Aequus Announces Completion of Previously Announced Sale of ZIMED(R) PF

(TheNewswire)

VANCOUVER, British Columbia –TheNewswire - March 31, 2026 –Aequus Pharmaceuticals Inc. (TSX-V: AQS) (“Aequus” or the“Company”), a specialty pharmaceutical company, today announcedthat it has completed the previously announced sale of its ZIMED® PFproduct to Luvo Medical Technologies Ltd. (“Luvo”) foraggregate consideration of approximately $531,693 (the “Transaction”). Asthe Transaction constituted the sale of all or substantially all ofthe assets of the Company pursuant to Section 301 of the Business Corporations Act (British Columbia), the Transaction was approved by theCompany’s shareholders at the Annual General and Special Meetingheld on November 21, 2025 (the “Meeting”). Foradditional details regarding the Transaction, please refer to theCompany’s news release dated May 23, 2025 and the informationcircular dated October 20, 2025 related to the Meeting (the“InformationCircular”).

The Transaction was completed pursuant to the assetpurchase agreement dated May 22, 2025 between Aequus and Luvo (the“PurchaseAgreement”) as amended pursuant to an amendingagreement dated March 30, 2026. The Purchase Agreement was amended to,among other things, replace the ongoing 6% royalty obligationoriginally contemplated thereby with a one-time lump sum royaltypayment in an amount equal to approximately $131,693, therebyincreasing the aggregate consideration payable to the Company fromapproximately $400,000 to $531,693. As there are no further ongoingroyalty obligations, the Company will no longer be pursuing theassignment of the royalty to Douglas Janzen, the Chief ExecutiveOfficer of the Company, as described in the InformationCircular.

As a result of completion of the Transaction, effectiveon or about April 3, 2026, the Company’s exchange listing will betransferred to the NEX board of the TSX Venture Exchange (the“NEX”).

ABOUT LUVO MEDICAL TECHNOLOGIES INC.

Luvo Medical Technologies Inc. is a subsidiary ofClarion Medical Technologies Inc., a leading Canadian provider ofmedical equipment and consumables to aesthetic and vision providers inprivate clinics and hospitals.

ABOUT AEQUUS PHARMACEUTICALS INC.

Aequus Pharmaceuticals Inc. (TSX-V: AQS) isa specialty pharmaceutical company, with a focus oncommercializing value-added products in specialty therapeutic areas inthe Canadian market.

FORWARD-LOOKINGSTATEMENT DISCLAIMER

This release may containforward-looking statements or forward-looking information underapplicable Canadian securities legislation that may not be based onhistorical fact, including, without limitation, statements containingthe words “believe”, “may”, “plan”, “will”,“estimate”, “continue”, “anticipate”, “intend”,“expect”, “potential” and similar expressions. Forward-lookingstatements are necessarily based on estimates and assumptions made byus in light of our experience and perception of historical trends,current conditions and expected future developments, as well as thefactors we believe are appropriate. Forward-looking statements includebut are not limited to statements relating to the benefits of thetransaction and the transfer of the Company’s listing to the NEX.Such statements reflect our current views with respect to futureevents and are subject to risks and uncertainties and are necessarilybased upon a number of estimates and assumptions that, whileconsidered reasonable by Aequus, are inherently subject to significantbusiness, economic, competitive, political and social uncertaintiesand contingencies. Many factors could cause our actual results,performance or achievements to be materially different from any futureresults, performance, or achievements that may be expressed or impliedby such forward-looking statements. In making the forward-looking statements included inthis release, the Company has made various material assumptions,including, but not limited to: obtaining regulatory approvals; generalbusiness and economic conditions; the Company’s ability tosuccessfully out license or sell its current product and in-license ordevelop new products; the assumption that the Company’s current goodrelationships with third parties will be maintained; the availabilityof financing on reasonable terms; the Company’s ability to attractand retain skilled staff; market competition; the products andtechnology offered by the Company’s competitors; the impact ofglobal events on the Company’s operations; and the Company’sability to protect patents and proprietary rights. In evaluatingforward looking statements, current and prospective shareholdersshould specifically consider various factors set out herein and underthe heading “Risk Factors” in Aequus’ latest annualManagement’s Discussion and Analysis, a copy of which is availableon Aequus’ profile on SEDAR+ at www.sedarplus.ca and as otherwise disclosed from time totime on Aequus’ SEDAR+ profile. Should one or more of these risks oruncertainties, or a risk that is not currently known to usmaterialize, or should assumptions underlying those forward-lookingstatements prove incorrect, actual results may vary materially fromthose described herein. These forward-looking statements are made asof the date of this release and we do not intend, and do not assumeany obligation, to update these forward-looking statements, except asrequired by applicable securities laws. Investors are cautioned thatforward-looking statements are not guarantees of future performanceand are inherently uncertain. Accordingly, investors are cautioned notto put undue reliance on forward looking statements.

Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.

CONTACT INFORMATION

Aequus Investor Relations

Email: investors@aequuspharma.ca

Phone: 604-336-7906

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