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.

 

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

 

ABOUT LUVO MEDICAL TECHNOLOGIES INC.

Luvo Medical Technologies Inc. is a subsidiary of Clarion Medical Technologies Inc., a leading Canadian provider of medical equipment and consumables to aesthetic and vision providers in private clinics and hospitals.

ABOUT AEQUUS PHARMACEUTICALS INC.

Aequus Pharmaceuticals Inc. (TSX-V: AQS) is a specialty pharmaceutical company, with a focus on commercializing value-added products in specialty therapeutic areas in the Canadian market.

FORWARD-LOOKING STATEMENT DISCLAIMER

This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential” and similar expressions. Forward-looking statements are necessarily based on estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as the factors we believe are appropriate. Forward-looking statements include but are not limited to statements relating to the benefits of the transaction and the transfer of the Company’s listing to the NEX. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Aequus, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements. In making the forward-looking statements included in this release, the Company has made various material assumptions, including, but not limited to: obtaining regulatory approvals; general business and economic conditions; the Company’s ability to successfully out license or sell its current product and in-license or develop new products; the assumption that the Company’s current good relationships with third parties will be maintained; the availability of financing on reasonable terms; the Company’s ability to attract and retain skilled staff; market competition; the products and technology offered by the Company’s competitors; the impact of global events on the Company’s operations; and the Company’s ability to protect patents and proprietary rights. In evaluating forward looking statements, current and prospective shareholders should specifically consider various factors set out herein and under the heading “Risk Factors” in Aequus’ latest annual Management’s Discussion and Analysis, a copy of which is available on Aequus’ profile on SEDAR+ at www.sedarplus.ca and as otherwise disclosed from time to time on Aequus’ SEDAR+ profile. Should one or more of these risks or uncertainties, or a risk that is not currently known to us materialize, or should assumptions underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by applicable securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and are inherently uncertain. Accordingly, investors are cautioned not to put undue reliance on forward looking statements.

 

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

 

CONTACT INFORMATION

Aequus Investor Relations

Email: investors@aequuspharma.ca

Phone: 604-336-7906