Innocan Pharma Closes Additional Insider Debenture

HERZLIYA-CALGARY – Innocan Pharma Corp. announced that it had completed the closing of an additional secured debenture with its largest shareholder, Tamar Innovest Ltd., for gross proceeds of $200,000.

The financing follows the company’s earlier $450,000 debenture with the same investor, which closed on March 11. Both instruments carry identical terms: a 10% annual interest rate, with maturity set at the earlier of 12 months from issuance or the completion of Innocan’s proposed public offering in the United States. The new debenture is backed by the general security agreement the parties signed in March 2025 under Alberta law.

Proceeds will support working capital and general corporate purposes as the company advances its plans for a U.S. listing. Innocan has filed a registration statement on Form F-1 with the Securities and Exchange Commission for that offering.

Tamar Innovest, which beneficially owns and controls 765,020 common shares [roughly 17% of the company’s outstanding stock] is managed by Innocan director Ralph Bossino. The participation qualifies as a related-party transaction under Canadian securities rules, but the company relied on exemptions from formal valuation and minority shareholder approval because the amount represents less than 25% of Innocan’s market capitalization. Independent directors approved the deal.

Innocan develops a platform designed to deliver synthetic cannabidiol in a controlled, prolonged-release format aimed at non-opioid chronic pain management. The company also maintains a wellness division through its majority-owned subsidiary BI Sky Global Ltd., which sells self-care and beauty products online.

For a company operating at the intersection of pharmaceutical innovation and the Cannabis sector, this type of repeat insider financing provides a straightforward bridge while larger capital-market steps remain in process. It avoids immediate equity dilution and signals continued backing from a major holder at a time when many developers in the space are balancing research timelines against cash requirements.