Rakovina Therapeutics closes $1.99M non-brokered private placement

Rakovina Therapeutics Inc. (TSX-V: RKV) (FSE: 7JO0) has completed the second and final tranche of its non-brokered private placement, raising aggregate gross proceeds of $1,991,000 across both tranches, according to a press release statement.

The second tranche consisted of 5,970,000 units priced at $0.10 per unit, generating $597,000. The first tranche of 13,940,000 units, which closed on Aug. 12, 2026, raised $1,394,000. In total, the company issued 19,910,000 units under the offering.

Each unit includes one common share and one-half of one common share purchase warrant. Each whole warrant allows the holder to purchase one additional share at $0.20 for 24 months from the date of issue.

In connection with the second tranche, the company paid $26,810 in cash finder's fees and issued 264,100 finder's units to arm's length finders.

Insiders participated in the offering, subscribing for an aggregate of 2,120,000 units for gross proceeds of $212,000, including 220,000 units in the second tranche. All insider units are subject to a four-month-and-one-day hold period under TSX Venture Exchange policies.

The company said proceeds will be used primarily for in vivo ADME and efficacy testing for its kt-5000AI dual ATR/mTOR inhibitor program, AI-driven lead optimization through its collaboration with Variational AI, advancement of the kt-3000 LNP formulation program, continued kt-2000AI compound development, and general working capital.

"Completing this upsized financing provides the resources we need to achieve value enhancing milestones," said Kim Oishi, Chief Executive Officer of Rakovina Therapeutics. "We will use these funds to advance our three programs, strengthen relationships with our AI collaborators and pursue non-dilutive funding from government and industry sources."

The closing of the second tranche remains subject to final acceptance by the TSX Venture Exchange. All securities issued under the offering are subject to a hold period of four months and one day from the closing date.

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