IGC Pharma, Inc. (NYSE American: IGC), a clinical-stage biotechnology company focused on developing innovative treatments for Alzheimer’s disease and metabolic disorders using artificial intelligence, announced it has completed a registered direct offering of 779,997 shares of common stock at $0.30 per share. The transaction, governed by a Subscription Agreement entered into with a group of investors, is expected to generate gross proceeds of approximately $234,000 before estimated offering expenses. The company intends to use the net proceeds for working capital and general corporate purposes, with a primary focus on advancing its Phase 2 clinical development program for IGC-AD1, a cannabinoid-based therapy currently being evaluated in the CALMA trial for treating agitation in Alzheimer’s dementia. The offering was conducted under an effective shelf registration statement on Form S-3, declared effective by the U.S. Securities and Exchange Commission (SEC) on January 8, 2024, along with a related prospectus supplement. Ram Mukunda, CEO of IGC Pharma, expressed enthusiasm about the new investors, stating, “We're pleased to welcome a group of sophisticated, long-term investors who understand both the science and the opportunity ahead of us. These shareholders bring more than capital—they bring experience, conviction, and networks that can meaningfully support IGC's growth. We view them as partners and ambassadors as we advance our clinical programs and expand the Company's visibility in the market.” IGC Pharma is leveraging AI to accelerate drug discovery, optimize clinical trial design, and improve patient targeting. Its pipeline includes IGC-AD1, TGR-63—which targets amyloid plaques—and early-stage programs focused on neurodegeneration, tau proteins, and metabolic dysfunction. The company holds a comprehensive patent portfolio and remains committed to innovation in neurodegenerative disease therapeutics. The press release includes forward-looking statements regarding the company’s future operations, clinical development, and business strategy. These statements are subject to risks and uncertainties, including but not limited to the failure to commercialize products, delays or denials in regulatory approvals, challenges related to AI algorithm performance, evolving FDA policies on cannabis- and hemp-based products, and broader economic conditions. Actual results may differ materially from those projected. IGC Pharma assumes no obligation to update these statements. For more information, contact Rosalyn Christian or John Nesbett at IMS Investor Relations at [email protected] or (203) 972-9200.