Algernon Closes Second Tranche of Private Placement Financing

Core Points - Algernon Health Inc. has closed the second tranche of its non-brokered private placement, raising gross proceeds of CAD $210,000 from the sale of 3,000,000 units at an issue price of CAD $0.07 per unit [2][3] - The funds raised will be utilized to advance the company's Alzheimer's Disease program, including the opening of its first U.S. Alzheimer's Disease clinic, as well as for general administrative expenses and working capital [3] - The securities issued are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with Canadian securities legislation [4] Company Overview - Algernon Health is a Canadian healthcare company focused on providing brain-optimized PET scanning services for early-stage detection of Alzheimer's Disease and other neurological conditions [6] - The company has established a private subsidiary, Algernon USA LLC, to oversee its U.S. neuroimaging operations [6]