Mr. Craig Milne reports

INNOVOTECH REPORTS RESULTS FOR ITS THIRD QUARTER ENDED 30 SEPTEMBER 2023

Innovotech Inc. had a third quarter loss of $117,546 on revenue of $174,811. Contract research revenues were $121,091, a decline from $293,508 in Q3 2022. Product sales remained relatively stable for the current quarter at $53,720.

General and administrative expenses rose by 7.7 per cent over second quarter to $250,629 driven substantially by the hiring of Dr. Craig Milne as chief executive officer during the quarter. Research and development expenditures of $33,239 were incurred to complete the previously agreed program in advance of acquiring NouLife Sciences Inc. on Aug. 18, 2023. The company also attended the Surfaces in BioMaterials conference, increasing the sales and marketing efforts to further expand key contacts and exposure among leading medical device companies, as well as new industry entrants.

The company has previously stated renewed commitments to R&D efforts in its proprietary Innovosil-1 anti-microbial silver, Nou Life anti-oxidant linker chemistry and expansion of contract research services. These investments, along with the addition of Dr. Milne, are made with the view to improve the company's longer-term value.

About Innovotech Inc.

Innovotech is a Canadian biotechnology company owning proprietary intellectual property, conducting contract research, and owning and providing proprietary devices for testing in multiple applications in microbiology.

We seek Safe Harbor.