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VANCOUVER, BC / ACCESS CABLE / August 2, 2022 / XPyto Therapeutics Corp. (“XPito” or the “Company“) (CSE:XPHY) is pleased to announce that the Company has closed the first tranche of its previously announced non-brokered private placement in the amount of 2,810,000 units of the Company (the “Units“) at a price of $0.36 per Unit for gross profits of $1,011,600 (the “Section“). The total placement size, cumulative across all tranches, is anticipated to be a maximum of 10,000,000 Units issued for maximum gross proceeds of $3,600,000 (the “private placement“). The Company intends to close the second tranche of its Private Placement in the near future.

Each Unit consists of one common share in the capital of the Company (one “common stock“) and one-half of a Common Share purchase Warrant (each full warrant, one “Order“). Each Warrant will entitle the holder to acquire one Common Share (one “Warranty Share“) at an exercise price of $0.50 per Warrant Share for a period of 24 months from the date of issue. For additional details regarding the private placement, please refer to the Company’s press release dated July 22, 2022.

In connection with the closing of the Tranche, the Company paid cash seeker fees in the amount of $80,928 and issued a total of 224,800 seeker warrants (the “search warrants“) to an eligible seeker. Finder Warrants are non-transferable common shares purchase warrants exercisable per Common Share at a price of $0.50 per Common Share for a period of 24 months from the date of issuance.

All securities issued or likely to be issued in connection with the closing of the Private Placement, including those issued pursuant to this Tranche, will be subject to a statutory hold period of four months plus one day from the date of issue pursuant to with applicable securities legislation.

The securities referred to in this press release have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or for , or for the account or benefit of, US persons without US registration or an applicable exemption from US registration requirements. This press release does not constitute an offer to sell securities for sale. , nor a request for bids for to buy any value.

About XPhyto Therapeutics Corp.

XPhyto Therapeutics Corp. is a bioscience accelerator focused on next-generation drug delivery, diagnostics and new investment opportunities in active pharmaceutical ingredients, including: precision transdermal and oral soluble drug formulations; rapid, low-cost oral health and infectious disease screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelics and cannabinoids. The Company has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets.

XPyto Therapeutics Corp.

Hugh Rogers, CEO and Director
Email: [email protected]
Phone: +1 780-818-6422

Cautionary Statement Regarding “Forward-Looking” Information

This release includes certain statements that may be considered “forward-looking statements.” All statements in this release, other than statements of historical fact, that address events or developments that the Company expects to occur are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects” , “potential” and similar expressions, or that events or conditions “will”, “could”, “may”, “might” or “should” occur. The forward-looking information in this release includes the anticipated completion of additional tranches of the private placement. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from forward-looking statements include regulatory actions, market prices and the continued availability of capital and financing, and general economic, business or market conditions. Investors are cautioned that such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management as of the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements should management’s beliefs, estimates, opinions, or other factors change.

FONT: XPyto Therapeutics Corp.

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