Mr. Christopher Moreau reports

GREY MATTERS ANNOUNCES INCREASE TO PRIVATE PLACEMENT FINANCING TO $1.25 MILLION AND CLOSING OF OFFERING

Grey Matters Health Inc. has increased its non-brokered private placement, previously announced on April 22, 2026, and updated on May 25, 2026, and June 5, 2026, to $1.25-million and closed the second and final tranche. Gross proceeds from the second tranche totalled $750,000 from the sale of 1,875,000 units at an issue price of 40 cents per unit. The closing of the second tranche brings the financing to a total of $1.25-million from the sale of 3,125,000 units, including the closing of the first tranche on June 5, 2026. The offering is now closed.

Certain insiders of the company participated in the second tranche of the offering in the amount of $449,000. The participation by insiders in the second 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 second 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 second tranche of the offering and the company wished to complete the second tranche of the offering in an expeditious manner.

The company paid cash finders' fees of $28,000 and issued 70,000 finder warrants pertaining to the second 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, for general and administrative expenses, and for working capital purposes.

The securities issued and issuable, described in this news release and the previous news releases from April 22, 2026, May 25, 2026, and June 5, 2026, will be subject to a statutory hold period of four months plus one 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 (positron emission tomography) scanning services through a planned network of new neuroimaging clinics in the United States for the early-stage detection of Alzheimer's disease, other forms of dementia, as well as epilepsy, neuro-oncology and movement disorders, including Parkinson's disease.

We seek Safe Harbor.