Mr. Peter Chen reports

INCEPTUS CAPITAL ANNOUNCES CHANGE IN FINANCING STRUCTURE FOR PROPOSED QUALIFYING TRANSACTION WITH SMARTWELL TECHNOLOGIES VANCOUVER, BRITISH COLUMBIA JUNE 4, 2026 INCEPTUS CAPITAL LTD.

Following Inceptus Capital Ltd.'s announcement with respect to a qualifying transaction involving the acquisition of Smartwell Technology Inc. on June 9, 2022, and its subsequent announcement on March 24, 2026, that the British Columbia Securities Commission issued a receipt dated March 2, 2026, for the final prospectus of the company, Inceptus Capital will be restructuring the terms of the acquisition, specifically the terms of the financing in connection with the acquisition. The 90-day distribution period under the prospectus has lapsed effective June 2, 2026. Under the revised financing structure, Smartwell has completed a concurrent financing on a non-brokered basis for gross proceeds of $3-million, as opposed to $2.5-million as disclosed in the prospectus.

Completion of the acquisition is subject to the satisfaction of the conditions set out in the conditional acceptance issued by the TSX Venture Exchange, which has been extended until Sept. 2, 2026.

About Smartwell Technology Inc.

Smartwell is a British Columbia-registered AI-powered (artificial intelligence) agricultural technology company with operations across China and North America, the world's two largest agricultural markets. Smartwell is built on a single-core AI algorithmic engine, which is deployed across two application-specific platforms: the controlled environment agriculture (CEA) system and the Yuntong system.

The CEA system provides solutions based on AI crop growth models for high-value-added agriculture with an aim to provide intelligent, efficient and environmentally friendly results for its clients, which are growers, insurance corporations, financial institutions and other agricultural enterprises, both private and government owned.

The Yuntong system employs satellite remote sensors, unmanned aerial vehicles and agriculture IoT (Internet of Things) to analyze data employing proprietary artificial intelligence algorithms to provide relevant information affecting all relevant crop dynamics, including crop identification, crop area, crop growth, yield estimates, pest control, soil dynamics, meteorological variables and predictive forecasting.

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