AQSZF

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

VANCOUVER, British Columbia – TheNewswire - March 31, 2026 – Aequus Pharmaceuticals Inc. (TSX-V: AQS) (“ Aequus ” or the “ Company ”), a specialty pharmaceutical company, today announced that it has completed the previously announced sale of its ZIMED® PF product to Luvo Medical Technologies Ltd. (“ Luvo ”) for aggregate consideration of approximately $531,693 (the “ Transaction ”). As the Transaction constituted the sale of all or substantially all of the assets of the Company pursuant to Section 301 of the Business Corporations Act (British Columbia), the Transaction was approved by the Company's shareholders at the Annual General and Special Meeting held on November 21, 2025 (the “ Meeting ”). For additional details regarding the Transaction, please refer to the Company's news release dated May 23, 2025 and the information circular dated October 20, 2025 related to the Meeting (the “ Information Circular ”).   The Transaction was completed pursuant to the asset purchase agreement dated May 22, 2025 between Aequus and Luvo (the “ Purchase Agreement ”) as amended pursuant to an amending agreement dated March 30, 2026. The Purchase Agreement was amended to, among other things, replace the ongoing 6% royalty obligation originally contemplated thereby with a one-time lump sum royalty payment in an amount equal to approximately $131,693, thereby increasing the aggregate consideration payable to the Company from approximately $400,000 to $531,693. As there are no further ongoing royalty obligations, the Company will no longer be pursuing the assignment of the royalty to Douglas Janzen, the Chief Executive Officer of the Company, as described in the Information Circular.