07:14 AM EST, 02/23/2026 (MT Newswires) -- Rakovina Therapeutics ( RKVTF ) over the weekend upsized its previously announced financing to about $2 million from $1.5 million.

The company anticipates key terms of the convertible debenture to include a maturity date of Jan. 28, 2029, a conversion price of $0.20 per common share, and an interest rate of 12% per annum payable semi-annually in cash. Each warrant would be exercisable at $0.20 apiece until Jan. 28, 2029, subject to customary adjustments.

Concurrently with the debenture private placement, the company proposes to offer up to 8.3-million common shares at $0.12 per share for additional proceeds of up to about $1.0 million by way of a non-brokered private placement.

Proceeds of the private placements will be used to provide near-term working capital to support ongoing corporate activities and strategic initiatives while it continues to evaluate longer-term financing alternatives.

The company's shares last traded Feb. 19, closing at $0.15 on the TSX Venture Exchange.