Burcon NutraScience Corporation announced it has completed an over-subscribed non-brokered private placement of 20,298,418 units at an issue price of CAD 0.215 per Unit for gross proceeds of CAD 4,364,159.87 on March 12, 2024. The transaction included participation from company directors, management, long-term shareholders, and new investors in support of it's long-term vision. Each unit consists of one common share in the capital of the Company and one-half of one Common Share purchase warrant of the Company.

Each Warrant entitles the holder thereof to purchase one Common Share at a price of CAD 0.27 per Warrant Share for a period of 24 months after the closing date of the Offering. All securities issued in connection with the Offering are subject to a statutory hold period in Canada expiring four months and one day from the closing of the private placement. n connection with the Offering, the Company paid eligible finders an aggregate cash finder fee of CAD 5,160, representing a cash commission of 4% of the gross proceeds of subscribers introduced to the Company by such finders.

The company raised CAD 3,998,808.77 pursuant to Regulation D in the transaction from 16 investors.