Mr. Scott Sneddon reports

SHARP THERAPEUTICS ANNOUNCES CLOSING OF THIRD TRANCHE OF UNSECURED CONVERTIBLE NOTE OFFERING

Sharp Therapeutics Corp. has closed the third tranche of its previously announced non-brokered private placement for unsecured convertible notes of the company, in the principal amount of $1,000 (U.S.) per note. Pursuant to completing the third tranche, the company issued a total of 200 notes for aggregate gross proceeds of approximately $200,000 (U.S.). With the closing of the third tranche, the outstanding amount committed to the company pursuant to the note offering is now 400 notes for aggregate gross proceeds of approximately $400,000 (U.S.), which are to be issued in two subsequent tranches on or about April 10, 2026, and April 20, 2026. The net proceeds of the note offering will be used for general working capital purposes.

The conditional approval for the note offering originally provided by the TSX Venture Exchange indicated a deadline to complete the note offering by March 20, 2026. At the request of the company, the TSX-V has granted a 30-day extension to the conditional approval, extending the deadline to complete the note offering to April 20, 2026. The extension was requested to allow for the orderly completion of the remaining tranches of the note offering and to accommodate investor timing requirements. The company confirms that all other terms and conditions of the original TSX-V conditional approval remain unchanged.

Each note shall be convertible at the option of the holder into common shares in the capital of the company at a conversion price of $2 (U.S.) per conversion share, at any time prior to the date that is 12 months following the applicable closing date.

Each note shall bear interest at a rate of 6 per cent per annum, calculated as simple interest accrued monthly in arrears. Interest on the principal amount outstanding under each note shall accrue during the period commencing on the applicable closing date and shall be payable by the company in cash on the maturity date.

STX Partners LLC participated in the third tranche and is an insider of the company. STX subscribed for a total of 200 notes, for a total purchase price of $200,000. The participation of the insider in the third tranche constitutes 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 valuation 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).

The notes were offered by way of private placement in each of the provinces and territories of Canada pursuant to applicable exemptions from the prospectus requirements under applicable Canadian securities laws. The notes were also offered for sale in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in those other jurisdictions outside of Canada and the United States provided that no prospectus filing or comparable obligation arises in such other jurisdiction.

All notes issued will be subject to a four-month-plus-one-day hold period from the date of issuance and subject to TSX-V approval.

No bonus, finder's fee, commission or other compensation was paid in connection with the note offering.

The company also announces that its previously announced private placement of common shares has been postponed. The company will provide further details regarding the timing and terms of the common share offering in due course.

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.