CANARIABIO Inc. announced a private placement of series 3 bearer type non-guaranteed private placement non-separable bond with warrants for gross proceeds of KRW 80,000,000,000 on October 12, 2022. The transaction included participation from CANARIABIO M Inc. The series 3 bonds will carry a coupon rate of zero percent and will mature on October 12, 2052. The warrants are exercisable into 3,451,251 common shares of at a strike price of KRW 23,180 per share and will be exercisable between the period of October 12, 2023 and September 12, 2052.

The transaction has been approved by board of directors of the company. The date of subscription is October 12, 2022.