On January 31, 2023 Biocure Technology Inc. ("CURE" or the "Company") (CSE:CURE) BiocurePharm, Korea ("BPK"), a subsidiary of Biocure Technology Inc. ("CURE") reported that it has closed its non-brokered private placement through its Korean Subsidiary BiocurePharm, Korea ("BPK"), BPK has issued 55,000 shares at $4.32 CAD per share for gross proceeds of 220,000,000 KRW equivalent to $237,600 CAD (Press release, Biocure Technology, JAN 31, 2023, View Source [SID1234628740]). All dollar values are based on the published Exchange Rate of CAD 0.001080 / KRW1 on January 27, 2023, Bank of Canada. After the issuance of new BPK shares, CURE holds now 92.10 % interest in BPK.

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The net proceeds from the non-brokered private placement are intended to be used for general working capital.