Onco-Innovations Limited (CBOE CA: ONCO) (OTCQB: ONNVF) announced it has executed a term sheet with arm's-length institutional investors for a previously announced non-brokered private placement with a notional subscription amount of 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 placement is expected to close on or about July 15, 2026, subject to customary conditions and regulatory approvals.
The company stated that proceeds from the financing are intended to support development of its ONC010 program, including manufacturing and preclinical testing activities, advancement of its SynoGraph 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 on this announcement, the full press release can be accessed at https://ibn.fm/y3hsM. The latest news and updates relating to ONNVF are available in the company's newsroom at https://ibn.fm/ONNVF.
