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Categorized in News

March 6, 2023

Sona Nanotech Receives Waiver on Requirement to Raise Additional Equity Capital

Halifax, Nova Scotia — (Newsfile Corp. – March 6, 2023) – Sona Nanotech Inc. (CSE: SONA), (OTCQB: SNANF) (the “Company” or “Sona”) announces that Siva Therapeutics, Inc. ("Siva") and its shareholders have waived the requirement for any further equity raise by Sona prior to the closing of the proposed acquisition of Siva by Sona (the “Proposed Transaction”), further to the Company’s announcements dated January 26, February 21 and February 24, 2023. The waiver was issued subsequent to the previously announced completion of the Company’s recent oversubscribed equity financing which raised $1.1 million in gross proceeds.

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February 24, 2023

Sona Nanotech Closes Non-Brokered Private Placement Financing to Raise $1.1M in Gross Proceeds

Halifax, Nova Scotia-(Newsfile Corp. - February 24, 2023) - Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company" or "Sona") is pleased to announce that it has closed its non-brokered private placement that was announced on January 26, 2023 and subsequently upsized as announced on February 21, 2023, with the issuance of 11,000,000 shares at $0.10 per share (the "Financing"). As previously disclosed, the Company intends to use the net proceeds of the Financing for corporate development and general working capital purposes.

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February 21, 2023

Sona Nanotech to Increase Size of Equity Financing

Halifax, Nova Scotia-(Newsfile Corp. - February 21, 2023) - Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company" or "Sona") further to the Company's announcement dated January 26, 2023 that it had entered into a binding agreement (the "Definitive Agreement") to acquire Siva Therapeutics, Inc. ("Siva"), the developer of Targeted Hyperthermia Therapy photo thermal therapy for cancer tumors using Sona's uniquely biocompatible gold nanorods (the "Proposed Transaction"). Sona has increased the proposed Working Capital Financing from 5,000,000 common shares up to 11,000,000 common shares at an offering price of $0.10 per share for corporate development and general working capital purposes. The Working Capital Financing is necessary and integral for Sona to be able to complete the Proposed Transaction, but is not contingent upon the closing of the Proposed Transaction. The closing of this offering has also been extended, and is now expected to occur by February 28, 2023.

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February 8, 2023

Sona Nanotech Receives Technology Assessment Results from NCL

Halifax, Nova Scotia--(Newsfile Corp. - February 8, 2023) - Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company" or "Sona") is pleased to announce that it has received the results of an independent assessment of its proprietary gold nanorod nanoparticles from the National Cancer Institute's Nanotechnology Characterization Laboratory ("NCL"). The assessment included analyses of three batches of Sona's materials for microbial contamination, endotoxin levels, Beta-glucan, physiochemical characterization, and polyethylene glycol ("PEG") concentrations.

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January 26, 2023

Sona Nanotech to Acquire Cancer Therapy Developer Siva Therapeutics

Halifax, Nova Scotia — (Newsfile Corp. – January 26, 2023) – Sona Nanotech Inc. (CSE: SONA), (OTCQB: SNANF) (the “Company” or “Sona”) is pleased to announce that it has entered into a binding agreement (the “Definitive Agreement”) on January 26, 2023 to acquire Siva Therapeutics, Inc. (“Siva”), the developer of Targeted Hyperthermia Therapy™ (“THT”) photo thermal therapy for cancer tumors using Sona’s uniquely biocompatible gold nanorods (the “Proposed Transaction”). Siva holds two patents supporting the in vivo delivery of a thermal therapy, which is being designed to have multiple beneficial effects on tumors, including being more selective than chemotherapy, less destructive than radiation, and without the risks of surgical treatment. Under the Definitive Agreement, Sona has agreed to acquire all of the issued and outstanding common shares of Siva with total consideration to the Siva shareholders of US $2.0 million in Sona shares (the “Transaction Shares”) at the date of closing (the “Closing Date”), plus up to an additional US $6.65 million in Sona shares over multiple instalments conditional on Siva’s future achievement of specific performance milestones by January 31, 2025 (the “Performance Shares”).

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November 8, 2022

Sona Signs MOU for Bovine TB Test Development and Commercialization

Halifax, Nova Scotia–(Newsfile Corp. – November 8, 2022) – Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the “Company” or “Sona”) is pleased to announce that it has entered into a memorandum of understanding (“MOU”) to evaluate, and if determined effective, to commercialize its bovine tuberculosis (“BTB”) rapid test.

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May 19, 2022

Sona Provides Corporate Update – May 2022

Sona Nanotech announces the termination of its licensing agreement with Arlington Scientific for the Company’s COVID-19 rapid saliva test. The Company will continue to focus its efforts on the development of its concussion and bovine tuberculosis rapid tests, and on the development of its proprietary gold nanorod technology, including manufacturing capabilities, and key research studies to further validate its biocompatibility. The Company is also pleased to announce the dismissal of the class action suit filed in the U.S.

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September 23, 2021

Sona Updates on Strategy and Test Development Progress

Sona leverages on its core GNR manufacturing technology, scientific experience, and laboratory asset to focus on two strategic priorities for its business: the development of rapid diagnostic tests and biologic reagents, and the advancement of its GNR intellectual property towards important medical in vivo applications. 

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