CBD-Focused Pharma Co. Seeks Funding To Revolutionize Healthcare
Portfolio Pulse from Jelena Martinovic
Innocan Pharma Corporation (OTCQB:INNPF) has entered into an agreement with Research Capital Corporation for a private placement offering of units at $0.30 per unit, aiming to raise up to $3 million. The proceeds will be used for pre-investigational new drug meetings with the FDA, expansion of derma-cosmetic product distribution, and other purposes. The offering is expected to close around the week of October 10, 2023.
September 21, 2023 | 5:08 pm
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Innocan Pharma Corporation is raising up to $3 million through a private placement offering. This could potentially dilute the value of existing shares, but the funds raised will be used for strategic initiatives that could enhance the company's long-term value.
The private placement offering could dilute the value of existing shares in the short term, which may negatively impact the stock price. However, the funds raised will be used for strategic initiatives, including FDA meetings and product distribution expansion, which could enhance the company's long-term value and potentially offset any short-term negative impact.
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