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Sharp Therapeutics Provides Update on Non-Brokered Private Placement and Grant of Options
Pittsburgh, Pennsylvania and Toronto, Ontario--(Newsfile Corp. - December 19, 2025) - Sharp Thera...
About this update from Sharp Therapeutics Corp.
[{"type":"text","content":"Sharp Therapeutics Provides Update on Non-Brokered Private Placement and Grant of OptionsPittsburgh, Pennsylvania and Toronto, Ontario--(Newsfile Corp. - December 19, 2025) - Sharp Therapeutics Corp. (TSXV: SHRX) (OTCQB: SHRXF) (\"Sharp\" or the \"Company\"), is pleased to announce that the non-brokered private placement to raise gross proceeds of not less than US$10,000,000 (the \"Offering\") previously announced on October 14, 2025 has been updated. The placement will consist of common shares in the capital of the Company priced at not less than US$2.50 per share. The Company expects the offering to close in the first quarter of 2026. The net proceeds of the Offering will be used for general working capital purposes.STX Partners, LLC (\"STX\"), Sharp's largest shareholder, and an insider of the Company, has executed a letter agreement to increase the total commitment to purchase of not less than 1,600,000 common shares at per share price of US$2.50 representing approximately US$4,000,000 in gross proceeds to the Company, contingent upon: (i) the Company successfully raising not less than US$6,000,000 from other current or new investors; and (ii) the closing of the Offering occurring not later than March 15, 2026. Other insiders of the Company will also be participating in the Offering.The participation of the Company's insiders in the Offering will constitute a related-party transaction for the purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. The Company is exempt from the requirements to obtain a formal evaluation or minority shareholder approval in connection with the insider participation in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities issued, nor the fair market value of the consideration for the securities issued will exceed 25 per cent of the Company's market capitalization (as calculated in accordance with MI 61-101).John Hathaway, Managing Partner of STX, stated that, \"Sharp continues to deliver meaningful scientific progress, and we're increasing our investment commitment because we believe their best work is still ahead of them. The scientific breakthroughs we're seeing from this team represent exactly the kind of innovation that creates lasting value.\"Scott Sneddon, Sharp's CEO, said, \"The Co...