Algernon Health (CSE:AGN, OTCQB:AGNPF) announced that it has increased the size of its previously announced non-brokered private placement financing to $858,000 and completed the fourth and final tranche of the offering.
The Vancouver-based healthcare company said gross proceeds from the final tranche totaled C$117,501, raised through the sale of 1,678,586 units at C$0.07 per unit.
With the closing of the final tranche, the financing generated total proceeds of C$857,001 from the sale of 12,242,872 units across four tranches, which closed on November 14, November 28, December 23, and December 31, 2025. The offering is now closed.
Algernon said certain company insiders participated in the final tranche for an aggregate amount of C$32,501.
No cash finder’s fees were paid in connection with the final tranche.
The company intends to use the proceeds from the financing to advance its Alzheimer’s disease program, including the opening of its first US Alzheimer’s disease clinic, as well as for general and administrative expenses and working capital.