Mr. Christopher Moreau reports

GREY MATTERS CLOSES FIRST TRANCHE OF $500,000 OF ITS PRIVATE PLACEMENT FINANCING

Grey Matters Health Inc. has closed the first tranche of its non-brokered private placement, previously announced on April 22, 2026, and updated on May 25, 2026. Gross proceeds from the first tranche totalled $500,000 from the sale of 1.25 million units at an issue price of 40 cents per unit.

Certain insiders of the company participated in the first tranche of the offering in the amount of $184,000. The participation by insiders in the first tranche of the offering constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the units purchased by insiders, nor the consideration for the units paid by such insiders, exceeded 25 per cent of the company's market capitalization. The company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the first tranche of the offering, which the company deems reasonable in the circumstances as the details of the participation by insiders of the company were not settled until shortly prior to closing the first tranche of the offering and the company wished to complete the first tranche of the offering in an expeditious manner.

The company paid cash finder's fees of $8,000 and issued 20,000 finder's warrants pertaining to the first tranche of the offering.

The company will use the proceeds of the offering to advance its Alzheimer's disease program toward the opening of its first U.S. brain-specific neuroimaging clinic, general and administrative expenses, and for working capital purposes.

The offering will remain open and the company expects to close additional tranches on or before June 30, 2026.

The securities issued and issuable, described in this and the previous news releases from April 22, 2026, and May 25, 2026, will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable Canadian securities legislation.

About Grey Matters Health Inc.

Grey Matters is a Canadian health-care company focused on the provision of brain-specific PET scanning services through a planned network of new neuroimaging clinics in the United States for the early-stage detection of Alzheimer's disease, and other forms of dementia, as well as epilepsy, neuro-oncology, and movement disorders including Parkinson's disease.

We seek Safe Harbor.