File: '\\swfile\EmailIn\20260612 182229 Attachment Tim Nye - Press Release Re Early Warning Report for Ionik Corporation.docx'

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Early Warning Report Filed Pursuant to National Instrument 62-104 and National Instrument 62-103 Acquisition of Securities of Ionik Corporation

St. James, Barbados - June 12, 2026 - This press release is being disseminated as required by National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103") in connection with the acquisition of securities of Ionik Corporation (the "Company") by Timothy Nye (the "Acquiror").

The Acquiror announces that on June 11, 2026, the Acquiror acquired an aggregate of 63,088,661 common shares (the "Shares") of the Company pursuant to the automatic conversion of five convertible debentures issued to the Acquiror in connection with the reorganization of existing debt obligations of the Company and certain of its subsidiaries (the "Debt Reorganization"). The Shares were issued at conversion prices of US$0.109 (C$0.152) and US$0.146 (C$0.203) per Share in consideration of the settlement of an aggregate of US$7,493,021 (approximately C$10,437,778) of outstanding indebtedness. The Shares were issued directly by the Company from treasury, no market was involved and no cash consideration was paid. This acquisition resulted in the Acquiror's beneficial ownership exceeding 10% of the issued and outstanding Shares, thereby triggering the early warning requirements.

Immediately prior to the Debt Reorganization, the Acquiror held beneficial ownership of, or control or direction over 23,993,911 Shares, representing approximately 6.65% of the 360,955,780 issued and outstanding Shares on a non-diluted basis.

Immediately following the Debt Reorganization, the Acquiror holds beneficial ownership of, or control or direction over, 87,082,572 Shares, representing approximately 14.85% of the 586,587,470 issued and outstanding Shares on a non-diluted basis, an increase of approximately 8.20 percentage points.

The Shares were acquired pursuant to the Debt Reorganization for investment purposes. The Acquiror currently has no other plans or intentions that relate to, or would result in, the matters listed in clauses (a) to (k) of item 5 of Form 62-103F1. The Acquiror may, from time to time, acquire additional securities of the Company, dispose of some or all of the existing or additional securities he holds, or may continue to hold his current position, depending on market conditions, the business and prospects of the Company and other relevant factors, subject in each case to applicable securities law.

A copy of the Early Warning Report (Form 62-103F1) filed by the Acquiror in connection with the Debt Reorganization will be available under the Company's profile on SEDAR+ at www.sedarplus.ca. For further information or to obtain a copy of the Early Warning Report, please contact Jeff Collins, CFO of the Company, at (416) 583-5918. The Company's head office is located at 1 University Avenue, 3rd Floor, Toronto, Ontario M5J 2P1.