Marvel Biosciences updates non-brokered private placement of up to $3M

Marvel Biosciences Corp. (TSXV: MRVL) (OTCQB: MBCOF) announced an update to its non-brokered private placement offering of up to 20,000,000 units at $0.15 per unit, for gross proceeds of up to $3,000,000.

The offering has a minimum of 10,000,000 units, representing gross proceeds of $1,500,000. Each unit consists of one common share and one warrant exercisable at $0.20 per share for one year from the closing date, beginning 61 days after closing. The company may accelerate warrant expiry if the volume-weighted average trading price of its common shares on the TSX Venture Exchange reaches at least $0.25 for five consecutive trading days.

The Calgary-based biosciences company said net proceeds are intended to fund a deposit for phase 1 clinical trials of its lead compound MB-204, as well as general and administrative expenses and working capital.

The first tranche of the offering is expected to close on or about September 30, 2026, following an extension granted by the TSXV from the previous deadline of September 14, 2026. The offering remains subject to all required regulatory approvals.

In connection with the offering, the company may pay finders a cash fee of up to 7% of gross proceeds raised from investors they introduce, along with finder's warrants equal to 7% of units sold through each finder. Finder's warrants are exercisable at $0.20 per share under the same terms as the unit warrants. The company estimates it will issue up to 700,000 common shares from finder's warrant exercises at the minimum offering and up to 1,400,000 at the maximum.

The offering is being made under the listed issuer financing exemption pursuant to National Instrument 45-106 and is available to purchasers in all Canadian provinces and certain foreign jurisdictions. Units sold under this exemption are not subject to a hold period under Canadian securities laws.

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