Verisante Technology, Inc. Announces Proposed RTO with SunRegen Healthcare AG

Vancouver, BC – August 13, 2024 – Verisante Technology, Inc. (TSX-V:VER.H) has announced its plan to acquire SunRegen Healthcare AG through a Reverse Takeover (RTO). Verisante will consolidate its common shares on a 10 for 1 basis and issue new shares to SunRegen shareholders, giving them 90% ownership of the resulting company.

SunRegen, a Swiss pharmaceutical firm, focuses on neurodegenerative diseases. Their lead compound, SBC003, targets neurological issues, including Retinitis Pigmentosa (RP). Initial FDA approval pursuits are aimed at treating RP before expanding to other conditions. SunRegen has several patents for SBC003.

Approximately $6.3 million has already been invested in the development of SBC003. Verisante aims to raise additional capital to advance SBC003 to FDA Phase II trials. The transaction requires board approvals, due diligence, and regulatory acceptance.

The RTO is expected to transform SunRegen into a wholly-owned subsidiary of Verisante. The new board will include four members nominated by SunRegen. There are no finder's fees for the RTO, though fees related to financing will be disclosed later.

Trading of Verisante shares remains halted until conditions are met. Completion is subject to Exchange acceptance and other regulatory approvals. Verisante urges caution regarding forward-looking statements and emphasizes the speculative nature of investments.