Mr. William Ollerhead reports

CUSPIS CAPITAL III LTD. ANNOUNCES FILING OF FILING STATEMENT WITH RESPECT TO ITS QUALIFYING TRANSACTION

Further to Cuspis Capital III Ltd.'s news release of Dec. 22, 2023, regarding the receipt of conditional acceptance from the TSX Venture Exchange in respect of its previously announced qualifying transaction pursuant to Policy 2.4 -- Capital Pool Companies with Cytophage Technologies Inc., the corporation has filed a filing statement dated Jan. 30, 2024, prepared in connection with the transaction on the corporation's SEDAR+ profile. Following the completion of the transaction, the corporation (the resulting issuer) will carry on the business of Cytophage and change its name to Cytophage Technologies Ltd.

The completion of the transaction is subject to a number of conditions, including, but not limited to, receipt of all required regulatory approvals, including final approval of the TSX-V and satisfaction of other customary closing conditions. Assuming all conditions are satisfied, closing of the transaction is expected to occur on or about Feb. 2, 2024, or such other date as may be determined. Upon completion of the proposed qualifying transaction, the corporation is expected to meet all of the minimum listing requirements of the exchange for a Tier 2 technology issuer.

Trading of the corporation's shares will remain halted until such time as the TSX-V may determine, having regard to the completion of certain requirements pursuant to the CPC policy.

Further details of the transaction will follow in future news releases.

We seek Safe Harbor.