InnoCan Pharma Corporation (CSE:INNO) (FSE:IP4) (OTCMKTS:INNPF) announced Thursday that since December 1, 2020, it has received proceeds of about C$1.8M from the exercise of 7.6 million previously issued common share purchase warrants and broker warrants.
"The exercise of the warrants indicates that investors are confident in InnoCan Pharma,” said CEO Iris Bincovich in a statement.
Bincovich added: "Following our important milestones since our IPO in September 2019, and alongside the proceeds received, we have the financial strength allowing us to bring our Derma product line to the market, and to accelerate our CLX and LPT proprietary programs with the Tel Avi and the Hebrew University."
READ: InnoCan Pharma reveals successful production of CBD-loaded liposomes under aseptic conditions
In addition, following the unexpected rise in sales on Shir Beauty's e-commerce platform, www.shirbeauty.com, InnoCan Pharma announced the full return of the website -- after the restock of products.
"We were overwhelmed seeing the amount on orders on our website in the first couple of days," said Nir Avram, CTO of InnoCan Pharma. "SHIR dermal cosmetic is based on quality and proven science. Clinical studies demonstrate efficacy, encouraging us to turn SHIR into worldwide known brand."
InnoCan, through its wholly owned Israeli subsidiary InnoCan Pharma Ltd, is a pharmaceutical tech company that focuses on the development of several drug delivery platforms combining cannabidiol, or CBD.
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