BioMedNewsBreaks – IGC Pharma Inc. (NYSE American: IGC) Announces $3M Common Stock Private Placement

IGC Pharma (NYSE American: IGC), a company that develops advanced cannabinoid-based formulations for treating diseases and conditions, including but not limited to Alzheimer’s disease, period cramps (dysmenorrhea), premenstrual syndrome (“PMS”) and chronic pain, has received strategic investment support. According to an announcement from the company, it has received investments from four funds managed by Bradbury Asset Management (Hong Kong) Limited, a leading asset management firm with more than $2 billion in managed assets. The announcement also noted that additional contributions were received from three unrelated investors. In total, the company has received an estimated $3 million in gross proceeds. “The funds support the advancement of the company’s phase 2 clinical trial of IGC-AD1, the company’s promising investigational drug candidate designed to address agitation in dementia caused by Alzheimer’s disease,” the announcement stated. “The completion of the private placement is subject to customary closing conditions, including approval by the NYSE. Under the terms of the private placement, IGC will issue 10 million shares of unregistered common stock at a price of $0.30 per share. These shares are not immediately tradable, and it is important to note that the transaction does not include warrants or other derivatives.”

To view the full press release, visit https://ibn.fm/jdyWc

About IGC Pharma Inc.

IGC Pharma (dba IGC) develops advanced cannabinoid-based formulations for treating diseases and conditions, including but not limited to Alzheimer’s disease, period cramps (dysmenorrhea), premenstrual syndrome (“PMS”) and chronic pain. IGC has two investigational drug assets targeting Alzheimer’s disease, IGC-AD1 and TGR-63, which have demonstrated in Alzheimer’s cell lines the potential to be effective in suppressing or ameliorating key hallmarks of Alzheimer’s disease, such as plaques or tangles. IGC-AD1 is a low-dose tetrahydrocannabinol (“THC”)-based formulation that is currently in a 146-person phase 2 clinical trial for agitation in dementia due to Alzheimer’s. IGC also markets a wellness brand, Holief(TM), that targets women experiencing premenstrual syndrome and menstrual cramps. For more information, visit the company’s website at www.IGCInc.us.

NOTE TO INVESTORS: The latest news and updates relating to IGC are available in the company’s newsroom at https://ibn.fm/IGC

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