VANCOUVER, British Columbia, Dec. 23, 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, previously announced on November 6, 2025, to $750,000 and the closing of the third tranche (the "Third Tranche"). Gross proceeds from the Third Tranche totaled CAD $352,500 from the sale of 5,035,714 units (the "Units") at an issue price of CAD $0.07 per Unit. The closing of the Third Tranche brings the financing to a total of CAD $739,500 from the sale of 10,564,286 Units, including the closing of the first and second tranches on November 14, 2025 and November 28, 2025, respectively.
The Company did not pay any cash finder's fees pertaining to the Third Tranche of the Offering.
The Company will use the proceeds of the Offering towards advancing its Alzheimer's Disease ("AD") program including the opening of its first U.S. AD clinic, general and administrative expenses and for working capital purposes.
The securities issued and issuable, described in this and the previous news release on November 6, 2025, will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable Canadian securities legislation.
The ...
