Lobe Sciences Ltd. Concludes $2.1 Million Private Placement

Lobe Sciences Ltd., a biopharmaceutical firm, has finalized a non-brokered private placement, raising approximately $2.1 million. The offering comprised 24,705,880 common shares priced at $0.085 each. Proceeds will support working capital, corporate initiatives, and advance the S-100 drug candidate for sickle cell disease treatment. A portion will fund subsidiary Applied Lipid Technologies, Inc., progressing the S-100 program towards clinical trials. The necessary active pharmaceutical ingredient has been secured.

The issued securities are subject to a four-month holding period per Canadian laws. They are not registered in the U.S. and not for sale there without applicable exemptions. This move marks a critical step in Lobe's strategic growth and focus on diseases with unmet medical needs, aligning with its subsidiary-driven approach.