Dr. Scott Sneddon reports

SHARP THERAPEUTICS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT AND PROVIDES OPERATIONAL UPDATE

Sharp Therapeutics Corp. is arranging a non-brokered private placement to raise gross proceeds of up to $1,365,000. The offering will consist of common shares in the capital of the company priced at not less than 91 cents per common share. The company expects the offering to close in Q3 2026. The net proceeds of the offering will be used for general working capital purposes.

Newlin Investment Company 1 LLC, an entity wholly owned by William R. Newlin, intends to subscribe for approximately $200,000 (U.S.) as part of the offering on the same terms as all other subscribers to the offering. As a director and Chairman of the company, Mr. Newlin is considered an insider.

The participation of the company's insiders in the offering will constitute a related party transaction for the purposes of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is exempt from the requirements to obtain a formal evaluation or minority shareholder approval in connection with the insider participation in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities issued, nor the fair market value of the consideration for the securities issued will exceed 25 per cent of the company's market capitalization (as calculated in accordance with MI 61-101).

All securities to be issued will be subject to a four-month hold period from the date of issuance and subject to TSX Venture Exchange approval.

Operational update

The company has elected to advance an alternative lead candidate in its lead program. The company believes this decision delays its need for certain capital by approximately six to 12 months and reduces the amount of capital the company requires in the near term relative to its previously contemplated financing plans.

Considering the lead program update and the resulting reduction in near-term capital requirements, the company and STX Partners (STX) have mutually agreed to terminate the previously announced letter agreement relating to a proposed financing of up to approximately $10-million (U.S.), together with the related conditional share purchase commitment from STX.

About Sharp Therapeutics Corp.

Sharp Therapeutics is a preclinical-stage company developing first-choice small-molecule therapeutics for genetic diseases. The company's discovery platform combines novel high-throughput screening technologies, with compound libraries computational optimized based on the physics and biology of cellular trafficking defects and allosteric activation of proteins. The platform produces small molecule compounds that restore activity in mutated proteins giving the potential to treat genetic disorders with conventional pill-based medicines.

We seek Safe Harbor.