Business
Innocan Pharma Announces Closing of a Debenture to its Largest Shareholder, Tamar Innovest
Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTC: INNPF) (the "Company" or "Innocan") is pleased to announce that it has closed its previously announced offering of a debenture of the Company (the "Debenture") to its largest shareholder, Tamar Innovest Ltd. ("Tamar Innovest") for gross proceeds of US $450,000 (the "Offering").
About this update from Innocan Pharma Corporation
[{"type":"text","content":"HERZLIYA, Israel and CALGARY, AB, March 16, 2026 /PRNewswire/ -- Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTC: INNPF) (the "Company" or "Innocan") is pleased to announce that it has closed its previously announced offering of a debenture of the Company (the "Debenture") to its largest shareholder, Tamar Innovest Ltd. ("Tamar Innovest") for gross proceeds of US $450,000 (the "Offering").","length":449,"tagName":"p"},{"type":"image","alt":"Innocan Pharma Logo","displaySize":"","headline":null,"caption":"Innocan Pharma Logo","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":283,"url":"https://media.zenfs.com/en/cnwgroup.com/7706f970d25ba77672f989a1db7cd166"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/MQ_objxOFBZ.dAp8fl2HIw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ5OTtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/7706f970d25ba77672f989a1db7cd166","width":400,"height":283}}},{"type":"text","content":"The Debenture will bear interest at the rate of 10% per annum and matures at the earlier of: (i) 12 months from the date of issuance; and (ii) the completion of the Company's previously announced proposed public offering in the United States pursuant to its registration statement on F-1 filed with the U.S. Securities and Exchange Commission, as amended. The Debenture is secured by the general security agreement already entered into by the parties on March 7, 2025 and related security interest filed under the laws of the Province of Alberta.","length":550,"tagName":"p"},{"type":"text","content":"Innocan intends to use the proceeds of the Offering for working capital, related cost of the NYSE listing and general corporate purposes. Iris Bincovich, Innocan's CEO stated, "We are delighted to receive an additional investment from our largest shareholder, Tamar Innovest".","length":295,"tagName":"p"},{"type":"text","content":"Related Party Transaction Disclosure","length":36,"tagName":"p"},{"type":"text","content":"Tamar Innovest currently beneficially owns and controls 765,020 Common Shares representing 17.00 % of the current issued and outstanding Common Shares and is an insider of the Company. Tamar Innovest is managed by Ralph Bossino, a director of the Company. As such, Tamar Innovest's participation in the Off...