Company: FENC
Filing Date: 2025-11-18
Form Type: 8-K
Source: 0001104659-25-113646
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Company: FENNEC PHARMACEUTICALS INC.
Filing Date: 2025-11-18
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry into a Material Definitive Agreement.  

On
November 17, 2025, Fennec Pharmaceuticals Inc. (the “ Company”) entered into common share subscription agreements
(each, a “ Subscription Agreement” and collectively, the “ Subscription Agreements”) with certain of its existing
institutional shareholders and affiliated entities resident in the provinces of Canada (except Quebec), pursuant to which the Company
agreed to issue and sell an aggregate of 670,000 common shares, no par value (the “ Shares”), to each investor at an offering
price of US$7.50 per share (the “ Offering”). The Offering was made pursuant
to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus ExemptionsThe Company
has not engaged any broker or placement agent in connection with the Offering.

The
Company registered the Shares offered in the Offering under a prospectus supplement and related prospectus filed with the Securities and
Exchange Commission pursuant to the Company’s effective shelf registration statement on Form S-3 (Registration No. 333-275452),
which was previously filed with the Securities Exchange Commission on November 9, 2023 and declared effective on December 15, 2023.

The
Subscription Agreement contains customary representations, warranties and covenants of the Company and the investors. The representations,
warranties and covenants contained in each Subscription Agreement were made only for purposes of such agreement and as of specific dates
and were solely for the benefit of the parties to the Subscription Agreements. The foregoing descriptions of the Subscription Agreements
do not purport to be complete and are qualified in their entirety by reference to the Subscription Agreements, a form of which is attached
as Exhibit 10.1 hereto and is incorporated herein by reference.

A
copy of the opinion of LaBarge Weinstein LLP relating to the validity of the Shares issued in the Offering is filed herewith as Exhibit
5.1.

The
Offering closed on November 18, 2025 (the “ Closing Date”). The aggregate gross proceeds to the Company from the Offering were
US$5,025,000, before deducting offering expenses payable by the Company. The Company intends that the first use of proceeds
from this Offering will be to repurchase and redeem its outstanding convertible notes (the “ Petrichor Notes”) issued to Petrichor
Opportunities Fund I LP and Petrichor Opportunities Fund I Intermediate LP