Mr. Trevor Vieweg reports

MEDBRIGHT AI ANNOUNCES CLOSING OF LIFE OFFERING FOR GROSS PROCEEDS OF APPROXIMATELY $1.4 MILLION

Medbright AI Investments Inc. has closed the previously announced commercially reasonable efforts agency basis private placement offering of units of the company, for gross proceeds of $1,398,977.40. The offering was conducted pursuant to an agency agreement dated as of Feb. 9, 2024, among the company, Canaccord Genuity Corp., as lead agent and sole book runner, and a syndicate consisting of Beacon Securities Ltd. and PI Financial Corp.

Pursuant to the offering, a total of 6,994,887 units were sold at a price per unit of 20 cents. Each unit consists of one common share of the company and one-half of one share purchase warrant. Each whole warrant will entitle the holder thereof to acquire one share at an exercise price of 30 cents, subject to adjustment in certain circumstances, for a period of 24 months from the closing date and will be governed by the terms of a warrant indenture, dated as of the closing date, between the company and Endeavor Trust Corp., as warrant agent.

The offering has been conducted pursuant to the listed issuer financing exemption from prospectus requirements in Part 5A of National Instrument 45-106 -- Prospectus Exemptions. The offering has also been conducted in those other jurisdictions outside of Canada on a private placement basis in compliance with all applicable securities laws of such other jurisdictions, such that no prospectus, registration statement or similar document is required to be filed in such jurisdictions, no registration or similar requirement applies with respect to the company in such other jurisdictions, and the company has not become subject to continuing continuous disclosure obligations in such other jurisdictions. The units, the warrants and the warrant shares are not subject to resale restrictions pursuant to applicable Canadian securities laws.

In connection with the offering, the company: (i) paid to the agents a cash commission equal to 8 per cent of the aggregate gross proceeds raised from the offering; (ii) issued to the agents such number of compensation warrants as is equal to 8 per cent of the aggregate number of units sold in the offering, each agents' warrant being exercisable into one share at the offering price for a period of 24 months from the closing date; and (iii) paid to the lead agent a corporate finance fee, payable in equal proportions in cash and through the issuance of units of the company at the offering price (the CF fee units), each CF fee unit consisting of one share and one share purchase warrant governed by the terms of the warrant indenture, each exercisable into one share at a price of 30 cents for a period of 24 months from the closing date.

The agents' warrants, the agents' warrant shares, the CF fee units, the CF fee unit shares, the CF fee unit warrants and the CF fee unit warrant shares are subject to a statutory hold period of four months and one day, pursuant to applicable accredited investor exemptions under National Instrument 45-106.

The net proceeds of the offering will be used for business development, general working capital, other general corporate purposes, and sales and marketing activities as described in the offering document relating to the offering that can be accessed under the company's profile at SEDAR+ and on the company's website.

About Medbright AI Investments Inc.

Medbright AI is a capital allocator focused on investing in health care technology companies. Investments may include equity, debt or other securities of both public and private companies and control stake acquisitions. Medbright has a focus on significant near-term and midterm high-quality opportunities with strong return potentials while maintaining commitment to governance.

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