Mr. Stefano Picone reports

CONAVI MEDICAL CORP. ANNOUNCES PROPOSED PUBLIC OFFERING OF UNITS

Conavi Medical Corp. has filed a preliminary short form prospectus with the securities regulatory authorities in the provinces of British Columbia, Alberta and Ontario in connection with an offering of units of the company, with each unit consisting of one common share and one common share purchase warrant. The offering is expected to be completed on a commercially reasonable efforts agency basis pursuant to an agency agreement to be entered into between the company and Bloom Burton Securities Inc. as lead agent and certain other agents as may be determined. The number of units to be distributed, the price of each unit and the exercise price and the expiry date of each warrant will be determined by negotiation between the company and Bloom Burton in the context of the market with final terms to be determined at the time of pricing.

The company intends to use the net proceeds from the offering to advance and complete the development and preclinical testing of its Novasight 3.0 technology, with the goal of submitting a 510(k) clearance application to the United States Food and Drug Administration by August of 2025. The company also intends to use the net proceeds for working capital and other general corporate purposes.

The company will pay to the agents a cash fee equal to 7.0 per cent of the gross proceeds raised under the offering, and grant the agents compensation options equal to 7.0 per cent of the number of units issued under the offering. Each compensation option shall entitle an agent to buy one common share at the same price as the price per unit under the offering. The compensation options shall be exercisable until that date which is 24 months following the closing date (as defined below). The agents will receive a reduced cash commission of 3.5 per cent and no compensation options in respect of units sold to certain purchasers on a president's list to be agreed to between the company and Bloom Burton.

The offering is expected to close on or about Feb. 27, 2025, or such later date as may be agreed upon by the company and Bloom Burton. The offering is subject to the company and the agents entering into a definitive agency agreement, and subject to the satisfaction of customary closing conditions, including the receipt of all necessary regulatory and stock exchange approvals, including approval of the TSX Venture Exchange.

In addition, the units are anticipated to be offered by way of private placement in certain jurisdictions outside of Canada pursuant to and in compliance with applicable securities laws.

For further details with respect to the offering, please see the preliminary short form prospectus, a copy of which is available on SEDAR+.

About Conavi Medical Corp.

Conavi Medical is focused on designing, manufacturing and marketing imaging technologies to guide common minimally invasive cardiovascular procedures. Its patented Novasight Hybrid system is the first system to combine both intravascular ultrasound (IVUS) and optical coherence tomography (OCT) to enable simultaneous and co-registered imaging of coronary arteries. The Novasight Hybrid system has 510(k) clearance from the United States Food and Drug Administration, and regulatory approval for clinical use from Health Canada, China's National Medical Products Administration, and Japan's Ministry of Health, Labor and Welfare.

We seek Safe Harbor.