Mr. Stefano Picone reports

CONAVI MEDICAL CORP. ANNOUNCES UPSIZE TO ITS PREVIOUSLY ANNOUNCED PUBLIC OFFERING

Conavi Medical Corp. has provided an update in respect of its previously announced public offering. The company expects that the offering will now proceed as an offering of common shares of the company (or prefinanced common share purchase warrants of the company in lieu of common shares). The number of securities to be distributed, the price of each security and the size of the offering will be determined by negotiation between the company and the agent (as defined below) in the context of the market with final terms to be determined at the time of pricing.

The company filed an amended and restated preliminary short form prospectus (the A&R prospectus) on March 20, 2025, with the securities regulatory authorities in the provinces of Alberta, British Columbia and Ontario, amending and restating the preliminary short form prospectus filed on Jan. 29, 2025.

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 510(k) clearance application to the United States Food and Drug Administration in Q3 of calendar 2025. The company also intends to use the net proceeds for working capital and other general corporate purposes.

The offering is expected to be completed pursuant to the terms and conditions of an agency agreement to be entered into between the company and Bloom Burton Securities Inc.

The offering is expected to close on or about March 31, 2025, or such other date as may be mutually agreed to by the company and the agent. The offering is subject to the company and the agent entering into the agency agreement and 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 securities 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.

Access to the A&R prospectus and any amendments to such document will be provided in accordance with securities legislation relating to procedures for providing access to a short-form prospectus and any amendment thereto. The A&R prospectus is accessible on SEDAR+. Alternatively, an electronic or paper copy of the A&R prospectus and any amendment to such document may be obtained without charge, from the agent by e-mail at ECM@bloomburton.com, by telephone at 416-640-7585 or by providing the contact with an e-mail address or address, as applicable. The A&R prospectus contains important, detailed information about the company and the offering. Prospective investors should read the A&R prospectus before making an investment decision.

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 U.S. 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.