Mr. Zachary Goldenberg reports

VIMY PHARMACEUTICALS ANNOUNCES CLOSING OF SECOND TRANCHE OF BROKERED PRIVATE PLACEMENT FOR AGGREGATE PROCEEDS OF $14.5 MILLION; SHAREHOLDER APPROVAL FOR GO-PUBLIC TRANSACTION

Further to Vimy Pharmaceuticals Inc. and Harmony Acquisitions Corp.'s joint news release dated Sept. 28, 2026, Vimy has completed the second tranche of its previously announced best efforts brokered private placement through the issuance of 827,533 subscription receipts of the company at a price of $3 per subscription receipt for gross proceeds of $2,482,599. Together with the first tranche, which closed on Sept. 28, 2026, the company has raised, in aggregate, total gross proceeds of $14,539,062 through the issuance of 4,846,354 subscription receipts. Beacon Securities Ltd. acted as lead agent and sole bookrunner on behalf of a syndicate of agents that included Haywood Securities Inc., Leede Financial Inc. and Research Capital Corp. in connection with the offering.

As previously announced, the company and Harmony have entered into a definitive agreement dated Sept. 28, 2026, in respect of their business combination transaction, which will ultimately constitute a reverse takeover of Harmony. On Oct. 19, 2026, the shareholders of Harmony approved all resolutions put before them at the annual and special meeting of the shareholders of Harmony held in connection with the transaction. Subsequently, on the date hereof, the shareholders of Vimy Pharma approved the transaction and certain related matters.

The offering

The subscription receipts have been issued pursuant to, and are governed by, the terms and conditions of a subscription receipt agreement entered into among the company, Harmony, the lead agent and Odyssey Trust Company, as subscription receipt agent. Upon satisfaction of the escrow release conditions outlined in the subscription receipt agreement, each subscription receipt will convert, without payment of any additional consideration and without further action on the part of the holder, into one common share in the capital of the company and the funds held in escrow, net of the escrowed portion of the agents' fees and expenses, will be released to the company. If the escrow release conditions are not satisfied or waived by 5 p.m. Toronto time) on the date that is 120 days following the closing of the first tranche (subject to extension by up to 30 days by agreement between the company and the lead agent), or if prior to such time the company advises the agents or announces publicly that it does not intend to satisfy the escrow release conditions, the subscription receipts will be cancelled and the funds held in escrow, together with any interest earned thereon, will be returned by the subscription receipt agent to subscribers on a pro rata basis.

In connection with the second tranche, the agents earned a cash commission equal to 6.0 per cent of the gross proceeds of the second tranche, reduced to 3.0 per cent in respect of certain investors on a mutually agreed president's list, and the company issued to the agents compensation options equal to 6.0 per cent of the number of subscription receipts sold under the second tranche, also reduced to 3.0 per cent in respect of such president's list investors. Each compensation option is exercisable into one Vimy Pharma share at a price of $3 per Vimy Pharma share for a period of 24 months from the release date. Fifty per cent of the cash commission was paid on the closing of the second tranche and the remaining 50 per cent will be payable on the release date.

The company intends to use the net proceeds of the offering to advance research and development of new products in the company's portfolio of generic pharmaceutical products, including its generic semaglutide injection program, to accelerate entry into international markets, to support direct-to-consumer advertising, to build the VimyDirect on-line pharmacy platform, to support Canadian manufacturing of preapproval inventory, regulatory and commercialization activities, and for transaction expenses, working capital and general corporate purposes of the resulting issuer (as defined below).

Vimy Pharma is not a reporting issuer in any province or territory of Canada; its securities are not listed on any stock exchange in Canada and there is currently no public market for its securities. The subscription receipts, and any securities of Vimy Pharma issuable upon the exchange thereof, will not be transferable under the laws of Canada, except pursuant to applicable statutory exemptions and subject to any control person distribution restrictions, until the date that is four months and a day after the date Vimy Pharma becomes a reporting issuer in any province or territory of Canada, in accordance with National Instrument 45-102, Resale of Securities.

On completion of the transaction, each Vimy Pharma share will be exchanged for one common share of the resulting issuer and the compensation options will be exchanged for options to purchase resulting issuer shares having the same exercise price and expiry date as the compensation options.

