Rakovina Therapeutics secures up to $1.5M in new financing

Rakovina Therapeutics Inc. (TSX-V: RKV; FSE: 7JO0) announced new financing arrangements totaling up to $1.5 million, leadership changes, and debt restructuring measures. The Vancouver-based biopharmaceutical company disclosed these developments in a corporate update.

The financing includes a proposed $1 million convertible debenture private placement and a concurrent $500,000 common share offering. The convertible debenture would carry a 12% annual interest rate, mature in January 2029, and convert at $0.20 per common share. The common share placement would price shares at $0.12 each.

Rakovina extended the maturity date of its existing $1.45 million convertible debentures from January 28, 2026 to March 11, 2026. Holders representing at least 66⅔% of the outstanding principal approved the extension. The company reached an agreement in principle with one holder to convert $1 million of outstanding principal plus $50,000 in accrued interest into new debentures.

Kim Oishi was appointed chief executive officer and will join the board of directors, subject to exchange approval. Oishi brings experience in public company leadership and capital markets strategy. Jeffrey Bacha will continue as board chair while maintaining his role as CEO of Edison Oncology Holding Corp., which filed for a U.S. initial public offering.

Frank Holler joined the board as an independent director. Holler co-founded ID Biomedical Corp., which GlaxoSmithKline acquired in 2005, and served as chair of Theratechnologies Inc. before its $254 million acquisition by CB Biotech LLC in September 2025.

Dr. Dennis Brown stepped down from the board but will continue as chair of the scientific advisory committee. Al DeLucrezia also left the board but remains as an advisor.

All proposed transactions require regulatory and TSX Venture Exchange approvals. The company stated proceeds would support near-term working capital and corporate activities.

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