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Innocan Pharma Announces Offering of a Debenture to its Largest Shareholder, Tamar Innovest
Innocan Pharma Announces Offering of a Debenture to its Largest Shareholder, Tamar Innovest ...
About this update from Innocan Pharma Corporation
[{"type":"text","content":"\n\n\nInnocan Pharma Announces Offering of a Debenture to its Largest Shareholder, Tamar Innovest\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCanada NewsWire\n\n\nHERZLIYA, Israel and CALGARY, AB, March 11, 2026 /CNW/ -- Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTC: INNPF) (the \"Company\" or \"Innocan\") is pleased to announce that it intends to complete an 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\").\nThe Debenture will bear interest at the rate of 10% per annum and will mature 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 will be 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.The Offering is expected to close on or around March 12, 2026. 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\".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 Offering constitutes a \"related party transaction\" under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company intends to rely on the exemptions from the valuation and the minority approval requirements of MI 61-101 provided for in subsections 5.5(a) and 5.7(a) of ...