[424B3] Portage Biotech Inc. Prospectus Filed Pursuant to Rule 424(b)(3)

Rhea-AI Filing Summary

Portage Biotech (NASDAQ: PRTG) has filed a prospectus supplement related to 481,581 Ordinary Shares underlying Warrants. The key development is the company's regaining of compliance with Nasdaq's continued listing requirements, specifically the minimum stockholders' equity requirement for The Nasdaq Capital Market.

Key points from the filing:

• The company's stock closed at $5.60 on June 24, 2025 on Nasdaq
• The filing updates the original prospectus dated November 7, 2023, which is part of Form F-1 Registration No. 333-275229
• This supplement incorporates information from Form 6-K filed on June 25, 2025
• The company is a clinical-stage immuno-oncology firm developing novel biologics for cancer treatment

The filing includes standard risk disclaimers and forward-looking statements regarding financing, going concern status, and scientific results. The document is signed by CFO Andrea Park and includes incorporation by reference into Forms S-8 and F-3 registration statements.

Positive

• Company regained compliance with Nasdaq's minimum stockholders' equity requirement, removing delisting risk and maintaining access to capital markets

Negative

• None.

Filed Pursuant to Rule 424(b)(3)

Registration No. 333-275229

PROSPECTUS SUPPLEMENT

(to Prospectus dated November 7, 2023)

 

Portage Biotech Inc.

481,581 Ordinary Shares underlying Warrants

This prospectus supplement is being filed to update and supplement the information contained in the prospectus dated November 7, 2023 (the “Prospectus”), which forms a part of our Registration Statement on Form F-1 (Registration No. 333-275229), as amended most recently by the post-effective amendment filed on August 23, 2024, with the information contained in our current report on Form 6-K, furnished to the Securities and Exchange Commission on June 25, 2025 (the “June 25, 2025 Form 6-K”). Accordingly, we have attached the June 25, 2025 Form 6-K to this prospectus supplement.

This prospectus supplement updates and supplements the information in the Prospectus and is not complete without, and may not be delivered or utilized except in combination with, the Prospectus, including any amendments or supplements thereto. This prospectus supplement should be read in conjunction with the Prospectus and if there is any inconsistency between the information in the Prospectus and this prospectus supplement, you should rely on the information in this prospectus supplement.

Our Ordinary Shares are listed on The Nasdaq Capital Market (“Nasdaq”) under the symbol “PRTG”. On June 24, 2025, the closing sale price of our Ordinary Shares as reported on Nasdaq was $5.60.

___________________________

Investing in the securities offered in the Prospectus involves a high degree of risk. Before making any investment in these securities, you should consider carefully the risks and uncertainties in the section entitled “Risk Factors” beginning on page 9 of the Prospectus, and in the other documents that are incorporated by reference into the Prospectus.

Neither the Securities and Exchange Commission nor any state or non-U.S. regulatory body has approved or disapproved of the securities offered in the Prospectus or passed upon the accuracy or adequacy of the Prospectus or this prospectus supplement. Any representation to the contrary is a criminal offense.

___________________________

The date of this prospectus supplement is June 25, 2025

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 2025

Commission File Number: 001-40086

PORTAGE BIOTECH INC.

(Translation of registrant's name into English)

Clarence Thomas Building, P.O. Box 4649, Road Town, Tortola, British Virgin Islands, VG1110

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [ X ]             Form 40-F [ ]

INCORPORATION BY REFERENCE

This report on Form 6-K (including any exhibits attached hereto) shall be deemed to be incorporated by reference into the registration statement on Form S-8 (File No. 333-275842) and Form F-3 (File No. 333-286961) of Portage Biotech Inc. (including any prospectuses forming a part of such registration statement) and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

On June 25, 2025, Portage Biotech Inc. (the “Company”) issued a press release announcing that on June 24, 2025, the Company received notice from The Nasdaq Stock Market, LLC, indicating that the Company has regained compliance with the minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market. Accordingly, the previously announced listing matter has been closed. A copy of the press release is filed herewith as Exhibit 99.1.

Exhibits

Exhibit Number		Description
99.1		Press Release dated June 25, 2025

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Portage Biotech Inc.
	(Registrant)
Date: June 25, 2025	/s/ Andrea Park
	Andrea Park Chief Financial Officer

EXHIBIT 99.1

Portage Biotech Regains Full Compliance with Nasdaq Continued Listing Requirements

DOVER, Del., June 25, 2025 (GLOBE NEWSWIRE) -- Portage Biotech Inc. (“Portage” or the “Company”) (NASDAQ: PRTG), a clinical-stage immuno-oncology company formed under the laws of the British Virgin Islands (“Portage”), announced today that on June 24, 2025, the Company received formal notice from The Nasdaq Stock Market LLC that the Company has evidenced compliance with all applicable requirements for continued listing on The Nasdaq Capital Market.

About Portage Biotech
Portage Biotech is a clinical-stage immuno-oncology company advancing a pipeline of novel biologics to transform the immune system’s ability to fight cancer. For more information, visit www.portagebiotech.com.

Forward-Looking Statements
All statements in this news release, other than statements of historical facts, including without limitation, statements regarding the Company’s business strategy, plans and objectives of management for future operations and those statements preceded by, followed by or that otherwise include the words “believe,” “expects,” “anticipates,” “intends,” “estimates,” “will,” “may,” “plans,” “potential,” “continues,” or similar expressions or variations on such expressions are forward-looking statements. As a result, forward-looking statements are subject to certain risks and uncertainties, including, but not limited to: the risk that the Company may not secure financing, the uncertainty of the Company’s ability to continue as a going concern, scientific results may not be as expected, and other factors set forth in “Item 3 - Key Information-Risk Factors” in the Company’s Annual Report on Form 20-F for the year ended March 31, 2024 and “Business Environment – Risk Factors” in the Company’s Management’s Discussion and Analysis for the Three and Six Months ended September 30, 2024, filed as Exhibit 99.2 to the Company’s Form 6-K. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.

For More Information:
Portage Biotech
Alexander Pickett, Chief Executive Officer
ir@portagebiotech.com

FAQ

What did PRTG announce in its June 25, 2025 SEC filing?

PRTG announced that on June 24, 2025, the company received formal notice from The Nasdaq Stock Market LLC confirming it has regained compliance with all applicable requirements for continued listing on The Nasdaq Capital Market, closing a previously announced listing matter.

What was PRTG's stock price on Nasdaq as of June 24, 2025?

PRTG's closing sale price on Nasdaq was $5.60 per share on June 24, 2025.

How many ordinary shares is PRTG registering in this prospectus supplement?

The prospectus supplement covers 481,581 Ordinary Shares underlying Warrants.

Who is the current CEO of Portage Biotech (PRTG)?

According to the filing, Alexander Pickett is the Chief Executive Officer of Portage Biotech.

What is PRTG's business focus according to the filing?

Portage Biotech (PRTG) is a clinical-stage immuno-oncology company advancing a pipeline of novel biologics to transform the immune system's ability to fight cancer.