The transaction

Upon completion of the transaction, Harmony is expected to change its name to Vimy Pharmaceuticals Corp. (the resulting issuer) and the resulting issuer shares are expected to trade on the TSX Venture Exchange under the trading symbol VIMY as a Tier 2 issuer.

On the date hereof, the shareholders of Vimy Pharma approved the transaction and certain related matters.

In addition, on Oct. 19, 2026, all resolutions put before the Harmony shareholders at the Harmony meeting were approved. Among others, the following matters relating to the transaction were approved by Harmony's shareholders:

• The following five nominees were elected as directors of the resulting issuer, each to hold office from the completion of the transaction until the next annual meeting of shareholders or until their successors are elected or appointed: David Suchon, Farris Smith, Christopher Burkett, Riccardo Trecroce and Darryl Firsten.
• Shareholders authorized and approved the consolidation of Harmony's issued and outstanding common shares on the basis of one postconsolidation Harmony share for 49.6104 preconsolidation Harmony shares.
• Baker Tilly HMA LLP was appointed as the auditor of the resulting issuer, with the directors authorized to fix the auditor's remuneration, such appointment not to take effect until immediately following the completion of the transaction.
• The resulting issuer's new omnibus equity incentive plan was approved, to become effective upon completion of the transaction.
• Harmony was authorized to pay a finder's fee in connection with the transaction.

Each of the foregoing matters is described in greater detail in the management information circular of Harmony prepared in connection with the meeting, which is available on Harmony's SEDAR+ profile.

The transaction is expected to be completed in the coming weeks. A copy of the definitive agreement has been filed on Harmony's SEDAR+ profile.

For further information on the transaction, please see the definitive agreement and the joint news releases dated Aug. 6, 2026, and Sept. 28, 2026, all of which are available on Harmony's SEDAR+ profile. In connection with the transaction and pursuant to TSX Venture Exchange requirements, the company shall file a filing statement on SEDAR+ in due course, which will contain additional details regarding the offering, the transaction, Vimy Pharma, Harmony and the resulting issuer.

Overview of Vimy Pharma

Vimy Pharma is a private company incorporated pursuant to the Business Corporations Act (Ontario) on July 19, 2024. Vimy Pharma is a Canadian pharmaceutical company focused on improving access to affordable medicines while supporting domestic pharmaceutical manufacturing capacity and long-term Canadian supply resilience. Vimy Pharma is advancing a portfolio of essential medicines as generic pharmaceutical products intended to support patients, health care systems and Canada's life sciences sector.

A strategic priority for the company is expanding access to therapies through the development of generic alternatives to popular medicines. By combining domestic production with cost-efficient manufacturing and regulatory expertise, Vimy Pharma seeks to provide affordable treatment options while contributing to Canada's pharmaceutical sovereignty.

Earlier this year, Vimy Pharma completed one of its development programs and filed an abbreviated new drug submission (ANDS) with Health Canada, which has been found acceptable for review, for a generic version of Ozempic (semaglutide injection), a glucagon-like peptide-1 (GLP-1) receptor agonist indicated for the treatment of type 2 diabetes. Vimy Pharma has also filed an ANDS with Health Canada for a generic version of Wegovy (semaglutide injection), a GLP-1 receptor agonist indicated for weight management. Ozempic has been the highest-earning prescription medicine in Canada for the past four years with combined sales of semaglutide injection medicines in Canada totalling $3.5-billion in 2025, growing at 31 per cent over the previous year (1). Vimy Pharma undertook its development work in Canada and will carry out its commercial production domestically, with Canadian partners. Additionally, Vimy Pharma has established partnerships to support the many large and growing international markets for injectable semaglutide.

Vimy Pharma is led by an experienced management team, including former executives from Novo Nordisk, with broader organizational expertise spanning pharmaceutical development, manufacturing, regulatory affairs, commercialization and capital markets. Vimy Pharma is committed to long-term value creation through disciplined execution, innovation and the development of a sustainable domestic pharmaceutical ecosystem that serves patients, health care providers and government partners, and supports Canadian pharmaceutical supply resilience and access to medicines.

About Harmony Acquisitions Corp.

Harmony was incorporated under the Business Corporations Act (British Columbia) on May 7, 2021, and is a capital pool company listed on the TSX Venture Exchange.

(1) Chris Hannay, "Canada will be a launching pad in the global race for generic Ozempic," The Globe and Mail (Jan. 30, 2026; updated Jan. 31, 2026), on-line.

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