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Onco-Innovations Limited Announces Closing of IPO



Onco-Innovations Limited

Shares Listed on CSE

 

Vancouver, British ColumbiaTheNewswire - November 27, 2024 – Onco-Innovations Limited (CSE: ONCO) ("Onco" or the "Company") is pleased to announce that its common shares (the “Common Shares”) were listed for trading on the Canadian Securities Exchange (the “CSE”) on November 26, 2024 under the symbol “ONCO”, and that it has completed an offering (the “Offering”) of 5,000,000 units of the Company (the “Units”) at a price of $0.50 per Unit (the “Offering Price”), for total gross proceeds to the Company of $2,500,000.  Each Unit consisted of one Common Share and one-half of one Common Share purchase warrant (a “Warrant”), with each whole Warrant entitling the holder to purchase one Common Share at an exercise price of $0.60 for a period of three years.

 

The Offering was completed pursuant to a final prospectus dated November 25, 2024, filed with the British Columbia Securities Commission, Alberta Securities Commission, Manitoba Securities Commission and Ontario Securities Commission, respectively (the “Final Prospectus”).

 

In connection with the Offering, the Company paid a finder’s fee of $120,000 cash commission, representing 8% of the proceeds raised from subscribers introduced by the finder, and issued 240,000 finder warrants (the “Finder’s Warrants”).  Each Finder Warrant entitles the holder to purchase one Share at an exercise price of $0.60 for a period of three years following the date of issuance.

 

About Onco-Innovations Limited

 

Onco-Innovations is a Canadian-based company dedicated to cancer research and treatment, specializing in oncology. Onco’s mission is to prevent and cure cancer through pioneering research and innovative solutions. The company has secured an exclusive worldwide license to patented groundbreaking technology that targets solid tumours, setting new standards in cancer treatment. Onco’s commitment to excellence and innovation drives it to develop advanced therapies that improve patient outcomes and offer hope in the fight against cancer.

 

ON BEHALF OF ONCO-INNOVATIONS LIMITED,

 

Thomas O’Shaughnessy

Chief Executive Officer

 

For more information, please contact:

 

Thomas O’Shaughnessy

Chief Executive Officer

 

Tel: + 1 888 261 8055

investors@oncoinnovations.com

 

The CSE and Information Service Provider have not reviewed and do not accept responsibility for the accuracy or adequacy of this release.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, including, without limitation, statements regarding the commencement of trading of the Company’s Shares on the CSE and the Company’s future goals and objectives. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all. Accordingly, readers should not place undue reliance on any such forward-looking information.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.