Mr. Alejandro Antalich reports

EVOKAI CREATIVE LABS ACQUIRES FINNISH MEDTECH COMPANY HEAD INSTRUMENTS OY

EvokAI Creative Labs Inc. has completed the acquisition of Head Instruments Oy, a Finnish medtech (medical technology) company creating smart medical devices and solutions to improve patients' quality of life and support medical professionals in their work. The acquisition was previously announced on April 24, 2023.

"With the acquisition of Head, EvokAI gains access to its cutting-edge technologies, including advanced neural interfaces, data-driven disease modeling and personalized treatment solutions. These innovations have the potential to significantly transform the diagnosis, monitoring and therapeutic interventions for Parkinson's disease patients, addressing critical unmet needs in the field," stated Alejandro Antalich, chief executive officer and director of EvokAI Creative Labs.

"This strategic move reinforces our commitment to revolutionize health care and underscores our belief in the transformative power of artificial intelligence in improving patient care. Parkinson's disease affects millions of people worldwide, causing a range of motor and non-motor symptoms that significantly impact quality of life. Only in the United States the expenses to public health systems reaches $25-billion every year. With patents already granted in the United States and United Kingdom and actively used in clinics in Austria, Finland and Germany, we are now ready to land in North America to reduce the tremendous burden that movement disorders generate to the American society," added Mr. Antalich.

"Head has gained widespread recognition for its groundbreaking innovations in the field of Parkinson's disease. Head's exceptional team of researchers, engineers and medical professionals has developed a revolutionary technology aimed at improving the lives of patients affected by this debilitating neurological disorder. We are delighted to welcome Head to our family to amplify the impact of our technologies, ultimately benefiting individuals living with Parkinson's disease and their families," concluded Mr. Antalich.

With offices in Oulu, Finland, Head's advanced technologies and solutions provide means for accurate analysis of the magnitude of movement disorders and their response to medication. Other causes of movement disorders include dystonia, various diseases causing tremors, Tourette's syndrome, congenital CP (cerebral palsy) or MS (multiple sclerosis). Already used in university hospitals and by renowned neurosurgeons across Europe, the novel device and artificial-intelligence-based solution is also meant to be wirelessly connected to deep brain stimulation equipment, so that the monitor can automatically control brain synchronization based on observed symptoms. Involuntary movement of a body region, which may be oscillatory and can often be considered tremor, is a common and frustrating disorder. Visual observation by a neurologist dominates an assessment of the movement of a body region in clinical practice. All people, healthy or disordered, have tremor at some extent and determination of its development over time or under treatment is not possible, because a movement of a body region of a person at one moment cannot reliably be compared with that of another moment. Although technical measurements of the movement of a body region have been attempted, they are complicated, inefficient and insufficient.

Pursuant to the terms of the acquisition, the company acquired 100 per cent of the issued and outstanding securities of Head in consideration of the issuance of an aggregate of 3,724,674 common shares of the company to former securityholders of Head. The EvokAI shares issued in connection with the acquisition are subject to a contractual hold period expiring May 31, 2024. Up to an additional 1,769,406 EvokAI shares may be issuable to the former securityholders of Head upon Head achieving certain milestones on or before March 30, 2025.

About EvokAI Creative Labs Inc.

EvokAI is a medtech AI-powered company dedicated to the development of transformational and innovative technologies for the modern health care sector. The company deploys machine learning models to search medical data and uncover insights to help improve health outcomes, patient experiences, drug development, and preclinical and clinical decisions and to provide more accurate diagnoses. EvokAI tailors its AI algorithms across the whole health care system, from hospitals, private clinics, research institutions, pharmaceutical companies and contract research organizations to medical professionals, patients, healthy individuals aiming at preventing any kind of disease and beyond, protecting the aging genome.

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