Rakovina Therapeutics Closes Prior to Announced Over-subscribed Private Placement

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All dollar amounts are expressed in Canadian dollars unless otherwise stated.

VANCOUVER, British Columbia, July 26, 2024 (GLOBE NEWSWIRE) – Rakovina Therapeutics Inc. announces that, further to press releases dated May 23, 2024, June 20, 2024, July 19, 2024, and July 22, 2024, the Company has closed its previously announced non-brokered private placement (the “Private Placement” ”) for gross proceeds to the Company of $2 million.

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In connection with the Private Placement, the Company is issuing 19,950,000 units (each a “Unit”) at a purchase price of $0.10 per Unit. Each Unit consists of one common share of the Company (each, a “Common Share”) and one warrant to purchase Common Shares (each, a “Warrant”). Each Warrant entitles the holder to subscribe for and purchase one Common Share at a purchase price of $0.20 for a period of three years from the date of issuance. If the closing price for the Common Shares on the TSX Venture Exchange (“TSXV”) is $0.25 or more for five consecutive trading days, the Company shall have the right to accelerate the expiration date of the Warrants, upon written notice to the holder. , until the 30th day after the notification.

According to Executive Chairman Jeffrey Bacha, the funds will be used to research drug candidates driven by the company’s Artificial Intelligence (AI). Bacha said, “We are continuing our activities in our AI collaboration to screen billions of drug candidates against DNA damage response targets. We hope to have an initial output from this effort in the form of suggested molecular structures for validation in our lab at the University of British Columbia at the beginning of the season autumn, which allows us to have preliminary data from the validation of the in vivo model at the end of this year.

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Defects in our natural DNA damage response mechanisms are involved in the formation and growth of approximately three out of every four cancers. The first generation of DDR-inhibitors, called PARP-inhibitors, currently generate approximately $3 billion in annual sales and have provided significant benefits to patients diagnosed with certain types of breast, ovarian and prostate cancer. Rakovina Therapeutics’ goal is to advance one or more next-generation DDR drug candidates into human clinical trials in collaboration with pharmaceutical partners.

In connection with the Private Placement, the Company paid a cash finder’s fee to Hampton Securities Limited in the total of $1,200 and issued 12,000 finder’s warrants (each, a “Finder’s Warrant”). Each Finder Warrant entitles the holder to subscribe and purchase one Common Share at a purchase price of $0.20 for a period of three years from the date of issuance, subject to acceleration on the same terms as Warrants issued in connection with a Private Placement. .

The Private Placement is subject to final acceptance by the TSX-V and all securities issuable in connection with the Private Placement are subject to resale restrictions for a period of four months plus one day from the date of issuance.

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About
Rakovina
Therapeutics
Inc.
Rakovina Therapeutics Inc. focuses on the development of new cancer treatments based on novel DNA damage response technologies. The Company has established a pipeline of novel DNA damage response inhibitors with the goal of advancing one or more drug candidates into human clinical trials and obtaining marketing approval for new cancer therapies from Health Canada, the United States Food and Drug Administration and similar international regulations. agency. More information can be found at www.rakovinatherapeutics.com.

At
TSX-V
already
neither is it
approved
or
did not agree
at
filling
of
this
the press
discharge.
not
TSX-V or its Regulatory Service Provider (as such term is defined in TSX-V’s discretion) accepts no responsibility for the adequacy or accuracy of this release.

News
chapter
Moving forward
claim:
This release includes forward-looking statements about the Company and its respective businesses, which
can
including, however
not
limited
for, the receipt of the final TSX-V agreement, the proposed business plan of the Company and other statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “expects”, “scheduled”, “intends”, “thinks”, “anticipates”, “believes”, “proposes”. ” or variations (including negative variations) of these words and phrases, or stating that certain actions, events, or results “can”, “could”,
“will”,
“can”
or
“will be
taken,
occur
or
become
achieved.
that statement
that is
basically
about the current expectations of the Company’s management. The forward-looking events and conditions discussed in this release may not occur as of any particular date and may vary from time to time.
material as
result
of
known
and risk is unknown
factor
and
uncertainty
affecting the Company, including risks regarding the medical device industry, economic factors, regulatory factors and the need for regulatory approvals, the equity market in general and risks related to growth and competition.

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Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements,
there
can
become
apart
factor
that
cause
prevail,
event,
or
result
for
different
of
anticipated,
approximately
or
intended.
Not
hope
statement
can
become
guaranteed.
Except
as required by
applicable securities laws,
forward-looking statements
say only as from
date is made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
The reader is referred to the Company’s most recent filing on SEDAR+ for more details
discussion
of
entire
applied
risk
factor
and
equal
potential
effect,
copy
of
which
can be accessed through the Company’s profile page at www.sedar.com.

For more information contact: David Hyman, Chief Financial Officer info@rakovinatehrapeutics.com

Investor Relations & Media Ira M. Gostin ir@rakovinatherapeutics.com 775-391-0213

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