Fortitude and HeartSciences (Nasdaq: HSCS) Announce Business Combination, Aiming to Bring a Leading Vertically-Integrated Zcash Mining Platform to the Public Markets

About this update from Heartsciences Inc.

Fortitude Mining Holdings, Inc. ("Fortitude"), a vertically-integrated digital asset mining platform anchored in Zcash, and HeartSciences Inc. (Nasdaq: HSCS) (“HeartSciences”), an AI-powered medical technology company, today announced that they have entered into a definitive merger agreement to combine in an all-stock transaction (the “Proposed Transaction”) which is expected to close in H2 2026. Upon closing, the combined company will operate under the Fortitude brand and under the leadership of Fortitude’s management team—led by Fortitude CEO Andrea Childs—and is expected to trade on the Nasdaq Capital Market under the ticker symbol “TUDE”, subject to Nasdaq approval. Current HeartSciences CEO Andrew Simpson is expected to continue to lead the healthcare business unit after closing. Additional transaction materials are available on Fortitude’s website. Fortitude is a leading Zcash mining platform that is currently wholly-owned by Digital Currency Group (“DCG"), and which applies a venture mining approach across high-growth digital assets with a primary focus on Zcash, a privacy-preserving, Proof-of-Work asset. Launched in 2016 from Bitcoin's codebase, Zcash shares Bitcoin’s defining attributes, including a fixed 21 million coin supply, while adding robust privacy technology. Zcash’s shielded transaction pool is designed to enable private transactions, addressing growing demand for financial privacy as economic activity continues to move on-chain. Zcash has delivered a trailing twelve-month return of approximately 1,000%+ as of June 15, 20261. Fortitude began mining ZEC, the native token of the Zcash network, in 2019 and has scaled its annualized production to 157,000 ZEC (approximately 366 ZEC per day) as of May 31st, 2026. Drawing on a multi-year track record in Proof-of-Work mining, Fortitude’s platform integrates institutional grade operations, power infrastructure, and strategic capital deployment across three areas: Vertically-Integrated Zcash Strategy: Fortitude’s approach includes hardware procurement, infrastructure deployment, and research and development, driving low-cost Zcash production and meaningful operating leverage to price appreciation. Fortitude intends to continue building a significant long-term strategic Zcash position. Venture Mining: Fortitude focuses on capturing high-margin opportunities in early-stage Proof-of-Work protocols w...

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