Profound Medical Corp. announced that it has entered into subscription agreements with certain existing Canadian institutional investors in connection with a non-brokered private placement of an aggregate of 391,667 common shares at a price of $7.50 per share for the gross proceeds of $2,937,502.5 on January 16, 2024. All of the Common Shares issued in connection with the Private Placement will be subject to a four-month and one day statutory hold period.

The closing of the Private Placement is expected to occur on or about January 17, 2024, subject to customary closing conditions.