Mr. Jeremy Sobotta reports

PERIMETER MEDICAL IMAGING AI GRADUATES TO TIER 1 OF THE TSX-V

The TSX Venture Exchange has approved Perimeter Medical Imaging AI Inc.'s application to graduate from a Tier 2 issuer to a Tier 1 issuer. Tier 1 is reserved for senior TSX-V companies with the most significant financial resources and those that have demonstrated a sustainable business model and operational record.

Jeremy Sobotta, Perimeter's chief executive officer, stated: "We are very pleased that the TSX-V has recognized Perimeter's growth since it became public in 2020. We were already recognized as part of the 2022 TSX Venture 50, and, to us, this graduation is the natural next step. We look forward to continuing to grow our business and providing value to our shareholders as a Tier 1 company."

Important factors included in Perimeter's successful tier graduation application include the company's well-capitalized position with cash and cash equivalents of $44,966,273 as of June 30, 2022; Perimeter's significant intellectual property in its optical tissue imaging system, including five issued patents in the United States and internationally; and the broadening public distribution of Perimeter's common shares traded on the TSX-V, the over-the-counter market and the Frankfurt Stock Exchange.

Perimeter's common shares will begin trading on Tier 1 at the open of trading on Oct. 5, 2022.

With the graduation to Tier 1 listing, Perimeter's common shares previously deposited into escrow pursuant to TSX-V rules will now be governed by the applicable Tier 1 release provisions. As such, 5,080,959 common shares of Perimeter as well as approximately 687,105 warrants, options or underlying common shares of Perimeter will be eligible for release from escrow immediately, including 5,008,057 common shares held by Perimeter's largest shareholder, Roadmap Capital.

About Perimeter Medical Imaging AI Inc.

Based in Toronto, Canada, and Dallas, Tex., Perimeter Medical Imaging AI is a medical technology company driven to transform cancer surgery with ultrahigh-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the United States, the company's U.S. Food and Drug Administration cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents the company's next-generation artificial intelligence technology, which is currently being evaluated in a pivotal clinical trial, with support from a grant of up to $7.4-million (U.S.) awarded by the Cancer Prevention and Research Institute of Texas. The company's ticker symbol, PINK, is a reference to the pink ribbons used during Breast Cancer Awareness Month.

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