PreveCeutical closes second tranche of private placement for $245,000

PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H0) announced the completion of a second tranche of its non-brokered private placement, raising $245,000 through the issuance of 9.8 million units priced at $0.025 each.

The company previously closed an initial tranche on May 12, 2026, which raised $340,000 through 13.6 million units. Combined proceeds from both tranches totaled $585,000.

Each unit consists of one common share and one-half of a share purchase warrant. The warrants allow holders to purchase additional shares at $0.05 per share for two years from the closing date. The company retains an acceleration right that can shorten the warrant expiry period to 30 days if share prices reach $0.10 or higher for ten consecutive trading days.

PreveCeutical paid $16,000 in advisory commission fees and issued 640,000 advisory commission warrants to one finder in connection with the second tranche. The company paid $1,600 in fees and issued 64,000 similar warrants for the initial tranche.

The company stated it will use proceeds to pay outstanding payables, operating expenses and general working capital purposes. Securities issued in the second tranche are subject to a four-month and one-day hold period under applicable securities laws.

PreveCeutical indicated it intends to close additional tranches within the next four weeks to complete the remaining portion of the private placement offering.

The Vancouver-based health sciences company develops preventive and curative therapies using organic and nature-identical products across five research programs including diabetes and obesity gene therapy, peptide treatments, and concussion therapeutics.

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