Mr. John Welborn reports

HLS THERAPEUTICS ANNOUNCES UPDATES TO ITS BOARD OF DIRECTORS

John Hanna has been appointed to HLS Therapeutics Inc.'s board of directors, while Greg Gubitz, chair of the board, is retiring from the board. John Welborn, a current board member, has been appointed chair. These changes are effective immediately.

"On behalf of the board and HLS employees, I want to thank Greg for his service and many contributions to HLS as a co-founder, former CEO and most recently as chair over the past year. Under his recent leadership as chair, the board hired a new CEO and reshaped and streamlined the board of directors, adding both more shareholder representation and industry expertise," said Mr. Welborn, chair of the board at HLS.

"We also welcome John Hanna to the board. John has significant finance, operational and governance experience in both growth-oriented and transformational environments, and we are pleased to have him join the HLS board at this important time for the company," added Mr. Welborn.

Mr. Hanna was proposed as a board candidate by Polar Asset Management Partners Inc., a shareholder of HLS, under terms of an agreement that Polar entered into with the company, which was detailed in an HLS press release dated June 8, 2023. Mr. Hanna is an accomplished leader with more than 25 years of diverse experience, including in the health care industry, as a C-level executive helping companies to drive revenue growth, scale their operations and expand operating profitability. Given this experience and background, Mr. Hanna has also been appointed as a member of the HLS audit committee.

Mr. Hanna is currently chief financial officer of Inca Networks, where he is responsible for the financial direction and strategy of the company. With more than 25 years of experience in operational and corporate finance roles, Mr. Hanna has a proven record of implementing change to generate top-line growth while controlling costs. Previously, Mr. Hanna served as chief financial officer at Vecima Networks and eBuyNow and held a variety of senior financial roles with The Westaim Corp. Mr. Hanna has also served as a board member for a number of technology companies, including Vector 12 Corp. He holds an MBA from the University of British Columbia and is a designated accountant (CPA, CGA).

"Mental health and cardiovascular disease are significant issues for many Canadians, and HLS is committed to serving our patients with life-improving and life-saving therapies. As a board, we are excited for our new CEO, Craig Millian, to optimize our product portfolio and lead HLS. The board is committed to ensuring profitable growth and improving shareholder value," said Mr. Welborn.

The HLS board now has eight members: Mr. Welborn, chair; Mr. Millian, CEO of HLS; Norma Beauchamp; Laura Brege; Kyle Dempsey; Mr. Hanna; Rodney Hill; and Christian Roy.

About HLS Therapeutics Inc.

Formed in 2015, HLS is a pharmaceutical company focused on the acquisition and commercialization of late-stage development, commercial stage promoted and established branded pharmaceutical products in the North American markets. HLS's focus is on products targeting the central nervous system and cardiovascular therapeutic areas. HLS's management team is composed of seasoned pharmaceutical executives with a strong record of success in these therapeutic areas and at managing products in each of these life cycle stages.

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