Fennec raises $5.025M in Canadian private placement, redeems $21.7M Petrichor notes

FENNEC PHARMACEUTICALS INC.

Issued 670,000 common shares at US$7.50 per share for gross proceeds of $5,025,000 from existing institutional shareholders in Canada (excl. Quebec).
Offering closed November 18, 2025; shares registered under S-3 shelf and exempt from Canadian hold period.
Net proceeds plus other funds to repurchase and redeem Petrichor convertible notes for ~$21.73 million, due Nov 19, 2025.
Non-brokered, no placement agent; TSX approval obtained under Section 602.1 for interlisted issuer.

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