Mr. Adrian Mendes reports

PERIMETER MEDICAL IMAGING AI ANNOUNCES PARTICIPATION AT THE UPCOMING ANNUAL MEETING OF THE AMERICAN SOCIETY OF BREAST SURGEONS (ASBRS) AND PROVIDES CORPORATE UPDATES

Perimeter Medical Imaging AI Inc. will participate in the upcoming American Society of Breast Surgeons (ASBrS), featuring interactive demos of the S-Series OCT device at the company's booth. The company also announced the grant of certain stock options and the engagement of Velocity Trade Capital Ltd. for market liquidity services.

Conference details

• #ASBRS24 -- The American Society of Breast Surgeons 25th Annual Meeting;
• April 10 to April 14, 2024;
• Orlando World Center Marriott; Orlando, Fla.;
• Booth No. 229 -- Perimeter Medical Imaging AI.

Adrian Mendes, Perimeter's chief executive officer, stated: "We are excited to have a presence at ASBrS this year alongside top companies in the breast oncology space, providing us with an opportunity to network with 1,700 medical professionals from the U.S. and 27 countries. We believe combining a surgeon's clinical expertise with OCT technology can provide margin insights real time during surgeries, which gives them clarity to act in the moment and close with confidence."

Issuance of stock options

On April 3, 2024, the company approved the grant of 470,000 stock options to certain directors and company officers, and 863,177 options to employees as a key retention incentive tool. Each stock option entitles the holder to acquire one common share of the company at an exercise price of 85 cents per common share and expires 10 years from the date of grant. As of the date of this news release, the company has a total of 8,660,798 stock options outstanding, and the company may issue further equity compensation securities exercisable for up to 3,433,661 common shares under the company's omnibus equity incentive plan.

Market stabilization and liquidity services

The company also disclosed that, subject to stock exchange approval, Perimeter has engaged Velocity Trade, beginning April 4, 2024, to provide liquidity services to the company in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. Velocity Trade is a private and independent investment dealer headquartered in Toronto, Ont., and is registered for trading in the provinces of Ontario, British Columbia, Alberta and Manitoba. Velocity Trade is a member of the TMX, and of the Canadian Investment Regulatory Organization (CIRO). Velocity Trade will manage trading of Perimeter's shares from time to time on the TSX-V for the purposes of maintaining an orderly market, with a view to reducing trading volatility and improving the liquidity of Perimeter's shares. The funding and securities required for these services undertaken will be provided by Velocity Trade. Under the agreement, the company will pay a monthly fee of $5,000, and after a period of 60 days, either party may terminate the contract by providing the other with 30 days of prior written notice of termination. There are no performance factors contained in the agreement between Velocity Trade and the company and Velocity Trade will not receive any shares or options from the company as compensation for services it will render. The company and Velocity Trade have an arm's-length relationship, and Velocity Trade does not have any interest, directly or indirectly, in the company or its securities, or any right or intent to acquire such an interest. Velocity Trade and Perimeter are not related parties and have no other agreements other than the market liquidity agreement which is the subject of this news release.

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 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 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 (CPRIT). The company's ticker symbol PINK is a reference to the pink ribbons used during Breast Cancer Awareness Month.

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