Innocan Pharma closes prospectus offering of units

1 minute read
10 June 2020

On June 10, 2020, Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) ("Innocan") announced the closing of its marketed short form prospectus offering of units for gross proceeds of $5,116,309.74.

The offering was led by Mackie Research Capital Corporation, as sole bookrunner, and Canaccord Genuity Corp. as co-lead agents, together with Haywood Securities Inc. and PI Financial Corp.

Innocan is an Israeli pharmaceutical technology company that focuses on the development of several drug delivery platforms combining cannabidiol ("CBD") with other pharmaceutical ingredients. Innocan and Ramot at Tel Aviv University are collaborating on the development of a new CBD-loaded exosome technology that targets both central nervous system indications and the COVID-19 coronovirus that may help in the recovery of infected lung cells.

Gowling WLG was counsel to Innocan in connection with the offering, with a team led by Jason A. Saltzman and that included Joseph McDonald and Amanda Stevens.

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