Mr. Chris Dallin reports

ASEP MEDICAL ANNOUNCES CEASE TRADE ORDER

On May 6, 2025, ASEP Medical Holdings Inc.'s principal regulator, the British Columbia Securities Commission, issued a failure-to-file cease trade order (FFCTO), in accordance with Multilateral Instrument 11-103, Failure-to-File Cease Trade Orders in Multiple Jurisdictions. As a result of the FFCTO, the Canadian Securities Exchange has suspended trading in the company's securities.

The FFCTO was issued because of the company's delay in filing its audited annual financial statements and accompanying management's discussion and analysis for the fiscal year ended Dec. 31, 2024, which were due on April 30, 2025, in accordance with Canadian securities laws.

The company regrets this delay in filing and the inconvenience to shareholders. ASEP management is working with the company's auditor to complete the annual filings as soon as possible. The FFCTO will remain in place until such time as the annual filings and all continuous disclosure requirements have been filed, and the company receives an order from the BCSC revoking the FFCTO. The company will make further announcements with respect to the status of the annual filings and the FFCTO as and when appropriate.

The company continues to operate normally and does not expect any interruption to its operations during the FFCTO.

About ASEP Medical Holdings Inc.

ASEP is dedicated to addressing the global issue of antibiotic failure by developing novel solutions for significant unmet medical needs in human medicine. The company is a consolidation of three existing private companies, all with technology in advanced development: Sepset Biosciences Inc. (proprietary diagnostic tools to enable the early and timely identification of sepsis), ABT Innovations Inc. (broad-spectrum therapeutic agents to address multidrug-resistant biofilm infections) and SafeCoat Medical Inc. (an anti-bacterial peptide medical device coating technology).

Sepset Biosciences is in the final stages of preparation for clinical studies and commercialization of an in vitro diagnostic test that involves a patient gene expression signature that helps assess the development of severe sepsis, one of the significant diseases leading to antibiotic failure since antibiotics are the primary initial treatment for sepsis. Sepsis was responsible for nearly 20 per cent of all deaths on the planet in 2017 and essentially all deaths due to COVID-19 and other pandemics. The SepsetER test is a blood-based gene expression assay that is straightforward to implement, and results are obtained about an hour after taking a blood sample in the emergency room or intensive care unit. This proprietary diagnostic technology differs from current diagnostic tests, enabling the risk assessment for progression to severe sepsis within approximately 60 minutes of initiating the test. Bacterial culture, the gold standard, provides results after approximately 15 hours but can be as long as three. ASEP believes its test will enable critical early decisions to be made by physicians regarding appropriate therapies and thus reduce overall morbidity and mortality due to sepsis.

ABT Innovations' peptide technology covers a broad range of therapeutic applications, including bacterial biofilm infections (dental, wound, sinusitis, skin, medical device infections, chronic infections, lung, bladder, ear, nose and throat, and orthopedic), anti-inflammatories, anti-infective immune modulators and vaccine adjuvants. The company is in the preclinical development phase with promising data for the first three indications.

SafeCoat Medical's technology encompasses anti-fouling self-assembling polymers combined with conjugated antimicrobial peptides, which can be applied to various surfaces as anti-microbial and anti-fouling coatings. In particular, the invention relates to coatings that may be applied to multiple medical devices and implants, and feasibility has been demonstrated in animal models. The company's expertise also encompasses the methods for manufacturing and applying these anti-bacterial coatings.

We seek Safe Harbor.