04:25 PM EST, 12/31/2024 (MT Newswires) -- InnoCan Pharma ( INNPF ) at the close of trade Tuesday announced that it has closed a non-brokered private placement offering of more than 3.17 million units at a price of $0.20 per unit for $635,444.

According to the offering, each unit is comprised of one common share of the company and one common share purchase warrant. Each warrant will entitles the holder to one common share for $0.28 for a period of four years from the date of issuance.

The company intends to use the proceeds from the offering for working capital and general corporate purposes.