VANCOUVER, British Columbia, Dec. 31, 2025 (GLOBE NEWSWIRE) -- Algernon Health Inc. (the "Company" or "Algernon") (CSE:AGN) (FRANKFURT: AGW0) (OTCQB:AGNPF), a Canadian healthcare company, announces an increase to its non-brokered private placement financing (the "Offering"), previously announced on November 6, 2025, to $858,000 and the closing of the fourth and final tranche (the "Fourth Tranche"). Gross proceeds from the Fourth Tranche totaled CAD $117,501 from the sale of 1,678,586 units (the "Units") at an issue price of CAD $0.07 per Unit. The closing of the Fourth Tranche brings the financing to a total of CAD $857,001 from the sale of 12,242,872 Units, including the closing of previous tranches on November 14, 2025, November 28, 2025 and December 23, 2025. The Offering is now closed.
Certain insiders of the Company participated in the Fourth Tranche of the Offering in the amount of $32,501. The participation by insiders in the Fourth Tranche of the Offering constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the Units purchased by insiders, nor the consideration for the Units paid by such insiders, exceeded 25% of the Company's market capitalization. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Fourth Tranche of the Offering, which the Company deems reasonable in the circumstances as ...
