Rakovina closes $1 million debenture placement, settles $1.6 million debt

Rakovina Therapeutics Inc. (TSX-V: RKV; FSE: 7JO0) completed a $1 million private placement of convertible debenture units and entered into debt settlement agreements totaling $1,587,130.59, according to a company statement.

The Vancouver-based biopharmaceutical company issued 20 debenture units at $50,000 each. Each unit consists of one unsecured convertible debenture with a principal amount of $50,000 and 100,000 common share purchase warrants. The debentures mature on January 28, 2029, carry a 12% annual interest rate, and can be converted into common shares at $0.20 per share.

The warrants allow holders to purchase common shares at $0.20 each until January 28, 2029. Rakovina plans to use the proceeds for working capital and corporate activities while evaluating longer-term financing options.

Separately, the company settled outstanding debt of $1,587,130.59 from existing 12% convertible debentures. The settled amount includes $1,454,000 in principal and $133,130.59 in accrued interest as of March 5, 2026.

Under the settlement agreements, Rakovina will issue approximately 3,265,585 common shares at $0.12 per share to settle $391,870.60 of the debt. The remaining $1,195,259.99 will be settled through new replacement debentures and 2,390,519 warrants with terms similar to those in the private placement.

The debt settlement transactions are expected to close on or around March 9, 2026. All securities issued under both transactions require TSX Venture Exchange approval and are subject to a four-month-and-one-day statutory hold period under Canadian securities laws.

Rakovina focuses on developing cancer treatments using AI-powered drug discovery through its Deep-Docking and Enki platforms to target DNA-damage response mechanisms.

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