{"id":57700,"date":"2024-07-27T12:04:22","date_gmt":"2024-07-27T12:04:22","guid":{"rendered":"https:\/\/english.saigonbiz.com.vn\/2024\/07\/27\/rakovina-therapeutics-closes-previously-announced-over-subscribed-private-placement\/"},"modified":"2024-07-27T12:04:22","modified_gmt":"2024-07-27T12:04:22","slug":"rakovina-therapeutics-closes-previously-announced-over-subscribed-private-placement","status":"publish","type":"post","link":"https:\/\/english.saigonbiz.com\/vn\/rakovina-therapeutics-closes-previously-announced-over-subscribed-private-placement\/","title":{"rendered":"Rakovina Therapeutics Closes Previously Announced Over-subscribed Private Placement"},"content":{"rendered":"
\n

All dollar amounts reflected in Canadian dollars unless otherwise stated.<\/em><\/p>\n

VANCOUVER, British Columbia, July 26, 2024 (GLOBE NEWSWIRE) — Rakovina Therapeutics Inc. (TSX-V: RKV) (the \u201cCompany\u201d), a biopharmaceutical company committed to advancing new cancer therapies based on novel DNA-damage response technologies, announces that, further to the press releases dated May 23, 2024, June 20, 2024, July 19, 2024, and July 22, 2024, the Company has closed its previously announced over-subscribed non-brokered private placement (the \u201cPrivate Placement\u201d) for gross proceeds to the Company of $2 million.<\/p>\n

In connection with the Private Placement, the Company issued 19,950,000 units (each, a \u201cUnit\u201d) at a purchase price of $0.10 per Unit. Each Unit is comprised of one common share of the Company (each, a \u201cCommon Share\u201d) and one Common Share purchase warrant (each, a \u201cWarrant\u201d). Each Warrant entitles the holder thereof to subscribe for and purchase one Common Share at a purchase price of $0.20 for a period of three years from the date of issuance. If the closing price for the Common Shares on the TSX Venture Exchange (the \u201cTSXV\u201d) is $0.25 or greater for five consecutive trading days, the Company will have the right to accelerate the expiry date of the Warrants, upon written notice to the holder, to the date that is 30 days following such notice.<\/p>\n

According to Executive Chairman Jeffrey Bacha, the funds will be used to further the company\u2019s Artificial Intelligence (AI) fueled drug candidate research. Bacha said, \u201cWe are continuing activities under our AI collaboration to screen billions of drug candidates against DNA-damage response targets. We anticipate having initial output from this effort in the form recommended molecular structures for validation in our laboratories at the University of British Columbia in early fall, which puts us on track to have initial data from validating in vivo models later this year.\u201d<\/p>\n

Defects on our natural DNA-damage response mechanism are involved in the formation and growth of approximately three out of every four cancers. First generation DDR-inhibitors, called PARP-inhibitors, currently generate approximately $3 billion in annual sales and have provided significant benefit to patients diagnosed with certain types of breast, ovarian and prostate cancer. Rakovina Therapeutics\u2019 goal is to advance one or more next-generation DDR drug candidates into human clinical trials in collaboration with pharmaceutical partners.<\/p>\n

In connection with the Private Placement, the Company paid a cash finder\u2019s fee to Hampton Securities Limited totaling $1,200 and issued 12,000 finder\u2019s warrants (each, a \u201cFinder\u2019s Warrant\u201d). Each Finder\u2019s Warrant entitles the holder thereof to subscribe for and purchase one Common Share at a purchase price of $0.20 for a period of three years from the date of issuance, subject to acceleration on the same terms as the Warrants issued in connection with the Private Placement.<\/p>\n

The Private Placement is subject to the final acceptance of the TSX-V and all securities issuable in connection with the Private Placement are subject to resale restrictions for a period of four months plus one day from the date of issuance.<\/p>\n

About<\/strong> Rakovina<\/strong> Therapeutics<\/strong> Inc.<\/strong>
Rakovina Therapeutics Inc. is focused on the development of new cancer treatments based on novel DNA-damage response technologies. The Company has established a pipeline of novel DNA-damage response inhibitors with the goal of advancing one or more drug candidates into human clinical trials and obtaining marketing approval for new cancer therapeutics from Health Canada, the United States Food and Drug Administration and similar international regulatory agencies. Further information may be found at www.rakovinatherapeutics.com<\/u><\/a>.<\/p>\n

