Ms. Joanne McClusky reports

PASCAL BIOSCIENCES PROPOSES DE-LISTING ON THE TSX.V AND LISTING ON THE CSE

On Dec. 6, 2022, Pascal Biosciences Inc. proposed a reorganization which includes: shares for debt, a private placement of $1.5-million, arm's-length acquisition of a new asset, name change and consolidation on the basis of one new share for five old shares, and a new board of directors and chief executive officer.

The TSX Venture Exchange has reviewed the proposed asset acquisition and is unable to accept it because of their cannabis policy. The company has decided to delist from the exchange (subject to the approval of the majority of the minority shareholders) and complete the reorganization on the Canadian Securities Exchange.

An application will be filed by the company to have its shares listed for trading on the CSE. Listing will be subject to the company fulfilling all the listing requirements of the CSE, including, without limitation, the distribution of the shares to a minimum number of public shareholders and the company meeting certain financial and other requirements.

About Pascal Biosciences Inc.

Pascal has been a biotechnology company targeting innovative therapies for cancer, including targeted therapies for acute lymphoblastic leukemia and cannabinoid-based therapeutics. Pascal's leading portfolio also comprises a small molecule therapeutic, PAS-403, that is advancing into clinical trials for the treatment of glioblastoma, and PAS-393, an immuno-stimulatory cannabinoid to be used in combination with checkpoint inhibitor therapy. The company will cease investment in its biotechnology assets but will maintain all patents, and explore options for licensing and possible divestment.

We seek Safe Harbor.