Lobe Sciences Ltd. Announces Closing of Upsize to Non-Brokered Private Placement
CSE: LOBE | OTCQB: LOBEF
Overview
Lobe Sciences Ltd. announced the closing of the second tranche of its previously announced non-brokered private placement of common shares in the capital of the company, priced at $0.085 per Common Share, according to the company.
The company closed the first tranche of the private placement on August 19, 2026, through the issuance of 24,705,880 Common Shares for gross proceeds of $2,100,000, according to the company. As a result of further demand, the company closed an additional tranche of the private placement, the Second Tranche, comprised of 705,882 Shares for gross proceeds of $60,000. Following closing of the Second Tranche, the company has issued an aggregate of 25,411,762 Shares for gross proceeds of $2,160,000 pursuant to the private placement, according to the company.
Key Highlights
- Second Tranche: 705,882 Common Shares issued at $0.085 per share for gross proceeds of $60,000.
- First Tranche closed August 19, 2026: 24,705,880 Common Shares issued for gross proceeds of $2,100,000.
- Aggregate private placement total: 25,411,762 Common Shares issued for gross proceeds of $2,160,000.
- All securities issued in connection with the Second Tranche are subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada, according to the company.
- None of the securities sold under the private placement have been or will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
Strategic/Operational Context
The company intends to use the proceeds of the private placement for working capital and general corporate purposes, and to advance its S-100 drug candidate for the treatment of sickle cell disease, according to the company. A portion of the proceeds will be directed to its subsidiary, Applied Lipid Technologies, Inc., to support development of the S-100 program toward human clinical trials. The company states it has procured the active pharmaceutical ingredient required for these studies, enabling the program to move forward.
Resources and Financials
- Offering price: $0.085 per Common Share
- First Tranche gross proceeds: $2,100,000 (24,705,880 Shares)
- Second Tranche gross proceeds: $60,000 (705,882 Shares)
- Aggregate gross proceeds from the private placement: $2,160,000 (25,411,762 Shares)
What to Watch Next
- Use of a portion of proceeds by subsidiary Applied Lipid Technologies, Inc. to support development of the S-100 program toward human clinical trials, as stated by the company.
About Lobe Sciences Ltd. (CSE:LOBE)(OTCQB:LOBEF)(Frankfurt:LOBE.F)
Lobe Sciences Ltd. is a biopharmaceutical company advancing programs in diseases with unmet medical needs. The Company is pursuing strategic development through its subsidiaries, including a majority interest in Cynaptec Pharmaceuticals, Inc. and wholly owned subsidiary Applied Lipid Technologies Inc. (Formerly Altemia, Inc.).
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