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12:31:08 EST Sun 08 Feb 2026
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Gstaad Capital Corp (2)
Symbol GTD
Shares Issued 9,408,334
Recent Sedar+ Documents

Gstaad suspends LuxHygenix qualifying transaction

2023-12-06 11:02 ET - News Release

Subject: Gstaad Capital PDF Document File: Attachment GTD NR - LuxHygenix Inc. QT update 12.6.23.pdf GSTAAD CAPITAL CORP. Suite 615 800 West Pender Street Vancouver, British Columbia, V6C 2V6 T: 604-728-4080 Gstaad Capital Provides Update on Qualifying Transaction. Vancouver, BC, December 6, 2023 Gstaad Capital Corp. (TSXV-NEX: GTD.H) ("Gstaad" or the "Company") wishes to provide an update on the Qualifying Transaction with LuxHygenix Inc. announced December 15, 2021. LuxHygenix Inc. was unable to complete the recent equity private placement and thus has had to suspend development operations at its lab in Scottsdale, Arizona due to lack of capital. LuxHygenix Inc. had a monthly burn rate of in excess of US $180,000, primarily spent on advancing the product design and prototypes but suffered significant supply chain delays in developing prototypes for delivery to its contracted partners; the Mayo Clinic, Johns Hopkins Hospital and Arizona State University. The development of a unique solid-state component prototype, which enabled operation in the Goldilocks Band at high and controlled levels was accomplished and in house testing, verified the effectiveness of the scientific advances of the team in the Lab. As part of the Qualifying Transaction process, audited financials were prepared for two years of LuxHygenix financial years ended December 31, 2021 and December 31, 2022, in compliance with regulatory requirements, and no audit issues were identified in the audit. Management of LuxHygenix Inc. is reviewing alternative sources of financing but in the interim has determined that it is prudent to suspend operations to reduce ongoing costs at the present. Gstaad management is closely following LuxHygenix Inc. and will provide an update when available. Gstaad has suspended advancing the Qualifying Transaction with LuxHygenix Inc. and will provide updates of any progress by news release. On behalf of the Board of Directors Paul Larkin, President and CEO Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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