Mr. Timothy Ko reports

ENTHEON BIOMEDICAL ANNOUNCES CLOSING OF PRIVATE PLACEMENT FINANCING

Entheon Biomedical Corp., further to its news release dated May 11, 2024, has closed a non-brokered private placement for total gross proceeds of $147,500.

The company has allotted and issued 2.95 million units at a price of five cents per unit. Each unit consists of one common share of the company and one transferable share purchase warrant, each warrant entitling the holder to acquire one additional common share at an exercise price of 10 cents for a period of 60 months from the closing date.

The company will use the proceeds from the placement toward general working capital. All securities issued under the placement are subject to a hold period of four months and one day expiring on Aug. 19, 2024.

About Entheon Biomedical Corp.

Entheon is a biotechnology research and development company interested in treating addiction and substance use disorders.