- Innocan Pharma (INNO) is pleased to announce the full exercise of all purchase warrants issued during the company’s December 2020 private placement
- Innocan received approximately $1.4 million from the warrants and issued 3,998,705 common shares
- Innocan Pharma is a pharmaceutical tech company
- InnoCan Pharma Corporation (INNO) opened trading at C$0.81 per share
Innocan Pharma (INNO) is pleased to announce the full exercise of all purchase warrants issued during the company’s December 2020 private placement.
The exercise of the warrants by the investors resulted in total cash receipts of approximately $1.4 million and the issuance of 3,998,705 common shares. This marks the completion of the third round of warrant exercises in two years.
Innocan had the right to accelerate the expiry date of the warrants if the daily volume-weighted average trading price of the company’s shares on the CSE equalled or exceeded $0.70 for any period of 30 consecutive trading days.
“This remarkable achievement demonstrates a much-appreciated act of trust and confidence from our investors,” said Iris Bincovich, CEO of Innocan Pharma.
“We are excited that our investors have enjoyed the appreciation of their initial investment, and in addition they have decided to invest more. We are humbled by the continued support of our investor community, as Innocan Pharma continues to grow and secure its place as an innovator within the CBD space.”
Innocan, together with its wholly-owned subsidiary, Innocan Pharma Ltd. is a pharmaceutical tech company that focuses on the development of drug delivery platforms containing CBD.
InnoCan Pharma Corporation (INNO) opened trading at C$0.81 per share.