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Burcon Announces Closing of First Tranche of Non-Brokered Private Placement of Convertible Debentures
Vancouver, British Columbia--(Newsfile Corp. - January 2, 2026) - Burcon NutraScience Corporation...
About this update from Burcon Nutrascience Corporation
[{"type":"text","content":"Burcon Announces Closing of First Tranche of Non-Brokered Private Placement of Convertible DebenturesVancouver, British Columbia--(Newsfile Corp. - January 2, 2026) - Burcon NutraScience Corporation (TSX: BU) (OTCQB: BRCNF) (\"Burcon\" or the \"Company\"), a global technology leader in plant-based protein innovation, is pleased to announce the closing of the first tranche of a non-brokered private placement of convertible debentures (the \"Convertible Debentures\") for an aggregate principal amount of up to $6.3 million (the \"Private Placement\"). Insiders of the Company and Burcon's manufacturing partner owners are committed to participating at a minimum of $5.0 million in principal amount. The Private Placement has been conditionally approved by the Toronto Stock Exchange (\"TSX\") subject to Burcon complying with the terms of such conditional approval, including receipt of disinterested shareholder approval.\"The strong support for this financing, particularly from our insiders and manufacturing partner owners, reflects confidence in Burcon's strategy and progress,\" said Kip Underwood, Burcon's Chief Executive Officer. \"The closing of this first tranche strengthens our financial position and enables us to accelerate production and ingredient sales to meet increasing customer demand.\"The Company will close the Private Placement in two tranches and has closed the first tranche of the Private Placement through a direct investment from its manufacturing partner owners for gross proceeds of $1.25 million. Shareholder approval is required prior to closing the final tranche of the Private Placement. Pursuant to sections 604 and 607 of the TSX Company Manual, shareholder approval will be required given the expected aggregate participation levels by insiders in the Private Placement, the consideration provided to insiders under the Private Placement, the aggregate size of the private placement overall and the expected aggregate participation by Mr. John Vassallo, a director of the Company, resulting in Mr. Vassallo and his associates and affiliates owning or controlling, directly or indirectly, greater than 20% of the outstanding shares of the Company after the Private Placement. The Company expects to close the final tranche of the Private Placement following the special meeting of shareholders scheduled for February 20, 202...