Rakovina Therapeutics Announces Intention to Amend Debentures and Warrants

VANCOUVER, British Columbia, June 30, 2025 (GLOBE NEWSWIRE) -- Rakovina Therapeutics Inc. (TSXV: RKV) (the “Company”) announces that it will apply to the TSX Venture Exchange (the “Exchange”) to amend the terms of certain outstanding warrants and convertible debentures of the Company, as further described herein.

Convertible Debenture Amendments

The Company intends to file an application with the Exchange to amend the terms of its 12.0% unsecured convertible debentures with an outstanding aggregate principal amount of $1,454,000.00 (the “Convertible Debentures”) issued pursuant to the Company’s non-brokered private placement of Convertible Debenture units closed on May 29, 2023 (the “Debenture Unit Private Placement”). The Convertible Debentures are governed by an indenture dated May 29, 2023 (the “Indenture”) between the Company and Odyssey Trust Company as the debenture trustee (the “Debenture Trustee”). For further information relating to the Convertible Debentures and the Debenture Unit Private Placement, please refer the Company’s press release dated May 29, 2023.

The amendments, if approved by the requisite majority of holders of the Convertible Debentures (the “Debentureholders”), will result in the following changes to the terms thereof (the “Debenture Amendments”):

1. the maturity of the Convertible Debentures will be extended from November 29, 2025 to June 6, 2028 (the “Maturity Date”);
2. the conversion price will be reduced from $2.00 per common share to $1.00 per common share;
3. no redemption premium will be payable upon a redemption by the Company; and
4. any interest that accrues on the Convertible Debentures following the Debenture Amendments will be due and payable on the Maturity Date.

The Debenture Amendments remain subject to the approval of the Exchange and the holders of at least 66 2/3% of the outstanding principal of the Convertible Debentures. In accordance with the terms of the Indenture, the Company intends to obtain the requisite approval of the Debentureholders by way of a written consent. Upon and subject to receipt of the Exchange’s approval, the Company intends to execute a supplemental indenture with the Debenture Trustee amending the terms of the Indenture to reflect the Debenture Amendments.