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Rakovina Therapeutics Inc. ("Rakovina" or the "Company") (TSX-V: RKV)(FSE: 7JO0) a biopharmaceutical company advancing cancer therapies through AI-enabled drug discovery, announces that further to its news release dated June 30, 2025, and in accordance with the terms of a debenture indenture (the " Indenture ") between the Company and Odyssey Trust Company as the debenture trustee (the " Debenture Trustee ") dated May 29, 2023, governing the 12.0% convertible debentures of the Company in the aggregate principal amount of $1,454,000.00 (the " Convertible Debentures "), holders (each, a " Debentureholder ") representing at least 66 23% of the outstanding principal of the Convertible Debentures have consented to the extension of the maturity date of the Convertible Debentures from November 29, 2025 to January 28, 2026 (the " Extension "). The Extension was approved by way of a written consent dated November 28, 2025, in accordance with the terms of the Indenture. At this time, the Company has not proceeded with the amendments referenced in the June 30, 2025, news release.
Amendment of Convertible Debentures
The Company proposes to execute a supplemental indenture with the Debenture Trustee amending the terms of the Indenture to reflect the Extension. All other terms will remain the same and the Convertible Debentures will continue to bear interest at a rate of 12.0% during the Extension. The Extension remains subject to the approval of the TSX Venture Exchange (the " Exchange ").
Related Party Disclosure
Certain directors of the Company, as a group, beneficially own, control or direct, directly, or indirectly, approximately $100,000 principal amount of the Convertible Debentures, representing approximately 6.9% of the outstanding principal amount of the Convertible Debentures. Participation by such persons in the Extension constituted a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 ") and Exchange Policy 5.9 - Protection of Minority Security Holders in Special Transactions (" Policy 5.9 "). The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) thereof, as neither the fair market value of the Convertible Debentures held by related parties, nor the consideration payable in respect thereof, exceeded 25% of the Company's market capitalization.
Warrant Incentive Program
Further to the Company's new release dated July 24, 2025, the Company also announces that its early exercise warrant incentive program expired on September 2, 2025, and no warrants were exercised.
About Rakovina Therapeutics Inc.
Rakovina Therapeutics is a biopharmaceutical research company focused on the development of innovative cancer treatments. Our work is based on unique technologies for targeting the DNA-damage response powered by Artificial Intelligence (AI) using the proprietary Deep-Docking™ and Enki™ platforms. By using AI, we can review and optimize drug candidates at a much greater pace than ever before.
The Company has established a pipeline of distinctive DNA-damage response inhibitors with the goal of advancing one or more drug candidates into human clinical trials in collaboration with pharmaceutical partners. Further information may be found at www.rakovinatherapeutics.com .
No regulatory authority has approved or disapproved the content of this press release. Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Notice Regarding Forward-Looking Statements
This press release may contain "forward-looking statements" regarding the Company and its respective business within the meaning of applicable Canadian securities laws, including, without limitations, statements regarding: receipt of Exchange approval; the Company's objectives, goals, or future plans regarding its cancer treatments or proposed business plan and expected results of the Company's DDR platform. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. 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.
The forward-looking events and circumstances discussed in this press 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.sedarplus.ca .
For Further Information Contact:
Michelle Seltenrich, BSc MBA
Director, Corporate Development
IR@rakovinatherapeutics.com
778-773-5432
