VANCOUVER, British Columbia, Nov. 28, 2025 (GLOBE NEWSWIRE) — Ranovina Therapeutics Inc. (“Sink” or the “Company”) (TSX-V: RKV) (FSE: 7JO0), a biopharmaceutical company advancing cancer treatments through drug discovery powered by artificial intelligence, announces that further to its press release dated June 30, 2025, and subject to the terms of its debt agreement (“Agreement“) between the Company and Odyssey Trust Company as trustee for the debentures (“Debt Trustee“) dated May 29, 2023, governing the Company's 12.0% convertible notes in an aggregate principal amount of $1,454,000.00 (“Convertible bonds“), holders (each, “Debenture holder“) representing at least 66 2/3% of the outstanding principal amount of the Convertible Notes have agreed to an extension of the maturity date of the Convertible Notes from November 29, 2025 to January 28, 2026 (“”Extension“). The extension was approved by written consent dated November 28, 2025 in accordance with the terms of the Agreement. At this time, the Company has not proceeded to implement the amendments mentioned in the press release dated June 30, 2025.
Amendments to convertible notes
The Company proposes to enter into an additional agreement with the Debt Trustee, amending the terms of the Agreement to take into account the Extension. All other terms will remain the same and the Convertible Notes will continue to accrue interest at the rate of 12.0% during the Extension. The expansion remains subject to approval by the TSX Venture Exchange (“Exchange“).
Related Party Disclosure
Certain directors of the Company as a group beneficially own, control or direct, directly or indirectly, approximately $100,000 of the principal amount of the Convertible Notes, representing approximately 6.9% of the outstanding principal amount of the Convertible Notes. The participation of such persons in the Expansion constituted a “transaction between interested parties” as defined in Multilateral Instrument 61-101: Protection of minority security holders in special transactions (“MI 61-101“) and Exchange Policy 5.9 – Protection of minority security holders in special transactions (“Policy 5.9“) The Company relied on the exceptions to the formal valuation and minority shareholder approval requirements of MI 61-101 contained in its sections 5.5(a) and 5.7(1)(a) because neither the fair market value of the Convertible Notes held by related parties nor the consideration paid with respect thereto exceeded 25% of the Company's market capitalization.
Warrant Incentive Program
In addition to the Company's new announcement dated July 24, 2025, the Company also announces that its early exercise warrant incentive program expired on September 2, 2025 and the warrants were not exercised.
About Sink Therapeutics Inc.
Sink Therapeutics is a biopharmaceutical research company focused on developing innovative cancer treatments. Our work is based on unique DNA damage response technologies powered by artificial intelligence (AI) using our proprietary Deep-Docking™ and Enki™ platforms. Using AI, we can screen and optimize drug candidates much faster than ever before.
The Company has created a pipeline of unique DNA damage response inhibitors with the goal of advancing one or more drug candidates into human clinical trials in collaboration with pharmaceutical partners. More information can be found at www.rakovinatherapeutics.com..
No regulatory authority has approved or approved the contents of this press release. Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Notice Regarding Forward-Looking Statements
This press release may contain “forward-looking statements” with respect to the Company and its related business within the meaning of applicable Canadian securities legislation, including, without limitation, statements regarding: the receipt of Exchange approval; the Company's goals, objectives or future plans regarding cancer treatment or the proposed business plan and expected results of the Company's DDR platform. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Often, but not always, forward-looking statements can be identified by the use of words such as “plans,” “expects,” “anticipates,” “scheduled,” “intends,” “considers,” “anticipates,” “believes,” “proposes,” or variations (including negative variations) of such words and phrases, or states that certain actions, events or results “may,” “could,” “will,” “could,” or “would” be taken or achieved.
The forward-looking events and circumstances discussed in this press release may not occur on certain dates indicated, or at all, and may differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including risks associated with the medical device industry, economic factors, regulatory factors, stock markets generally, and risks associated with growth and competition. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For a more complete discussion of all applicable risk factors and their potential consequences, the reader is referred to the Company's most recent filings on SEDAR+, copies of which can be obtained on the Company's profile page at: www.sedarplus.ca.
For more information contact:
Michelle Seltenrich, MBA
Director of Corporate Development
[email protected]
778-773-5432
