New Risk • Jun 12
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$5.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$5.5m free cash flow). Negative equity (-CA$9.6m). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$58.4m market cap, or US$41.8m). Announcement • Apr 25
Sernova Biotherapeutics Inc announced that it has received CAD 7.564399 million in funding On April 23, 2026, Sernova Biotherapeutics Inc closed the transaction. The company issued 26,666,667 units at CAD 0.15 per unit for gross proceeds of CAD 4,000,000 and unsecured convertible debenture for gross proceeds of CAD 1,500,000 for total aggregate gross proceeds of CAD 5,500,000 in its second and last tranche. Announcement • Mar 05
Sernova Biotherapeutics Inc announced that it expects to receive CAD 7.1 million in funding Sernova Biotherapeutics Inc announced a non-brokered private placement to issue 10,666,666 units at a price of CAD 0.15 per unit for aggregate proceeds of CAD 1,599,999.9 on March 4, 2026. Each unit consisting of one common share and one common share purchase warrant exercisable at CAD 0.25 for 36 months, subject to acceleration provisions. This private placement is planned to close on March 6, 2026. Concurrently, the company announced to issue Convertible debentures for aggregate proceeds of CAD 1,500,000. The debenture will bear an interest rate of 10% per annum and convertible at CAD 0.15 per share, issued together with 10,000,000 warrants exercisable at CAD 0.25 for 36 months, subject to acceleration provisions. The debenture funds have been advanced as the first tranche and the Company will close this transaction immediately upon TSX acceptance. On the same day, the company announced to issue 26,666,667 units at a price of CAD 0.15 per unit for aggregate proceeds of CAD 4,000,000.05. Each unit including one common share and one common share purchase warrant exercisable at CAD 0.20 for 36 months, subject to acceleration provisions. Total gross proceeds from the offerings amounts to CAD 7,100,000.05. The close of this transaction is subject to shareholder approval at our Annual General Meeting on April 8, 2026. The securities issued and issuable in connection with the foregoing financings are subject to a four-month hold period under applicable securities laws in Canada. The Convertible debenture and the CAD 4,000,000 financing will include participation from insider/director. 
