Thiogenesis Closes Oversubscribed Non-Brokered Private Placement for Gross Proceeds of C$9.07 Million

About this update from Thiogenesis Therapeutics Corp

San Diego, California--(Newsfile Corp. - June 3, 2026) - Thiogenesis Therapeutics Corp. (TSXV: TTI) ("Thiogenesis" or the "Company"), a clinical-stage biotechnology company developing a next-generation cysteamine-based therapy for rare diseases, is pleased to announce that, further to its news releases of May 11 and June 1, 2026, it has completed an oversubscribed non-brokered private placement (the "Offering") through the issuance of 18,143,700 common shares (the "Offered Shares") at a price of C$0.50 per Offered Share for gross proceeds of C$9,071,850. All securities issued in connection with the Offering are subject to a four-month plus one day hold period ending October 2, 2026. The Offering has received conditional acceptance from the TSX Venture Exchange and remains subject to final acceptance. In connection with the Offering, the Company paid certain qualified finders: (i) a cash finder's fee equal to 7% of the gross proceeds raised from subscribers introduced by such finders, and (ii) non-transferable finder's options equal to 7% of the Offered Shares issued to such subscribers. Each finder's option entitles the holder to acquire one common share at a price of C$0.60 per share for a period of three years. In total, the Company paid C$561,529.50 in finder's fees and issued 780,059 finder's options. An independent director of the Company participated in the Offering and acquired 150,000 Offered Shares. The issuance to such insider constitutes a "related party transaction" under Multilateral Instrument 61-101 ("MI 61-101"). The Company relied on exemptions from the formal valuation and minority shareholder approval requirements in accordance with MI 61-101 and applicable policies of the TSX Venture Exchange. Net proceeds from the Offering will be used to advance the clinical development of TTI-0102, including an investigator-initiated study in cystinosis and a Phase 2a clinical study in Leigh syndrome spectrum, together with formulation and manufacturing activities, regulatory engagement, and general working capital and corporate purposes. In connection with the Offering, the Company engaged Bloom Burton Securities Inc. as a financial and strategic advisor on a non-exclusive basis. Bloom Burton provided advisory services to the Company in respect of the oversubscribed Off...

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