Vancouver, British Columbia--(Newsfile Corp. - September 30, 2019) - InnoCan Pharma Corporation (CSE: INNO) is one of the latest new listings on the Canadian Securities Exchange, followings its initial public offering. The company raised gross proceeds of $1.1 million from the sale of 6,111,112 units priced at $0.18 per unit. Each unit consisted of 1 share and one-half a warrant with each full warrant exercisable at $0.30 for 24 months, subject to an acceleration clause. Leede Jones Gable acted as agent for the offering.
For more information, please view the InvestmentPitch Media "video" which provides additional information on the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "InnoCan" in the search box.
Cannot view this video? Visit:
The company is a specialty pharmaceutical company, developing products that harness the unique properties of Cannabinoids combined with smart delivery formulations.
Iris Bincovich, CEO, stated: "We are delighted to begin trading on the CSE, the world's preeminent public exchange for innovative CBD based product companies. InnoCan has diligently and methodically developed a unique portfolio of CBD products that we expect to bring to various markets in the near term."
The company's business can be described as three distinct operating segments relating to the incorporation in products of CBD in their formulation: (i) research, development, marketing, distribution and sales of InnoCan-branded OTC pharmaceutical products; (ii) research and development of non-pharmaceutical products for third parties in exchange for fees and/or royalties; and (iii) research and development of hydrogels containing liposomes intended for licensing or sale to third party pharmaceutical corporations for manufacturing, distribution and sales.
InnoCan Israel has begun the development of a number of products for the relief of psoriasis symptoms as well as the treatment of muscle pain and rheumatic pain. The company anticipates launching its CBD integrated pharmaceuticals into the U.S. market by the first quarter of 2020.
For investor relations, please contact Andreas Curkovic of Proconsul Capital, who can be reached at 416-577-9927.
About InvestmentPitch Media
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community.
The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors. For more information please watch this video.
Barry Morgan, CFO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48316