Toronto, Ontario — February 20, 2026 — Leads & Copy — Sernova Biotherapeutics (TSX: SVA) (OTC: SEOVF) (FSE: PSH0) intends to amend some of its outstanding warrants, pending TSX approval.
The company issued 20,852,100 warrants on September 3, 2024, pursuant to a private placement unit offering, which are governed by a Warrant Indenture and expire on March 3, 2026. The company also issued 404,950 warrants to finders in connection with the private placement that also expire on March 3, 2026. All of these warrants have an exercise price of $0.30 and are subject to accelerated expiry by the company if the 20 day volume-weighted average trading price exceeds $0.50.
The proposed amendment will extend the expiry date by one year to March 3, 2027, for all warrants not held by insiders of the company, totaling 19,977,050 common share purchase warrants.
Sernova also issued 5,466,250 warrants to investors pursuant to a private placement unit offering in October and November 2025, along with 105,000 finders warrants. These warrants have an exercise price of $0.40 and a term of 3 years. The proposed amendment will change the exercise price to $0.25 and include a provision allowing the company to accelerate the expiry date if the 5 day volume-weighted average trading price exceeds $0.50.
No warrants held by insiders of the company will be amended. Both amendments will take effect on March 6, 2026, and the warrants extended to March 3, 2027, will not be exercisable on March 4 or March 5, 2026.
Sernova Biotherapeutics is focused on developing its Cell Pouch Bio-hybrid Organ as a functional cure for type 1 diabetes (T1D). The company is a clinical-stage regenerative medicine company combining its Cell Pouch with human donor cells or stem-cell derived islet-like clusters in collaboration with Evotec to create bio-hybrid organs to treat T1D. A bio-hybrid organ comprises non-biomaterials, such as the Cell Pouch, integrated with living tissues to restore or enhance the function of a compromised organ. This approach aims to deliver a potentially revolutionary treatment for patients with chronic diseases, initially focusing on T1D and thyroid disorders.
Source: Sernova Biotherapeutics
