PreveCeutical closes fourth tranche, raising $1M in total placement

PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H0) has closed the fourth tranche of a non-brokered private placement, issuing 8,600,000 units at $0.025 per unit for gross proceeds of $215,000, according to a press release.

Combined with three earlier tranches closed in May, June, and July 2026, the company has raised aggregate gross proceeds of $1,000,000 from the offering. The first tranche raised $340,000, the second raised $245,000, and the third raised $200,000.

Each unit consists of one common share and one-half of a share purchase warrant. Each whole warrant allows the holder to purchase one additional share at $0.05 for two years from the fourth tranche closing. An acceleration right applies if the daily closing price of shares equals or exceeds $0.08 on the Canadian Securities Exchange for at least 10 consecutive trading days. The company also corrected an error from prior news releases, noting the acceleration price is $0.08 per share, not $0.10 as previously stated.

In connection with the fourth tranche, the company paid a cash finder's fee of $17,200 and issued 688,000 finder's warrants to one eligible finder, exercisable at $0.05 per share for two years.

The company said proceeds from the fourth tranche will be used for short loan repayments, audit, accounting and legal fees, patents, further research studies, and general working capital. All securities issued are subject to a hold period of four months and one day from closing.

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