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VANCOUVER, British Columbia, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Rakovina Therapeutics Inc. (TSX-V: RKV, the " Company ”, " Rakovina ”, or " Rakovina Therapeutics ”) a biopharmaceutical company committed to advancing new cancer therapies based on novel DNA-damage response technologies is pleased to announce the closing of a $3.0 million private placement. The private placement consists of 50,000,000 units (the " Units ”) at a price of $0.06 per Unit. Each Unit consists of one common share of the Company (each, a " Common Share ”) and one Common Share purchase warrant (each, a " Warrant ”). Each Warrant entitles the holder thereof to subscribe for and purchase one Common Share of the Company for a period of 24 months from the date of issue at a price of $0.10 per Common Share. Rakovina retains the right to accelerate the Warrant exercise period if, upon written notice to the holder, the 20-day volume-weighted average price of its Common Shares exceeds $0.30. In connection with the Private Placement, the Company paid cash finder's fees to Canaccord Genuity Corp., Ventum Financial Corp., Haywood Securities Inc., Research Capital Corporation, Hampton Securities Limited, Ewing Morris & Co. Investment Partners Ltd. and Leede Financial Inc. (each a " Finder ”, and collectively, the " Finders ”) in the aggregate amount of $180,841 and issued a total of 3,021,872 non-transferable finder's warrants (each, a " Finder's Warrant ') to the Finders, in accordance with the policies of the TSX Venture Exchange (the " TSXV ”). Each Finder's Warrant entitles the holder thereof to subscribe for and purchase one Common share of the Company for a period of 24 months from the date of issue at a price of $0.10 per Common Share, subject to acceleration on the same terms as the Warrants issued in connection with the private placement. The private placement is subject to the final acceptance of the TSXV and all securities issuable in connection with the private placement are subject to a hold period of four months plus one day from the date of issuance, in accordance with applicable securities laws. The proceeds of the private placement will be used to accelerate both discovery and development of the Company's proprietary drug candidates, shortlisted from the Deep Docking and Variational AI platforms. "This overwhelming response from our investors underscores the strength of our science, the extraordinary talent and dedication of our team and the transformative potential of our therapies,” said Jeffrey Bacha, Executive Chairman of Rakovina Therapeutics. "We are deeply grateful for the trust placed in us and remain resolute in our mission to utilize leading AI technologies to develop innovative solutions for cancer care.” The Company extends its heartfelt thanks to its investors, partners, and team for their unwavering support as Rakovina continues its work to bring new hope to patients and families affected by cancer. Rakovina is pleased to announce its engagement of Fairfax Partners Inc. as its Investor Relations (IR) partner. With extensive expertise in investor engagement strategies, Fairfax will implement a comprehensive six-month IR program designed to enhance Rakovina's market presence and expand its investor base. The program, which includes an option to renew for an additional six months, focuses on complementing traditional IR efforts with targeted online marketing campaigns, activation of a robust social media influencer network, and collaboration with external consultants and global wealth management channels. These initiatives will support Rakovina's strategic plan for 2025 by institutionalizing its investor base and strengthening its distribution capabilities. Under the agreement, Fairfax will receive a monthly fee of $5,000 plus GST, a one-time setup fee of $15,000 plus GST, and a marketing budget of $120,000 plus GST, disbursed as follows: $80,000 upon signing and $40,000 two months later. Services provided by Fairfax include inbound and outbound phone communications, website and social media management, marketing material preparation, news release support, and roadshow assistance, ensuring Rakovina's IR efforts align with market expectations. Fairfax Partners Inc., located at 306-1238 Seymour Street, Vancouver, BC, confirms that neither its directors nor officers hold any securities of Rakovina. For inquiries, please contact [email protected] . "We are thrilled to partner with the seasoned team at Fairfax Partners to expand our investor base and increase awareness of Rakovina Therapeutics' vision. Fairfax's creative and forward-thinking approach to investor relations will be a critical asset as we enter a pivotal year. By harnessing their extensive network and digital expertise, we aim to significantly enhance our market presence and deliver lasting value to our shareholders,” said Mr. Bacha. About Rakovina Therapeutics Inc. Rakovina Therapeutics Inc. is dedicated to developing innovative cancer therapies targeting the DNA-damage response. The company has established a development pipeline of novel DNA-damage response inhibitors by leveraging Artificial Intelligence (AI) to accelerate the identification and optimization of drug candidates. Rakovina Therapeutics aims to advance one or more of these candidates into human clinical trials in collaboration