant to applicable securities laws.
The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or available exemptions from such registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States, or in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Onco-Innovations Limited
Onco-Innovations is a Canadian-based company dedicated to cancer research and treatment, specializing in oncology. Onco's mission is to prevent and cure cancer through pioneering research and innovative solutions. The Company has secured an exclusive worldwide license to patented technology that targets solid tumours, setting new standards in cancer treatment. Onco's commitment to excellence and innovation drives it to develop advanced therapies that improve patient outcomes and offer hope in the fight against cancer.
ON BEHALF OF ONCO-INNOVATIONS LIMITED,
"Thomas O'Shaughnessy"
Chief Executive Officer