Pittsburgh, Pennsylvania and Toronto, Ontario--(Newsfile Corp. - July 15, 2026) - Sharp Therapeutics Corp. (TSXV: SHRX) (OTCQB: SHRXF) ("Sharp" or the "Company") is pleased to announce that it is arranging a non-brokered private placement to raise gross proceeds of up to C$1,365,000 (the "Offering"). The Offering will consist of common shares in the capital of the Company (the "Common Shares") priced at not less than C$0.91 per Common Share. The Company expects the Offering to close in Q3 2026. The net proceeds of the Offering will be used for general working capital purposes.
Newlin Investment Company 1, LLC, an entity wholly owned by William R. Newlin, intends to subscribe for approximately US$200,000 as part of the Offering on the same terms as all other subscribers to the Offering. As a director and Chairman of the Company, Mr. Newlin is considered an insider.
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 ("MI 61-101"). 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).
All securities to be issued will be subject to a four (4) month hold period from the date of issuance and subject to TSX Venture Exchange approval. The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
Operational Update
The Company has elected to advance an alternative lead candidate in its lead program. The Company believes this decision delays its need for certain capital by approximately 6 to 12 months and reduces the amount of capital the Company requires in the near term relative to its previously contemplated financing plans.
Considering the lead program update and the resulting reduction in near-term capital requirements, the Company and STX Partners ("STX") have mutually agreed to terminate the previously announced letter agreement relating to a proposed financing of up to approximately US$10,000,000, together with the related conditional share purchase commitment from STX.