Dr. Essam Hamza reports
ROCKET DOCTOR AI INC. ANNOUNCES CLOSING OF OVERSUBSCRIBED FIRST TRANCHE OF UNSECURED CONVERTIBLE DEBENTURE FINANCING
Rocker Doctor AI Inc., further to its news release of July 28, 2026, has closed a first tranche of its previously announced private placement of unsecured convertible debentures for aggregate gross proceeds of $2,269,000 (Canadian).
The debentures will bear interest from the date of issuance at a rate of 12.0 per cent per annum, calculated and payable on maturity that is 12 months following the issuance of the debentures. The principal amount of the debentures, together with any accrued and unpaid interest, may be converted, in whole or in part at the election of the holder, into units of the company at a conversion price of 70 Canadian cents (50 U.S. cents) per unit prior to or on the maturity date. Each unit will consist of one common share in the capital of the company and one transferable share purchase warrant, with each warrant being exercisable into one share at an exercise price of 75 Canadian cents (54 U.S. cents) per warrant share for a period of 12 months from the date of issuance pursuant to the terms therein. The warrant expiry date may be accelerated in the event the shares trade on the Canadian Securities Exchange at 75 cents or more per common share for any 10 consecutive trading days, and, upon delivery of a notice to the holder, the warrant expiry date will be accelerated to 5 p.m. on the date that is 10 calendar days from the date of delivery of an acceleration notice to the holder.
The company intends on using the net proceeds of the offering for working capital and general and administrative expenses, primarily focused on U.S. growth plans.
In connection with the closing of the first tranche, the company paid an eligible arm's-length finder an aggregate cash finder's fee of $86,730 (Canadian).
The debentures issued pursuant to the first tranche are subject to a hold period of four months and one day from the issuance date in accordance with applicable securities laws.
About Rocket Doctor AI Inc.
Rocket Doctor AI delivers physician-built, AI-powered (artificial intelligence) solutions designed to make high-quality health care accessible throughout the entire patient journey. A cornerstone of the company's proprietary technology is the Global Library of Medicine (GLM), a clinically validated decision support system developed with input from hundreds of physicians worldwide.
Alongside the GLM is Rocket Doctor Inc., and its AI-powered digital health platform and marketplace. Having helped empower over 350 MDs (medical doctors) to provide care to more than 750,000 patient visits, the company's proprietary technology software and systems enable doctors to independently launch and manage their own virtual or hybrid in-person practices -- improving efficiency, restoring autonomy to MDs and expanding patient access to care.
By reducing administrative burdens and ensuring greater consistency in care, the company's technology creates more time for meaningful physician-patient interactions. Rocket Doctor AI is committed to reaching underserved, rural and remote communities in Canada who often lack access to family doctors and supporting patients on Medicaid and Medicare in the United States. With advanced AI, large language models and connected medical devices, Rocket Doctor AI is redefining modern health care -- making it more scalable, equitable and patient centred.
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