Vancouver, British Columbia--(Newsfile Corp. - October 10, 2025) - PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) (the "Company" or "PreveCeutical"), is pleased to announce that all resolutions presented at the Company's annual general and special meeting (the "Meeting") held on Friday, October 10, 2025, including the following:
the election of Stephen Van Deventer, Makarand Jawadekar, Kathleen Rokita and C. Evan Ballantyne as directors of the Company;
the ratification of the appointment of Davidson & Company LLP, Chartered Professional Accountants, as the auditors of PreveCeutical for the financial year ending December 31, 2024 and 2025;
a plan of arrangement under the provisions of Division 5 of Part 9 of the Business Corporations Act (British Columbia), pursuant to which the Company will distribute up to 12,000,000 common shares of BioGene Therapeutics Inc. ("BioGene") to the PreveCeutical Shareholders; (the "Arrangement and Distribution"); and
the adoption of the PreveCeutical's Omnibus Equity Incentive Plan;
were approved at the Meeting.
The Company also announces that, further to its news releases dated August 5, 2025, and September 5, 2025, it is increasing the size of its private placement financing. The Company previously disclosed that it would issue up to 25,000,000 units (each, a "Unit") at a price of $0.04 per Unit for gross proceeds of $1,000,000. The Company today announces that it has increased the number of Units to be issued, such that it may issue up to 30,000,000 Units at a price of $0.04 per Unit for gross proceeds of up to $1,200,000 (the "Offering"). On September 5, 2025, the Company closed a first tranche of the Offering, which consisted of the issuance of 16,162,500 Units at a price of $0.04 per Unit for gross proceeds of $646,500.
Each Unit is comprised of one (1) common share (each, a "Share") in the capital of the Company and one-half (1/2) of one Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase an additional Share (each, a "Warrant Share") at an exercise price of $0.06 per Warrant Share for a period of 24 months from the closing of the Offering, subject to an acceleration right, whereby the expiry date of the Warrants may be accelerated if the daily closing price of the Shares equals or exceeds $0.18 or greater on the Canadian Securities Exchange ("CSE") (or such other recognized securities exchange on which the Shares may then trade) for a minimum of ten consecutive trading days, in which event the Company may accelerate the expiry of the Warrants by giving notice via news release and, in such case, all of the then unexercised Warrants will expire on the 30th day after the date on which the news release is disseminated (the "Acceleration Right").
All securities to be issued pursuant to the Offering are subject to a hold period expiring four months and one day after closing of the Offering, in accordance with applicable securities laws.
The securities issued under the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About PreveCeutical
PreveCeutical is a health sciences company that develops innovative options for preventive and curative therapies utilizing organic and nature identical products. PreveCeutical aims to be a leader in preventive health sciences and currently has five research and development programs, including: dual gene therapy for curative and prevention therapies for diabetes and obesity; the Sol-gel Program; Nature Identical peptides for treatment of various ailments; nonaddictive analgesic peptides as a replacement to the highly addictive analgesics such as morphine, fentanyl and oxycodone; and a therapeutic product for treating athletes who suffer from concussions (mild traumatic brain injury). For more information about PreveCeutical, please visit our website www.PreveCeutical.com or follow us on Twitter and Facebook.
On behalf of the Board of Directors of PreveCeutical
Stephen Van Deventer, Chairman and Chief Executive Officer
For further information, please contact:
Stephen Van Deventer: +1 604 306 9669
Or Investor Relations
ir@preveceutical.com
Neither the CSE nor any Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the expectations of management regarding the use of proceeds of the Offering and the closing of a subsequent tranche of the Offering. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including that the proceeds of the Offering may not be used as stated in this news release, that the Company may not be able to close a subsequent tranche of the Offering and those additional risks set out in the Company's public documents filed on SEDAR+ at www.sedarplus.ca. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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SOURCE: PreveCeutical Medical Inc.
