Sharp Therapeutics arranges $10 million private placement

Sharp Therapeutics Corp. (TSXV: SHRX) (OTCQB: SHRXF) announced it is arranging a non-brokered private placement to raise at least $10 million through the sale of common shares priced at a minimum of $2.50 per share.

The company expects the offering to close in the fourth quarter of 2025. Net proceeds will be used for general working capital purposes.

STX Partners, LLC, Sharp's largest shareholder, has committed to purchase at least 1.2 million common shares at $2.50 per share, representing approximately $3 million in gross proceeds. This commitment is contingent upon the company raising at least $7 million from other investors and closing the offering by December 15, 2025.

Other company insiders will also participate in the offering. The insider participation constitutes a related-party transaction under Multilateral Instrument 61-101, though the company is exempt from formal evaluation and minority shareholder approval requirements as the transaction value will not exceed 25% of the company's market capitalization.

"We are excited to continue to add to our investment position in Sharp and are very pleased with the scientific progress, including its Gaucher development candidate," said John Hathaway, managing partner of STX Partners.

Sharp CEO Scott Sneddon said the company has identified compound '901 as its candidate for Phase I trials in Gaucher disease, describing it as "an oral, CNS penetrant treatment for all forms of Gaucher as well as other lysosomal storage disorders."

All securities issued will be subject to a four-month hold period and require TSX Venture Exchange approval. The securities have not been registered under the U.S. Securities Act of 1933.

Sharp Therapeutics is a preclinical-stage company developing small-molecule therapeutics for genetic diseases.

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