An anonymous director reports

PERIMETER MEDICAL IMAGING AI ANNOUNCES ISSUANCE AND AMENDMENT OF OPTIONS

On Sept. 13, 2023, Perimeter Medical Imaging AI Inc. granted 3,523,408 stock options to certain directors, officers, consultants and employees of the company. Each stock option entitles the holder to acquire one common share of the company at an exercise price of $1.53 per common share and expires 10 years from the date of grant. Of the 3,523,408 stock options issued, 3,195,908 stock options were issued to certain members of the executive team and directors. As of the date of this news release, the company has a total of 9,721,136 stock options outstanding, and the company may issue further equity compensation securities exercisable for up to 2,750,407 common shares under the company's omnibus equity incentive plan.

The company also announced that its board of directors has approved certain amendments to the vesting schedules of the company options issued to certain employees of the company in March, 2023. As previously announced, on March 23, 2023, the company granted 1.51 million stock options to certain directors, officers, consultants and employees of the company. The board of directors has approved a minor amendment to the vesting schedules of 1,145,000 such options issued to employees of the company to better reflect the company's intended vesting schedule and to encourage employee retention. Subject to customary regulatory approvals, 25 per cent of the amended options will vest on the one-year anniversary of grant, and the remaining amended options will vest monthly in one-48th increments over the following three years. The exercise prices and expiry dates of the amended options will not change.

About Perimeter Medical Imaging AI Inc.

Based in Toronto, Canada, and Dallas, Tex., Perimeter (TSX Venture Exchange: PINK) (OTC: PYNKF) (Frankfurt Stock Exchange: 4PC) 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, its 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 its next-generation artificial intelligence technology that 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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