Ms. Iris Bincovich reports

INNOCAN PHARMA ANNOUNCES FIRST TRANCHE CLOSING OF PRIVATE PLACEMENT OF UNITS

Innocan Pharma Corp., further to its news release of Sept. 9, 2026, has completed a private placement of 247,314 units of the company at a price of $1.87 per unit for gross proceeds of $462,477.

Each unit comprises: (i) one common share in the capital of the company; and (ii) one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at a price of $2.50 for a period of three years from the date of issuance, provided that following issuance of the warrants, if the daily volume weighted average trading price of the common shares on the Canadian Securities Exchange for 30 consecutive trading days equals or exceeds $4.80, the company can, on written notice to the subscribers or by news release accelerate the expiry date of the warrants to the date that is 30 days following the date of the acceleration notice.

Innocan intends to use the proceeds of the offering for working capital and general corporate purposes. Innocan also paid finders' fees equal to 10 per cent in cash and issued 8 per cent finders' warrants to arm's-length finders.

The securities issued to subscribers in connection with the offering are subject to a hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange.

About Innocan Pharma Corp.

Innocan is an innovator in the pharmaceuticals and wellness sectors. In the wellness sector, Innocan develops and markets a wide portfolio of high performance self-care and beauty products to promote a healthier lifestyle. Under this segment Innocan carries on business through its 60-per-cent-owned subsidiary, BI Sky Global Ltd., which focuses on advanced, targeted on-line sales.

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