The<\/em> TSX-V<\/em> has<\/em> neither<\/em> approved<\/em> nor<\/em> disapproved<\/em> the<\/em> content<\/em> of<\/em> this<\/em> press<\/em> release.<\/em> Neither<\/em> the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.<\/em><\/p>\n

Notice<\/strong> Regarding<\/strong> Forward-Looking<\/strong> Statements:<\/strong>
This release includes forward-looking statements regarding the Company and its respective business, which<\/em> may<\/em> include, but is<\/em> not<\/em> limited<\/em> to, the receipt of final TSX-V approval, the proposed business plan of the Company and other statements. Often, but not always, forward-looking statements can be identified by the use of words such as \u201cplans\u201d, \u201cis expected\u201d, \u201cexpects\u201d, \u201cscheduled\u201d, \u201cintends\u201d, \u201ccontemplates\u201d, \u201canticipates\u201d, \u201cbelieves\u201d, \u201cproposes\u201d or variations (including negative variations) of such words and phrases, or state that certain actions, events, or results \u201cmay\u201d, \u201ccould\u201d,<\/em> \u201cwould\u201d,<\/em> \u201cmight\u201d<\/em> or<\/em> \u201cwill\u201d be<\/em> taken,<\/em> occur<\/em> or<\/em> be<\/em> achieved.<\/em> Such statements<\/em> are<\/em> based<\/em> on the current expectations of the management of the Company. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ<\/em> materially as<\/em> a result<\/em> of<\/em> known<\/em> and unknown risk<\/em> factors<\/em> and<\/em> uncertainties<\/em> affecting the Company, including risks regarding the medical device industry, economic factors, regulatory factors and the need for regulatory approval, the equity markets generally and risks associated with growth and competition.<\/em><\/p>\n

Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements,<\/em> there<\/em> may<\/em> be<\/em> other<\/em> factors<\/em> that<\/em> cause<\/em> actions,<\/em> events,<\/em> or<\/em> results<\/em> to<\/em> differ<\/em> from<\/em> those anticipated,<\/em> estimated<\/em> or<\/em> intended.<\/em> No<\/em> forward-looking<\/em> statement<\/em> can<\/em> be<\/em> guaranteed.<\/em> Except<\/em> as required by<\/em> applicable securities laws,<\/em> forward-looking statements<\/em> speak only as of<\/em> the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.<\/em> The reader is referred to the Company\u2019s most recent filings on SEDAR+ for a more complete<\/em> discussion<\/em> of<\/em> all<\/em> applicable<\/em> risk<\/em> factors<\/em> and<\/em> their<\/em> potential<\/em> effects,<\/em> copies<\/em> of<\/em> which<\/em> may be accessed through the Company\u2019s profile page at <\/em>www.sedar.com.<\/em><\/a><\/p>\n

For Further Information Contact: <\/strong>David Hyman, Chief Financial Officer info@rakovinatehrapeutics.com<\/u><\/a><\/p>\n

Investor Relations & Media Ira M. Gostin ir@rakovinatherapeutics.com<\/u><\/a> 775-391-0213<\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

All dollar amounts reflected in Canadian dollars unless otherwise stated. VANCOUVER, British Columbia, July 26, 2024 (GLOBE NEWSWIRE) — Rakovina Therapeutics Inc. (TSX-V: RKV) (the \u201cCompany\u201d), a biopharmaceutical company committed to advancing new cancer therapies based on novel DNA-damage response technologies, announces that, further to the press releases dated May 23, 2024, June 20, 2024, […]\n","protected":false},"author":1,"featured_media":57701,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-57700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pr-newswire"],"yoast_head":"\nRakovina Therapeutics Closes Previously Announced Over-subscribed Private Placement - Biz and Live in Saigon<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/english.saigonbiz.com\/vn\/rakovina-therapeutics-closes-previously-announced-over-subscribed-private-placement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rakovina Therapeutics Closes Previously Announced Over-subscribed Private Placement\" \/>\n<meta property=\"og:description\" content=\"All dollar amounts reflected in Canadian dollars unless otherwise stated. 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