Toronto, Ontario--(Newsfile Corp. - April 23, 2026) - Paragon Advanced Labs Inc. (TSXV: PALS) ("Paragon" or the "Company"), a leading provider of advanced geochemical and analytical laboratory services to the global mining industry, is pleased to announce the appointment of Laurentiu Fulea as Canadian Operations Manager.

Laurentiu brings more than 15 years of international experience in laboratory operations, analytical chemistry, and mining services, with a proven track record of scaling and optimizing complex, multi-site operations. His appointment comes at a pivotal time as Paragon continues to expand its footprint and enhance its operational capabilities across Canada and internationally.

In his new role, Laurentiu will be responsible for overseeing Paragon's Canadian laboratory operations, with a focus on driving operational efficiency, maintaining best-in-class quality standards, and supporting the company's growth strategy through disciplined execution and continuous improvement.

Prior to joining Paragon Advanced Labs, Laurentiu held senior leadership roles with a multi-national laboratory group, where he was responsible for overseeing operations across multiple laboratories in diverse jurisdictions. He led initiatives spanning safety, financial performance, staffing optimization, capital deployment, and quality assurance, consistently delivering improved productivity and strong operational outcomes.

Laurentiu's experience includes managing laboratory networks supporting major mining operations globally, with deep technical expertise across fire assay, ICP, AAS, XRF, and other advanced analytical techniques. He has demonstrated success in improving turnaround times, enhancing quality control systems, and building high-performing teams in demanding environments.

"Laurentiu's appointment strengthens our operational bench at a critical stage in Paragon's growth," said Peter Shippen, CEO of Paragon Advanced Labs. "His deep operational expertise, combined with his global experience managing complex laboratory networks, will be instrumental as we scale our platform and execute on our expansion plans. We are building a business defined by quality, speed, and reliability, and Laurentiu will play a key role in delivering on that vision."

Laurentiu holds a Bachelor of Science in Chemistry and Physics from Alexandru Ioan Cuza University and a Certificate in Chemical Analysis from Université du Québec à Montréal. He is a member of the Ordre des chimistes du Québec and is fluent in French, English, and Romanian.

"I am excited to join Paragon Advanced Labs during this phase of growth," said Laurentiu Fulea. "The Company's commitment to innovation and operational excellence presents a strong platform for expansion, and I look forward to contributing to the continued success and scalability of the business."

Shares for Debt

The Company further announce that it has completed the previously announced a shares-for-debt settlement (the "Debt Settlement"), as disclosed in its news release dated March 23, 2026.

Pursuant to the Debt Settlement, the Company has issued an aggregate of 80,000 common shares (the "Settlement Shares") at a deemed price of $3.00 per Settlement Share to settle $240,000 of outstanding indebtedness owing to Clarus Securities Inc. for advisory services rendered to the Company and completed on March 15, 2026.

The Settlement Shares will be subject to a statutory hold period until August 22, 2026 (4 months from issuance), in accordance with applicable securities laws and TSX Venture Exchange (the "Exchange") policies.

The Company has received conditional acceptance from the Exchange in respect of the Debt Settlement.

About Paragon Advanced Labs Inc.

Paragon Advanced Labs Inc. provides innovative analytical technologies to the global mining industry. By embracing new technology, the Company is addressing critical capacity bottlenecks in mineral assaying through the deployment of PhotonAssay™ technology and complementary analytical solutions. The Company delivers faster, more accurate, and cost-effective mineral analysis for mining operators worldwide.

Forward-looking Statements

This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on expectations, estimates and projections as of the date of this news release and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this release may include, but are not limited to, statements regarding the Company's plans, business objectives, strategy, financial or operational performance, exploration or development programs, future market conditions, and other future events or conditions.

Forward-looking statements are often identified by words such as "anticipate," "believe," "expect," "estimate," "intend," "may," "plan," "project," "should," "will," and similar expressions. These statements are not guarantees of future performance and involve risks and uncertainties, including those described in the Company's public filings available under its profile on SEDAR+. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/293957