On January 31, 2025 Defence Therapeutics Inc. ("Defence" or the "Company"), (CSE: DTC, OTCQB: DTCFF, FSE: DTC) a Canadian biopharmaceutical company developing radiopharmaceuticals and ADC products using its proprietary platform and drug delivery technologies in addition to novel immune-oncology vaccines, reported the closing of the 2nd tranche of its previously announced non-brokered private placement (the "Offering") of units of the Company (the "Units") at a price of $0.60 per Unit for aggregate gross proceeds of $3,915,000 (the "Closing") (Press release, Defence Therapeutics, JAN 31, 2025, View Source;utm_medium=rss&utm_campaign=defence-closes-second-tranche-of-fully-subscribed-financing-totaling-4-2-million [SID1234650052]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Each Unit consists of one common share in the capital of the Company (each, a "Share") and one common share purchase warrant (each whole, a "Warrant"). Each Warrant is exercisable to acquire one additional Share at an exercise price of $0.75 per Share for a period of 24 months from the date of the Closing (the "Warrant Expiry Date").

In connection with the Closing, the Company paid a cash finder’s fees consisting of: (i) a cash fee equal to $217,680 and (ii) issued a total of 372,000 finder’s warrants (the "Finder’s Warrants") to certain qualified arm’s length finder. Each Finder’s Warrant is exercisable into one Share at an exercise price of $0.75 per Share on or before the Warrant Expiry Date. PowerOne Capital Markets Limited acted as a finder in connection with a portion of the Offering.

The Company intends to use the net proceeds of the Offering to advance its preclinical and clinical programs and for general working capital. All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day from their date of issue in accordance with applicable securities legislation.

The Company has granted 250,000 incentive stock options to two board members (the "Directors’ Options") and 100,000 incentive stock option to a consultant (the "Consultant’s Options"), in accordance with the terms and conditions of Defence’s Omnibus Incentive Plan. The stock options granted are vested immediately and exercisable at a price of $1.02 per common share of the Company, of which the Director’s Options are for a period of ten years from the grant date and the Consultant’s Options are for a period of three years.