Mr. Ehsan Agahi reports
ILLUMISOFT APPOINTS EHSAN AGAHI AS CEO, COMMENCES TRADING ON OTCQB VENTURE MARKET, ANNOUNCES SHARES FOR DEBT SETTLEMENT
Ehsan Agahi, currently executive chairman of Illumisoft Lighting Corp., has been appointed chief executive officer, effective Aug. 19, 2026. Mr. Agahi will continue to serve as chairman of the board.
As executive chairman since the completion of the company's qualifying transaction, Mr. Agahi has been closely involved in Illumisoft's strategic direction, corporate strategy, financing, technology development, partnerships, business development and commercialization. His appointment as CEO expands that role, with Mr. Agahi assuming direct responsibility for the company's operating priorities and execution strategy while continuing to lead the board as chairman.
The change comes as Illumisoft advances several significant initiatives. Immediate priorities include:
- Accelerating development of Illumisoft's SaniLux 216-nanometre far UVC platform;
- Advancing commercialization of its SaniLume upper-room germicidal UV technology;
- Expanding its research and development capabilities;
- Strengthening commercial execution across its existing product portfolio; and
- Developing relationships with strategic and commercial partners in Canada and internationally.
"Taking on the CEO role is about execution," said Mr. Agahi. "Illumisoft has a germicidal UV product in the market today, a far UVC platform in development and partners who have chosen to build alongside us. The work ahead is to turn that foundation into commercial scale. I am grateful to our shareholders for their support and to our team for the work that brought us here. That support deserves execution in return."
As part of the change, Brett Nicholds will move from chief executive officer to senior strategic adviser, where he will continue to provide strategic guidance and support key company initiatives. Mr. Nicholds remains a director of the company. Illumisoft thanks Mr. Nicholds for his leadership and contributions to the company as CEO and looks forward to his continued involvement as the company advances its technology development and commercialization programs.
The company will continue strengthening its operating infrastructure as its technology programs progress, with an increased emphasis on execution, accountability, commercialization and disciplined allocation of resources.
Illumisoft believes the combination of its existing commercial platform, SaniLume technology and developing SaniLux far UVC platform provides the company with opportunities across health care, commercial, transportation, hospitality and other built environment markets.
Further updates regarding the company's development programs, commercialization initiatives and strategic activities are expected to be provided as material milestones are achieved.
OTCQB trading
The company is also pleased to announce that its common shares have been approved to commence trading on the OTCQB Venture Market in the United States under the trading symbol FUVCF, effective Aug. 19, 2026.
The company's common shares will continue to trade on the TSX Venture Exchange under the symbol UVC.
The commencement of trading on the OTCQB is intended to provide greater accessibility for U.S. investors and increase the company's visibility within the U.S. capital markets as Illumisoft continues to advance its technology development, commercialization and strategic initiatives.
"Commencing trading on OTCQB is another step in expanding Illumisoft's access to the U.S. capital markets," Mr. Agahi added. "It provides a more accessible pathway for U.S. investors to participate as we continue to build the business."
In connection with the OTCQB listing, Illumisoft has also submitted an application for full-service Depository Trust Company eligibility. Once granted, DTC eligibility will allow FUVCF shares to be held and transferred electronically between U.S. brokerage accounts, complementing the role played by the Canadian Depository for Securities in Canada and reducing the cost and friction of cross-border trading and settlement. The company will issue a further news release upon confirmation that DTC eligibility has been obtained, although there can be no assurance eligibility will be obtained.
Shares-for-debt settlement
Illumisoft further announces that it has entered into shares-for-debt settlement agreements pursuant to which it proposes to settle an aggregate of $413,764.12 of outstanding indebtedness through the issuance of 646,506 common shares of the company at a deemed price of 64 cents per common share.
The indebtedness being settled consists of $203,764.12 owing pursuant to two promissory notes and $210,000 owing in connection with consulting services.
No warrants will be issued in connection with the shares-for-debt settlement.
The creditors participating in the shares-for-debt settlement are arm's-length parties to the company. The settlement will not result in the creation of a new control person of the company, and shareholder approval is not required pursuant to applicable TSX Venture Exchange policies.
The issuance of the settlement shares remains subject to the acceptance of the TSX-V. The settlement shares, if issued, will be subject to applicable resale restrictions and statutory hold periods in accordance with applicable securities laws and TSX-V policies.
About Illumisoft Lighting Corp.
Illumisoft is a photonic disinfection and lighting technology company focused on the design, development and commercialization of advanced ultraviolet germicidal solutions for health care, commercial, transportation, hospitality and other built environment markets. The company's product portfolio includes SaniLume, an upper-room germicidal UV platform, and SaniLux, a 216-nanometre far UVC platform, and ECOWing LED commercial lighting. Illumisoft trades on the TSX-V under the symbol UVC and on the OTCQB Venture Market under the symbol FUVCF.
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