Onco-Innovations Limited (CBOE CA: ONCO) (OTCQB: ONNVF) has announced the execution of a term sheet with arm's-length institutional investors for a previously announced non-brokered private placement, aiming to raise approximately CAD$5 million. The offering will consist of 6,764,070 units at a notional price of CAD$0.7392 per unit, with each unit comprising one common share and one common share purchase warrant. The private placement is expected to close on or about July 15, 2026, subject to customary conditions and regulatory approvals.
The company stated that the proceeds from the financing are intended to support the development of its ONC010 program, including manufacturing and preclinical testing activities, as well as the advancement of its SynoGraph(TM) platform and general working capital. Under the proposed structure, the company's economic interest will be determined through 18 monthly settlement tranches based on the future trading price of its shares, with additional details to be provided upon closing.
Onco-Innovations is a Canadian-based company dedicated to cancer research and treatment, specializing in oncology. The company's mission is to pursue the prevention and treatment of cancer through pioneering research and innovative solutions. It has secured an exclusive worldwide license to patented technology that targets solid tumours. For more information, visit the company's newsroom at https://ibn.fm/ONNVF.
The full press release is available at https://ibn.fm/y3hsM.
