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Highlights

  • Issued 150,000 units for gross proceeds of $18,750 in second tranche
  • Finder’s fees included $1,312.50 in cash and 10,500 finder’s warrants
  • Initial report of fees to Abinvest and Abingdon was incorrect, no fees were paid to them

Marvel Biosciences Corp. (TSXV: MRVL), along with its wholly owned subsidiary Marvel Biotechnology Inc., has closed the second tranche of its previously announced non-brokered private placement. This tranche involved the issuance of 150,000 units at a price of $0.125 per unit, resulting in gross proceeds of $18,750. Each unit consists of one common share and one warrant. The warrants are exercisable at $0.175 per share for a two-year period.

In connection with the second tranche, the company paid a total of $1,312.50 in cash as a commission and issued 10,500 finder’s warrants to Acumen Capital Finance Partners Limited, which acted as the sole finder. These finder’s warrants are exercisable under the same conditions as the investor warrants.

The company issued a correction regarding its March 28, 2025 press release, clarifying that no finder’s fees or finder’s warrants were paid to Abinvest Corporation or Abingdon Capital Corp., as had been previously and erroneously reported.

The private placement offering is being made to accredited investors or others qualifying under applicable exemptions from prospectus requirements. Importantly, the offering does not involve the filing of a prospectus or offering memorandum.

All securities issued in the offering are subject to a four-month plus one day hold period in Canada, along with any other applicable resale restrictions.

Proceeds from the offering are expected to be allocated toward drug formulation and toxicology studies, as well as general working capital requirements. The offering remains subject to final acceptance by the TSX Venture Exchange.

Additionally, Marvel Biosciences has announced the termination of a separate non-brokered private placement announced on January 7, 2025, which was intended to be conducted under the listed issuer financing exemption.