BetterLife Pharma closes an offering of pre-funded warrants with a nominal exercise price and no expiry date

BetterLife Pharma, a junior Canadian biotech company, issued 447 million common shares (at Cdn.$0.25 per share) and 108 million pre-funded warrants (at Cdn.$0.24999 per warrant) pursuant to a short-form prospectus. Each pre-funded warrant was exercisable at a nominal exercise price of Cdn.$0.00001 per share (for an aggregate of about Cdn.$4,500). They can (and likely will) be exercised on a “net” or “cashless” basis, with delivery of the exercise notice resulting in their cancellation.

The Canadian tax disclosure applied the s. 49 rules (assuming capital property treatment). It noted that although the pre-funded warrants will not expire, if they did have an expiry date, a resident holder would incur a capital loss equal to the ACB of its warrants.

Neal Armstrong. Summary of BetterLife Pharma Short Form Prospectus dated 11 September 2026 and 17 September Press Release under Offerings – Pre-funded warrants.