Mr. J. Roderick Matheson reports

MARVEL BIOSCIENCES ANNOUNCES CLOSING OF CONVERTIBLE DEBENTURE OFFERING

Marvel Biosciences Corp. has completed the closing of the previously announced non-brokered private placement of unsecured convertible debentures for gross proceeds of $500,000, subject to final approval of the TSX Venture Exchange.

The debentures bear interest at the rate of 12 per cent per annum, payable annually and mature on Dec. 31, 2027. Interest may be repaid in cash or common shares of the corporation, at the option of the corporation, based on the 20-day volume weighted average trading price of the common shares on the TSX Venture Exchange, calculated three days prior to the payment date, subject to the minimum price permitted by the TSX Venture Exchange (and subject to approval of the TSX Venture Exchange). The debentures are convertible at the holder's option into common shares at a conversion price of 17 cents per common share. The corporation can force conversion of the debentures into common shares if the volume weighted average trading price of the common shares on the TSX Venture Exchange is at least 60 cents per common share for a minimum of 10 consecutive trading days (whether or not trading occurs on such days).

All securities issued in connection with the offering are subject to a hold period that expires on Aug. 17, 2026. The net proceeds from the offering will be used for drug formulation, for toxicology studies and for general working capital purposes.

About Marvel Biosciences Corp.

Marvel Biosciences, and its wholly owned subsidiary, Marvel Biotechnology Inc., is a Calgary-based preclinical stage pharmaceutical development biotechnology company. The company is developing MB 204, a novel fluorinated derivative of the approved anti-Parkinson's drug, Istradefylline, the only clinically approved adenosine A2a antagonist. A significant and growing body of scientific evidence suggests drugs that block the adenosine A2a receptor, such as MB-204, could be useful in treating other neurological diseases such as autism, depression and Alzheimer's disease. The company is actively investigating its potential in addressing other neurodevelopmental disorders, such as Rett syndrome and Fragile X syndrome, to expand its therapeutic reach.

We seek Safe Harbor.