Fennec Pharmaceuticals Announces Closing of Private Offering of Common Shares in Canada

RESEARCH TRIANGLE PARK, N.C., Nov. 18, 2025 (GLOBE NEWSWIRE) -- Fennec Pharmaceuticals Inc. (NASDAQ:FENC) (TSX:FRX) (“Fennec” or the “Company”), a specialty pharmaceutical company, today announced the closing of its non-brokered offering of its common shares in Canada, at a price of US$7.50 per share, with certain of its existing institutional shareholders, for aggregate gross proceeds of US$5,025,000.

The offering was made to prospective purchasers resident in any province in Canada (except Quebec) pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions and the Company has registered the common shares issued in the offering under the Securities Act of 1933, as amended, pursuant to a prospectus supplement and accompanying prospectus. As the offering was completed pursuant to the listed issuer financing exemption, the common shares issued pursuant to the offering are not subject to a hold period pursuant to applicable Canadian securities laws.

There is an offering document related to the offering that can be accessed under the Company’s profile at www.sedarplus.com and at www.fennecpharma.com. Prospective investors in the Canadian offering should read this offering document before making an investment decision.

The common shares in the offering were offered and sold solely in Canada. This press release shall not constitute an offer to sell or the solicitation of an offer to buy common shares, nor shall there be any sale of common shares, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Fennec is relying upon the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as Nasdaq.

About Fennec Pharmaceuticals

Fennec Pharmaceuticals Inc. is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of PEDMARK to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK received FDA approval in September 2022 and European Commission approval in June 2023 and United Kingdom (U.K.) approval in October 2023 under the brand name PEDMARQSI.