General

Bioasis Technologies Announces Closing of Initial C$3,000,000 Funding by Lind Companions

NEW HAVEN, Conn., June 29, 2021 (GLOBE NEWSWIRE) — Bioasis Technologies Inc. (“Bioasis” or the “Firm”) (TSX.V:BTI; OTCQB:BIOAF), a pre-scientific, examine-stage biopharmaceutical firm developing its proprietary xB3 TM platform abilities for the availability of therapeutics all the plan in which thru the blood-brain barrier (BBB) and the therapy of CNS disorders in areas of excessive unmet scientific need, at the side of brain cancers and neurodegenerative diseases, announced lately that it has closed on preliminary funding under the beforehand announced convertible security funding settlement (the “Agreement”) with Lind Global Macro Fund, LP, an entity managed by The Lind Companions, LLC, a Contemporary York-primarily primarily based asset administration company (collectively, “Lind”).

Below the Agreement, (i) Lind evolved to Bioasis C$3,000,000, much less a closing price of C$90,000, in consideration for the issuance of an uncertificated convertible security (the “First Convertible Security”) in the most foremost amount of C$3,000,000 and having an aggregate face cost of C$3,600,000, and (ii) the Firm issued to Lind 4,839,048 total fragment take warrants exercisable for 30 months from the date of relate at an relate designate of $0.41 per fragment. The proceeds from the issuance of the First Convertible Security will be extinct for current working capital.

Additional particulars relating to this funding would possibly per chance well moreover also be prove in a files open of the Firm dated June 22, 2021.

The Agreement and the issuance of the First Convertible Security thereunder had been conditionally approved by the TSX Enterprise Commerce on June 23, 2021. The First Convertible Security is field to a withhold period of 4 months and one day from the date hereof.

This files open doesn’t represent an supply to sell or a solicitation of an supply to rob nor shall there be any sale of any of the securities in any jurisdiction in which such supply, solicitation or sale would possibly per chance well be unlawful, at the side of any of the securities in the US of The US. The securities bask in now not been and would possibly per chance well now not be registered under the US Securities Act of 1933, as amended (the “1933 Act“) or any voice securities regulations and would possibly per chance well now not be offered or offered inner the US or to, or for fable or good thing about, U.S. Individuals (as defined in Rules S under the 1933 Act) unless registered under the 1933 Act and relevant voice securities regulations, or an exemption from such registration requirements is on hand.

On behalf of the Board of Directors of Bioasis Technologies Inc.

Deborah Rathjen, Ph.D., Executive Chair of the Board

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About Bioasis

Bioasis Technologies Inc. is a biopharmaceutical firm developing the xB3 TM platform, a proprietary abilities for the availability of therapeutics all the plan in which thru the blood brain barrier and the therapy of CNS disorders in areas of excessive unmet scientific need, at the side of brain cancers and neurodegenerative diseases. The provision of therapeutics all the plan in which thru the blood brain barrier represents the finest frontier in treating neurological disorders. The in-condominium construction packages at Bioasis are designed to sort symptomatic and disease-modifying therapies for brain-linked diseases and disorders. For more knowledge regarding the Firm, please talk over with www.bioasis.us.

Ahead Having a survey Statements

Obvious statements in this press open have forward-taking a survey statements inner the meaning of the Deepest Securities Litigation Reform Act of 1995 or forward-taking a survey knowledge under relevant Canadian securities legislation that can per chance now not be in step with historical fact alongside with other statements containing the words “imagine,” “would possibly per chance well moreover simply,” “design,” “will,” “estimate,” “proceed,” “protect up for,” “intend,” “request” and equivalent expressions. Such forward-taking a survey statements or knowledge involve known and unknown dangers, uncertainties and other factors that can cause our honest outcomes, occasions or inclinations, or industry outcomes, to be materially varied from any future outcomes, occasions or inclinations bid or implied by such forward-taking a survey statements or knowledge. Such factors consist of, amongst others, our stage of construction, lack of any product revenues, additional capital requirements, menace linked with the completion of scientific trials and acquiring regulatory approval to market our products, the skill to present protection to our psychological property, dependence on collaborative partners and the potentialities for negotiating additional company collaborations or licensing arrangements and their timing. Namely, determined dangers and uncertainties that can per chance moreover cause such honest occasions or outcomes expressed or implied by such forward-taking a survey statements and files to fluctuate materially from any future occasions or outcomes expressed or implied by such statements and files consist of, but ought to now not exiguous to, the dangers and uncertainties that: products that we sort would possibly per chance well moreover simply now not succeed in preclinical or scientific trials, or future products in our targeted company targets; our future working outcomes are unsure and at menace of fluctuate; we would possibly per chance well moreover simply now not be ready to protect additional capital; we would possibly per chance well moreover simply now not be winning in establishing additional company collaborations or licensing arrangements; we would possibly per chance well moreover simply now not be ready to attach advertising and marketing and the charges of launching our products will be better than anticipated; we haven’t got any experience in commercial manufacturing; we would possibly per chance well moreover simply face unknown dangers linked to psychological property issues; we face elevated competition from pharmaceutical and biotechnology firms; and other factors as described intimately in our filings with the Canadian securities regulatory authorities at www.sedar.com. Given these dangers and uncertainties, you are cautioned to now not place undue reliance on such forward-taking a survey statements and files, that are qualified in their entirety by this cautionary assertion. All forward-taking a survey statements and files made herein are in step with our most contemporary expectations and we undertake no obligation to revise or update such forward-taking a survey statements and files to copy subsequent occasions or circumstances, aside from as required by legislation.

Neither the TSX Enterprise Commerce nor its Rules Products and services Provider (as that time period is defined in the policies of the TSX Enterprise Commerce) accepts accountability for the adequacy or accuracy of this open

Contacts:

Deborah Rathjen, Ph.D., Executive Chair of the Board and CEO

[email protected]

203-533-7082

Investor Contact:

Graeme Dick

Colwell Capital Corp.

[email protected]

403-561-8989

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