with pharmaceutical partners and secure marketing approvals from Health Canada, the U.S. Food and Drug Administration, and other international regulatory agencies. Further information may be found at www.rakovinatherapeutics.com . The TSXV has neither approved nor disapproved the content of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Notice Regarding Forward-Looking Statements: This release includes forward-looking statements regarding the Company and its respective business, which may include, but is not limited to, statements with respect to the terms of the private placement, the closing of the private placement, the receipt of final TSXV approval, the proposed business plan of the Company; the Company's commitment to advancing new cancer therapies; the ability of the Company to extract value from its AI collaborations; the Company's ability to execute on its business plans while maintaining high standards of research; the ability of Pharma Inventor Inc. to accurately provide medicinal chemistry support; the projected timeline and effectiveness of the Company's strategy to utilize the Deep Docking AI platform; and the Company's ability to generate shareholder value. Often, but not always, forward-looking statements can be identified by the use of words such as "plans”, "is expected”, "expects”, "scheduled”, "intends”, "contemplates”, "anticipates”, "believes”, "proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events, or results "may”, "could”, "would”, "might” or "will” be taken, occur or be achieved. Such statements are based on the current expectations of the management of the Company. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including risks regarding the medical device industry, economic factors, regulatory factors, the equity markets generally and risks associated with growth and competition. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. The reader is referred to the Company's most recent filings on SEDAR for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at www.sedar.com. For Further Information Contact: David Hyman, Chief Financial Officer [email protected] Invest Relations &Media Michelle Seltenrich [email protected] 778-773-5432
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1 2 Bhubaneswar: Amidst the supply disruption of potatoes to Odisha from West Bengal, the price of this kitchen essential increased from Rs 33 per kg to Rs 45-50 per kg in retail markets over the last two days. The shortage of potatoes in the city markets was apparent as many shops remained closed and little stock was available on Saturday. "On Thursday, potatoes were selling at Rs 33 per kg as I bought 3kg for Rs 100, but today it is selling at Rs 50 per kg. Potato is an essential item for every kitchen and with small kids around, potato is a must. But if the price goes up like this, we must stop consuming potatoes. The govt must intervene and ensure a smooth supply at an affordable price for consumers," said Rashmita Biswal, a homemaker. Potato supply from West Bengal was stopped on Wednesday night, causing an artificial shortage in the markets of Odisha. West Bengal chief minister Mamata Banerjee ordered restrictions on the supply of potatoes to other states following a rise in prices in the source state until the fresh harvest of the kitchen essential hits the market and prices stabilize in the retail markets. In West Bengal, potatoes are selling between Rs 32 to Rs 40 per kg in retail markets, sources said. "Since the supply of potatoes to Odisha has been stopped, the wholesale price has also gone up significantly. In the last few days, the wholesale price for one quintal increased from Rs 2,500 to Rs 3,700. The situation may become worse if immediate steps are not taken," said Sudhakar Panda, secretary of Odisha Byabasayee Sangha. Odisha requires around 14 lakh tonnes of potatoes annually to meet the requirement while the state requires 4,500 tonnes every day. Odisha mostly depends on West Bengal for potatoes. MSID:: 115846066 413 |
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In an effort to bolster the workforce in the face of growing economic and population booms, Governor Brian P. Kemp, who currently chairs the Southern Regional Education Board (SREB), has launched the Commission on Career Pathways and Credentials. The new commission is tasked with developing strategies to ensure that the southern states' residents have access to education and training that align with high-demand jobs, as reported by a press release from the Governor's office. According to Governor Kemp, "With the South experiencing incredible economic and population growth, one of the biggest challenges we currently face is preparing the next generation of workers for success in the ever evolving job market," a sentiment highlighting the urgency to create effective career pathways, in the announcement . The commission will be drawing from a diverse pool of expertise with members coming from each of SREB’s 16 member states and the group is anticipated to render its policy recommendations by late 2025, aiming to align skills with industry needs. The effort is meant to create a clear vision for all stakeholders involved, with SREB senior vice president for school improvement, Dale Winkler, stating, "Every student and adult needs to be able to see clearly how to get where they want to go," as people