VANCOUVER, British Columbia, June 09, 2026 (GLOBE NEWSWIRE) -- Alzai Health Corp. ("Alzai" or the "Corporation") is pleased to announce that it has successfully completed its previously announced initial public offering (the "Offering") of 10,125,000 units (the "Offered Units") of the Corporation, including 125,000 Offered Units sold pursuant to the exercise of the Agent's (as defined below) over-allotment option, at a price of $0.40 per Offered Unit (the "Offering Price"), for aggregate gross proceeds of $4,050,000 (the "Offering").
Each Offered Unit consisted of one common share of the Corporation ("Common Shares") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase, subject to acceleration and adjustment in certain circumstances, one Common Share at an exercise price of $0.60 until the earlier of (i) June 9, 2028, and (ii) the date specified in any Acceleration Notice (as defined below) delivered in accordance with the terms of the warrant indenture dated June 9, 2026, between the Corporation and Odyssey Trust Company, as warrant agent.
If, at any time, the volume-weighted average trading price of the Common Shares is equal to or greater than $0.90 for any 10 consecutive trading day period, the Corporation may provide written notice to the registered holders of Warrants (an "Acceleration Notice") that the expiry time of the Warrants shall be accelerated to the date which is 30 days from the date of such Acceleration Notice, subject to approval from the TSX Venture Exchange (the "TSXV").
The Offering was completed pursuant to a long form prospectus dated April 21, 2026 (the "Prospectus"), filed with the Alberta Securities Commission, British Columbia Securities Commission and Ontario Securities Commission.
The Corporation's common shares were listed and halted on June 8, 2026 and will resume trading today on the TSXV under the symbol "ALZI". Following closing of the Offering, the Corporation has 64,147,682 Common Shares issued and outstanding, with the directors, officers and certain shareholders of the Corporation holding an aggregate of 23,489,722 Common Shares which are subject to escrow restrictions.
Haywood Securities Inc. (the "Agent") acted as the exclusive agent for the Offering, on a best efforts basis, pursuant to an agency agreement between ...
