09:51 AM EST, 03/05/2025 (MT Newswires) -- Sernova Biotherapeutics (SVA.TO), a regenerative medicine company trading near 52-week lows, on Wednesday announced a $1 million unsecured convertible debenture financing with Dr. Steven Sangha, a Sernova ( SEOVF ) shareholder and board member.

The debenture is repayable on March 4, 2027, unless earlier converted or redeemed, and carries a 15% interest rate. The company also issued 5 million non-transferable share purchase warrants, each warrant being exercisable into one common share at $0.20 per share up to March 4, 2028. The debenture and warrants are subject to a four-month hold period under securities regulations.

The company said proceeds will be used to fund working capital.