strive to align their educations and careers with the demands of the marketplace. Addressing the multidimensional nature of this challenge, SREB President Stephen L. Pruitt pointed out that, “This is complex work beyond the ability of K-12, higher education, adult education, or workforce agencies to do alone,” reflecting the necessity for a collaborative approach to workforce development, according to same press release. The Commission on Career Pathways and Credentials is a collective that includes leaders from various sectors — including governors' offices, state agencies, K-12 education, higher education, and businesses — each sharing their unique insights and reviewing data and best practices, aiming to create a framework to connect agencies data, learning and career-relevant credentials; the intention behind such an initiative is to craft a pragmatic approach in compiling lists of high-demand pathways and the occupations and credentials that resonate with local industries and propel economic vitality. Founded in 1948, the SREB has long been dedicated to improving the social and economic landscape of the South through advancements in education, solidifying SREB's place as a cornerstone of regional progress. It serves as a nonprofit, nonpartisan compact among 16 member states, extending from Delaware to Texas, providing essential policy data, aiding legislative decision-making, and actively improving teaching, learning, and leadership capabilities within academic institutions.LUSAIL, Qatar (AP) — Lando Norris ignored team orders and handed his McLaren teammate Oscar Piastri the sprint race in Qatar on Saturday, while Formula 1 champion Max Verstappen was stripped of the pole position. His penalty elevated George Russell to first on the grid. With McLaren eyeing its first F1 constructors' title in 26 years and Russell close behind for Mercedes, Norris was told by the team over the radio to “finish in this order,” ahead of Piastri. He chose to gift his teammate the win anyway, easing off to the right on the exit of the final corner and then swooping back across in front of Russell, who finished third. “The team told me not to do it, but I thought I could get away with it and we did,” Norris said. "Honestly, I don’t mind. I’m not here to win sprint races. I’m here to win races and the championship, but that’s not gone to plan." Norris was paying Piastri back for doing the same in the sprint race in Brazil when Norris was still fighting Verstappen for the drivers’ title. “I made my mind up in Brazil when it happened,” Norris said. “I needed to do something to give it back.” Piastri said he hadn't expected Norris to take the risk. “I was aware it could happen. I was a bit surprised that with George half a second (away) it did,” Piastri said. “It just shows off our teamwork and the lack of egos within the team.” It continues a season where McLaren’s race tactics have often been a talking point, such as when Norris and Piastri swapped for the lead in Hungary after a lengthy and often awkward radio exchange with the team. On Saturday, Norris started on pole position and kept the lead at the start as Piastri squeezed past Russell for second. As Russell repeatedly attacked Piastri, Norris dropped back instead of building a lead. That put Piastri within one second of Norris, allowing the Australian to use the DRS overtaking aid for extra speed. Russell said he found the McLaren teamwork “pretty infuriating” while stuck behind Piastri and also objected to what he saw as late moves from Piastri to defend the position. “Hopefully we can have a proper race (on Sunday) rather than this team orders stuff,” Russell said. The F1 champion thought he'd secured his first pole position since the Austrian GP in June, but a lengthy stewards' inquiry gave him a one-place penalty for driving “unnecessarily slowly” in an incident with Russell, who moved up to first on the grid. The Mercedes driver complained over the radio that it was “super dangerous” that he'd had to avoid Verstappen, who was ahead of him on the racing line as both drivers prepared for their final runs of qualifying. The stewards agreed Verstappen was going too slowly as he tried to cool his tires but didn't apply the usual three-place penalty because neither driver was trying to set a fast time. Verstappen hadn't been much of a factor in the sprint but he returned to form in qualifying, beating Russell by just .055 of a second on his last run. “Crazy. I mean, honestly, I didn’t expect that,” Verstappen said. “We did change a bit on the car but I never thought it would make such a swing in performance.” Norris was .252 off the pace and lines up third, with Piastri fourth, followed by Ferrari's Charles Leclerc, Mercedes' Lewis Hamilton and Ferrari's Carlos Sainz Jr. McLaren increased its lead over Ferrari in the constructors’ championship to 30 points, and has both of its drivers ahead of the Ferraris on the grid. Teams can earn a maximum 88 more points from the grand prix in Qatar and next week’s Abu Dhabi GP. Red Bull dropped to 67 points behind McLaren in the standings as Verstappen — crowned the drivers' champion for the fourth time last week in Las Vegas — finished eighth and his Red Bull teammate Sergio Perez was last after a pit stop to change his car's nose. AP auto racing: https://apnews.com/hub/auto-racing
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