Algernon Announces Additional Increase to Private Placement Financing to $858,000 and Final Closing of the Financing

Core Viewpoint - Algernon Health Inc. has successfully closed a non-brokered private placement financing, raising a total of CAD $858,000 to support its Alzheimer's Disease program and other operational expenses [2][4]. Financing Details - The total gross proceeds from the fourth tranche amounted to CAD $117,501 from the sale of 1,678,586 units at an issue price of CAD $0.07 per unit [2]. - The overall financing raised CAD $857,001 from the sale of 12,242,872 units across all tranches [2]. Insider Participation - Certain insiders participated in the fourth tranche, contributing CAD $32,501, which is classified as a "related party transaction" under MI 61-101 [3]. - The company is relying on exemptions from valuation and minority shareholder approval requirements as the insider purchases did not exceed 25% of the company's market capitalization [3]. Use of Proceeds - Proceeds from the offering will be allocated towards advancing the company's Alzheimer's Disease program, including the opening of its first U.S. clinic, as well as for general administrative expenses and working capital [4]. Company Overview - Algernon Health is focused on providing brain-optimized PET scanning services for early-stage detection of Alzheimer's Disease and other neurological conditions through a planned network of clinics in North America [7].