VANCOUVER, British Columbia, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Rakovina Therapeutics Inc. (“Rakovina” or the “Company”) (TSX-V: RKV) announces that in accordance with the terms of an indenture entered into between the Company and Odyssey Trust Company (“Odyssey”) dated May 29, 2023 (the “Indenture”), certain holders (each, a “Debentureholder”) of 12.0% unsecured convertible debentures of the Company (the “Debentures”) have elected to receive common shares of the Company (the “Common Shares”) in lieu of cash in partial satisfaction of an aggregate total of approximately $91,000 interest payable to all holders of the Debentures on November 28, 2024 (the “Interest Payment Date”) and, in connection therewith, the Company has entered into a debt settlement agreement with Odyssey as of the date hereof. Approximately $20,500 of the interest payable under the Debentures will be settled by the issuance of Common Shares with the remaining amount to be settled in cash.

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Rakovina Announces Debentureholder Election to Receive Shares in Partial Satisfaction of Debenture Interest Payment Obligations