BOUCHERVILLE, QC — December 23, 2025 — Leads & Copy — LSL Pharma Group Inc. (TSXV: LSL) has completed the initial closing of its brokered private placement of unsecured convertible debentures, raising gross proceeds of $10,000,000.
The offering, led by Bloom Burton Securities Inc. along with Research Capital Corporation and Leede Financial Inc., involved the issuance of debentures at $1,000 each. These debentures carry a 10.0% annual interest rate, payable semi-annually, and will mature on December 31, 2029, when the principal amount becomes repayable in cash. Each debenture is convertible into common shares of the Corporation at $0.45 per share.
The offering was upsized from $11,000,000 to $12,000,000. The remaining $2,000,000 is expected to close on a non-brokered basis concurrently with the acquisition of Juno OTC Inc.
In consideration for their services, the agents received $440,000 in cash commission and 400,000 broker warrants. These warrants allow the holder to acquire one common share at $0.45 per share within 24 months of the offering closing date, which was December 23, 2025. All securities issued are subject to a statutory hold period expiring four months plus one day from the closing date, in accordance with securities legislation.
The net proceeds will be used for the acquisition of Juno OTC Inc. and for general corporate purposes.
Noureddine Mokaddem, a director of the Corporation, purchased $4,000,000 in debentures, which are subject to a hold period expiring April 24, 2026. Mokaddem’s participation is considered a related party transaction but is exempt from certain formal valuation and minority shareholder approval requirements.
LSL Pharma Group Inc. has also entered into a share purchase agreement to acquire Juno OTC Inc. from Juno Pharmaceuticals LP for $5 million. The acquisition is expected to close around December 23, 2025, with LSL Pharma assuming full control on January 1, 2026. Until then, the Seller will retain operational control.
Juno OTC is a supplier in the Canadian private label consumer healthcare OTC market. It provides retailers with product offerings under their own private label brands. Juno OTC holds all required Health Canada licenses for importing and distributing products.
LSL Pharma Group Inc. specializes in the development, manufacturing, and commercialization of sterile ophthalmic pharmaceutical products, as well as pharmaceutical, cosmetic, and natural health products. The companies that are part of the LSL Pharma Group are Steri-Med Pharma Inc., LSL Laboratory Inc., Virage Santé Inc., Dermolab Pharma Ltd. and Du-Var Laboratory Inc.
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Source: LSL Pharma Group Inc.
