Lobe Sciences Completes Private Placement and Provides Corporate Update

Lobe Sciences Ltd. has finalized a non-brokered private placement of 14,615,384 common shares, raising approximately $950,000. The company plans to allocate these funds toward working capital and general corporate activities, with a focus on advancing its S-100 drug candidate for treating sickle cell disease. Part of the proceeds will support Applied Lipid Technologies, Inc.'s efforts to push the S-100 program toward human clinical trials.

These funds will also help procure necessary active pharmaceutical ingredients. However, all securities issued in connection with the private placement are subject to a four-month hold period under Canadian securities laws. No securities sold in this placement will be registered under the United States Securities Act of 1933.