Algernon Health (CSE:AGN, OTCQB:AGNPF) announced an increase to its previously disclosed non-brokered private placement financing to C$750,000 and the closing of the third tranche of the offering.
The third tranche generated gross proceeds of C$352,500 through the issuance of 5,035,714 units at a price of C$0.07 per unit.
With the completion of the third tranche, total proceeds from the financing reached C$739,500 from the sale of 10,564,286 units.
The first and second tranches of the financing closed on November 14, 2025, and November 28, 2025, respectively.
The company stated that no cash finder’s fees were paid in connection with the third tranche.
According to Algernon, the proceeds from the offering are intended to be used to advance its Alzheimer’s disease program, including the opening of its first US-based Alzheimer’s disease clinic, as well as for general and administrative expenses and working capital purposes.