LONDON, ONTARIO – TheNewswire - April 29, 2022 – Sernova Corp. (TSXV:SVA)(OTC:SEOVF)(FSE:PSH), a clinical stage regenerative medicine company focused on developing a potential ‘functional cure’ for type 1 diabetes (T1D) and other chronic diseases, is pleased to announce results from its Annual General Meeting of Shareholders (the “AGM”) held virtually via live audio webcast, on April 28, 2022. Shareholders voted overwhelmingly in favour of all management resolutions proposed in the Company’s Information Circular.

The following resolutions were proposed and approved at the AGM:

• The re-election of the following directors for the ensuing year: Frank Holler, James Parsons, Jeffrey Bacha, Deborah Brown, Dr. Mohammad Azab and Dr. Philip Toleikis. 

• The appointment of Davidson Company LLP, as auditors of the Company until the next annual meeting and the authorization of the directors of the Company to fix the remuneration to be paid to the auditors. 

“I sincerely appreciate our shareholders ongoing support for Sernova.  The Board and management are very excited about the immediate and long-term prospects of the Company as we expand our therapeutic applications, broaden our capital markets following and execute on a number of strategic initiatives,” said Dr. Philip Toleikis, President & CEO of Sernova Corp.

Management’s corporate update to shareholders will be available on Sernova’s website next week at www.sernova.com.

For further information contact:

Sernova Corp

Christopher Barnes

Tel: (519) 858-5126

christopher.barnes@sernova.com

www.sernova.com

Corey Davis, Ph.D.

LifeScience Advisors, LLC

cdavis@lifesciadvisors.com

Tel: 212-915-2577

ABOUT SERNOVA

Sernova is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e., human donor cells, corrected human cells and stem-cell derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin- dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com

ABOUT SERNOVA’S CELL POUCH

The Cell Pouch is a novel, proprietary, scalable, implantable macro-encapsulation device designed for the long- term survival and function of therapeutic cells. The device is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells which then release proteins and hormones as required to treat disease. The device along with therapeutic cells has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans.


FORWARD-LOOKING INFORMATION

This release may contain 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”, “would”, “may”, “could” or “should” occur. Although Sernova believes 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 forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Sernova’s management on the date such statements were made, which include our beliefs about the conduct and outcome of clinical trials. The information disclosed represents results from one patient and may not be representative of all study patients or of the final study results. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.