Verisante Technology, Inc. Announces RTO Update:

About this update from Verisante Technology, Inc.

Verisante Technology, Inc. Announces RTO Update:RTO Partner SunRegen Healthcare AG Closes Private Placement for $2.1 Million VANCOUVER, BC / ACCESSWIRE / December 18, 2024 / Verisante Technology, Inc. (TSX-V:VER.H) ("Verisante") announces that further to its news release dated October 31, 2024, SunRegen Healthcare AG ("SunRegen") has now closed the previously announced pre-RTO private placement.As announced on August 12, 2024, Verisante entered into a binding Letter of Intent ("LOI") to acquire a 100% interest in SunRegen Healthcare AG ("SunRegen"), a Swiss pharmaceutical company. The proposed transaction is a Reverse Takeover ("RTO") pursuant to Policy 5.2 of the TSX Venture Exchange and the resulting issuer intends to qualify as a Tier 2 Life Sciences Issuer.Pre-RTO Private Placement ClosingSunRegen has closed its previously announced private placement in the amount of CHF1,333,333.40 (equivalent to CAD$2,137,226 as of December 18, 2024) based on a pre-money valuation of CHF20,000,000. The price per share is equivalent to $0.80 per share in the resulting issuer post-RTO closing.The investor has the right to subscribe up to an additional CAD$2,000,000 of common shares at the same price per share within 90 days of the closing of the proposed RTO, subject to TSX-V Exchange Policies and acceptance. If the RTO transaction does not close by May 31, 2025, then SunRegen will issue 92,835 common shares to the investor at an issue price of CHF0.10.No finders' fees or commissions were paid by SunRegen in connection with the private placement. The transaction was approved by SunRegen's board of directors and shareholders. The proceeds will be used to fund the regulatory approval process for SBC003 as well as RTO transaction costs such as audit and legal fees. It is anticipated that except for transaction related costs, that the capital will be preserved until the RTO closing and combined with the concurrent financing, the details of which will be disclosed in a forthcoming update once terms have been finalized.About SunRegenSunRegen is a Basel, Switzerland based pharmaceutical company, incorporated under Swiss law, focused on the development of neurodegenerative related drugs. Currently, they are focusing on the development of their lead compound, SBC003, for the treatment of neuronal apoptosis-related diseases, starting with ophthalmic neurodegenerative diseases a...

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