Rakovina Announces Closing of $1 Million Debenture Unit Private Placement and Debt Settlement Agreements

Core Viewpoint - Rakovina Therapeutics Inc. has successfully closed a non-brokered private placement of convertible debenture units, raising gross proceeds of $1,000,000, and has entered into debt settlement agreements to address an outstanding debt of $1,587,130.59 [1][4] Debenture Unit Private Placement - The Debenture Units were issued at a price of $50,000 each, consisting of one unsecured convertible debenture in the principal amount of $50,000 and 100,000 warrants [2] - Each warrant allows the holder to purchase one common share at an exercise price of $0.20 per share until January 28, 2029 [2] Debt Settlement - The company has settled an aggregate amount of $1,587,130.59, which includes a principal amount of $1,454,000 and accrued interest of $133,130.59 [1] - Holders of existing debentures can choose to receive either settlement shares or replacement debentures; approximately 3,265,585 settlement shares will be issued at a deemed price of $0.12 per share [6] - The remaining holders will receive replacement debentures and warrants totaling $1,195,259.99, with terms similar to the new debentures issued in the private placement [6] Use of Proceeds - The proceeds from the Debenture Private Placement will be utilized for near-term working capital to support ongoing corporate activities and strategic initiatives [4] Company Overview - Rakovina Therapeutics is focused on developing innovative cancer treatments using AI-powered drug discovery technologies, specifically targeting the DNA-damage response [9][10]