An anonymous director reports

NAVCO TO AMEND SHARE PURCHASE WARRANT PRICE

Navco Pharmaceuticals Inc. intends to amend the exercise price of certain common share purchase warrants originally issued on April 13, 2023.

An aggregate of 14,070,441 warrants were initially issued with an exercise price of 25 cents per common share of the company in connection with a public offering of 14,070,441 units at a price of 15 cents per unit. The company intends to amend the exercise price of the unexercised warrants to 10 cents per common share.

The warrants, as amended, will be subject to an accelerated expiry provision such that, if for any 10 consecutive trading days during the unexpired term of the warrants, the closing price of the company's common shares on the TSX Venture Exchange exceeds 12.5 cents (representing the amended warrant exercise price of 10 cents plus 25 per cent), the exercise period of the warrants will be reduced to 30 days, starting seven days after the last premium trading day. The company will announce any such accelerated expiry date by press release. All other terms of the warrants remain unchanged.

Amendment of the warrants is subject to the approval of the TSX Venture Exchange. It is expected that no action will be required on the part of the holders of the warrants to give effect to the amendments.

About Navco Pharmaceuticals Inc.

Navco, based in Burlington, Ont., is a company that is building a leading market position in the use of nanotechnology to develop and commercialize novel products against bacteria, viruses, fungi and infectious diseases. Navco has a portfolio of patent-pending and Health Canada-approved products. The company's pipeline of applications is tailored to uniquely defend against pathogens utilizing new methods of action to capitalize on unmet health and product needs using natural and known compounds and nanoparticles with a high degree of efficacy. Target markets include human health and personal skin care, household and institutional products, and veterinary health.

We seek Safe Harbor.