06:57 AM EDT, 07/17/2025 (MT Newswires) -- Avicanna ( AVCNF ) late on Wednesday said it has closed a non-brokered private placement of 4 million units at $0.25 apiece, raising $1 million.

Each unit is composed of one Avicanna ( AVCNF ) common share and one-half of one common share purchase warrant entitling the holder to acquire one common share at an exercise price of $0.30 apiece until July 16, 2028.

Proceeds from the offering will be used for general working capital purposes, general and administrative expenses, expenditures related to production and manufacturing, and research and clinical development.