Dr. Steven Theriault reports

CYTOPHAGE ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Cytophage Technologies Ltd. has arranged a non-brokered private placement of up to five million units at 20 cents per unit for gross proceeds of up to $1-million. The company reserves the right to increase the size of the offering by up to an additional $500,000 through the sale of up to 2.5 million additional units.

Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share of the company at a price of 40 cents per Warrant share, for a period of 24 months from the date of issuance. Cytophage may accelerate the expiry of the warrants if the volume-weighted average trading price of its common shares on the TSX Venture Exchange equals or exceeds 60 cents for a period of 10 consecutive trading days. In the event that Cytophage exercises the acceleration right, it will do so by providing notice to all holders of warrants.

The net proceeds of the offering will be used by the company to advance its cutting-edge phage technology in human health and animal health and for food security as well as for general corporate purposes.

Cytophage has received commitments from its directors and officers to subscribe for approximately one million units for gross proceeds of approximately $2 00,000. The company anticipates closing the offering in multiple tranches. Pending all regulatory approvals from the TSX-V, the company expects to close the first tranche of the offering on or about May 22, 2025.

Cytophage chief executive officer Dr. Steven Theriault commented, "I am proud of the investment commitment we received by our board and officers for this lead order, and we are looking forward to continuing to forge ahead with Cytophage's product development, especially through the recently announced European poultry trials."

The company may pay finders' fees of up to 7 per cent of gross proceeds raised and issue warrants, on the same terms as the warrants forming part of the units, of up to 7 per cent of the number of units sold to investors, to qualified non-related parties, in accordance with the policies of the exchange. All securities issued under the offering, including warrant shares issuable on exercise of the warrants, will be subject to a hold period expiring four months and one day after issuance, in accordance with the rules and policies of the exchange and applicable Canadian securities laws.

About Cytophage Technologies Ltd.

Cytophage Technologies is a pioneering biotechnology company dedicated to bacteriophage research, product development and commercialization.

Bacteriophages are viruses that only infect and kill bacteria. These natural killers of bacteria can overcome cellular-level or organism-level defences. They are nature's version of antibiotics.

Cytophage is improving bacteria's natural predators with environmental as well as genetic modifications to bring safe and toxin-free killer solutions to large addressable markets with an initial focus on animal health, which offers a fast track to near-term revenue. As a leading bacteriophage manufacturer in Canada and powered by a large library of strains, Cytophage is committed to addressing the global challenge of antibiotic resistance (AMR). The WHO (World Health Organization) predicts that AMR will be the leading cause of human mortality by 2050. Many countries have already banned or limited preventative antibiotic use in animal production, including 27 European Union countries, the United States, Canada, Brazil, Bangladesh, India and Mexico. In addition to that, consumers all over the world are demanding organic and antibiotic-free products.

Cytophage is using a derisked and patented technology to advance innovative and cost-competitive products that harness the power of bacteriophages to combat bacterial infections affecting human health, animal health and food security.

We seek Safe Harbor.