PreveCeutical Medical Inc. Receives Extension for Private Placement
Vancouver, BC, March 10, 2025 – PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) (the “Company” or “PreveCeutical”), a biopharmaceutical company focused on the research and development of cannabinoid therapeutics, has announced that it has received an extension from the Canadian Securities Exchange (“CSE”) to close its non-brokered private placement of up to 10,000,000 units of the Company (the “Units”).
Extension Details
The Private Placement, which was originally scheduled to close on or about March 31, 2025, has been extended to close on or about April 24, 2025. The Units will be sold at a price of CDN$0.03c per Unit, with an aggregate gross proceeds target of CDN$300,000. The extension is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, acceptance of the CSE.
Implications for PreveCeutical
This extension provides PreveCeutical with additional time to secure investors for the Private Placement. The Company will use the net proceeds from the offering for working capital and general corporate purposes, including the advancement of its research and development programs. With the cannabinoid market continuing to grow, PreveCeutical’s focus on therapeutics could prove to be a valuable asset in the industry.
The extension also indicates that there may be ongoing investor interest in PreveCeutical, as the Company was unable to meet the initial deadline for closing the Private Placement. This could be a positive sign for shareholders, as it suggests that there is demand for the Company’s securities.
Implications for the World
The cannabinoid market is projected to grow significantly in the coming years, with a compound annual growth rate of 21.2% between 2020 and 2027, according to a report by Grand View Research. PreveCeutical’s focus on therapeutic applications of cannabinoids could contribute to this growth, as the demand for cannabinoid-based medicines continues to increase.
Furthermore, the extension of PreveCeutical’s Private Placement could signal a positive trend for the biopharmaceutical industry as a whole. With many companies in the sector seeking funding to advance their research and development efforts, extensions like this one may become more commonplace. This could provide a boost to the industry, as it allows companies to continue their work despite any financing challenges.
Conclusion
PreveCeutical Medical Inc.’s receipt of an extension for its Private Placement is a positive sign for the Company and the cannabinoid industry as a whole. With ongoing investor interest and a growing market, PreveCeutical is well-positioned to advance its research and development efforts. The extension also highlights the importance of financing in the biopharmaceutical sector, and could lead to more companies seeking similar extensions in the future.
- PreveCeutical Medical Inc. receives extension for Private Placement
- Extension provides additional time to secure investors
- Net proceeds to be used for working capital and R&D
- Cannabinoid market projected to grow significantly
- Extension could signal positive trend for biopharmaceutical industry
