Algernon Health Inc. announced the closing of the first tranche of its non-brokered private placement, raising CAD $177,000 from the sale of 2,528,752 units at CAD $0.07 per unit. Insiders participated in the offering, with proceeds to be used for advancing its Alzheimer’s Disease program and opening a U.S. clinic. Additional tranches are expected to close by December 1, 2025. The securities issued will be subject to a statutory hold period of four months plus a day. The company did not pay cash finder’s fees, and the securities are not registered under the U.S. Securities Act. For more information, contact CEO Christopher J. Moreau.

Read more at GlobeNewswire: Algernon Closes First Tranche of its Recently Announced