PreveCeutical increases private placement to $1.2 million

PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) announced the approval of all resolutions at its annual general and special meeting held October 10, 2025, and increased the size of its non-brokered private placement financing.

The Vancouver-based health sciences company reported that shareholders approved the election of four directors: Stephen Van Deventer, Makarand Jawadekar, Kathleen Rokita and C. Evan Ballantyne. The meeting also ratified Davidson & Company LLP as auditors for fiscal years ending December 31, 2024 and 2025.

Shareholders approved a plan of arrangement under British Columbia's Business Corporations Act to distribute up to 12 million common shares of BioGene Therapeutics Inc. to PreveCeutical shareholders. The meeting also adopted the company's Omnibus Equity Incentive Plan.

The company increased its private placement from 25 million units to 30 million units at $0.04 per unit, raising the potential gross proceeds from $1 million to $1.2 million. On September 5, 2025, PreveCeutical closed the first tranche, issuing 16.16 million units for gross proceeds of $646,500.

Each unit consists of one common share and one-half warrant. Each full warrant allows the purchase of an additional share at $0.06 for 24 months from closing. The warrants include an acceleration clause that could reduce the exercise period to 30 days if shares trade at $0.18 or higher for 10 consecutive trading days on the CSE.

All securities from the offering are subject to a four-month-plus-one-day hold period under applicable securities laws. The securities have not been registered under the U.S. Securities Act of 1933 and cannot be offered or sold in the United States without registration or exemption.

PreveCeutical develops preventive and curative therapies using organic and nature-identical products, with five research programs including dual gene therapy for diabetes and obesity treatment.

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