An anonymous director reports

NAVCO PHARMACEUTICALS INC. COMPLETES ACQUISITION OF SL IMMUNO PHARMA CORP.

Further to Navco Pharmaceuticals Inc.'s news release dated Dec. 11, 2023, it has completed the acquisition of all the issued and outstanding shares of SL Immuno Pharma Corp. pursuant to the terms of a share exchange agreement dated Dec. 11, 2023, between the company, Navco and the shareholders of SL Immuno.

SL Immuno is a pharmaceutical company that is looking to improve drug delivery and natural clean lifestyle options for everyday people. SL Immuno has formulated sublingual strips (the MunoStrips) infused with some of the most powerful immune-boosting compounds known to science to help maintain immune function and help support the body's metabolism. MunoStrips offer a precise, rapid, discreet and healthier option to help support immune function. The MunoStrips product line has been scientifically developed to integrate easily into everyday life and most daily activities. Navco will look to get this acquisition, along with its line of Health Canada-registered NAVCO BioActive topical antibacterial skin cleanser and treatment products and NAVCO BioGuard antiviral oral products, onto pharmaceutical shelves across the country. BioActive and BioGuard are revolutionary non-toxic, alcohol- and chemical-free, and non-flammable nanoproducts that protect against germs and microorganisms.

In connection with the acquisition, the company issued an aggregate of 16,719,100 common shares in the capital of the company pro rata to the SL Immuno shareholders at a deemed price of five cents per payment share. For additional details regarding the acquisition and SL Immuno's business and operations, please refer to the company's news release dated Dec. 11, 2023, available under the company's SEDAR+ profile.

In conjunction with and upon closing of the acquisition, two members of the company's board of directors, Dr. Akbar Khan and Peter Espig, resigned from the board of directors, and SL Immuno nominees, Jatinder "Jay" Dhaliwal and Judy Su, were appointed as directors of the company to fill the vacancies created by those resignations.

The company would also like to take this opportunity to thank Dr. Khan and Mr. Espig for all of their contributions as directors of the company, and to welcome Mr. Dhaliwal and Ms. Su to its board.

About Navco Pharmaceuticals Inc.

Navco Pharmaceuticals is a Burlington, Ontario-based, company that is building a leading market position in the use of nanotechnology to develop and commercialize novel products to protect against viruses, bacteria and infectious diseases. Navco has a portfolio of patent pending and Health Canada-approved science confirming proof of concept of its nanotechnology. The company's pipeline of applications are tailored to uniquely defend against pathogens utilizing new methods-of-action to capitalize on unmet product needs using natural and known compounds, nanoparticles, and no chemicals with a high degree of efficacy. Target markets include human health and personal skin care, household and institutional products, and veterinary health.

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