Mr. Na Kyoungwon reports

SPACKMAN EQUITIES GROUP INC. ENGAGED TO ADVISE CANARIABIO INC. ON TSX VENTURE EXCHANGE

Spackman Equities Group Inc. has entered into an advisory agreement with CanariaBio Inc., which is seeking to list or list its assets on the TSX Venture Exchange by entering into a reverse takeover transaction with a shell company or a capital pool company currently listed on the TSX-V (the Listco) in accordance with Policy 5.2 of the TSX-V on March 3, 2025.

CanariaBio is a Korean clinical-stage biopharmaceutical company focused on the development and commercialization of immunotherapies for cancer. CanarioBio's technology platform includes a portfolio of tumour antigen-specific monoclonal immunoglobulins targeting CA125, MUC1, PSA and Her2/neu.

Along with the RTO, CanariaBio intends to undertake a concurrent financing by way of private placements of its securities, securities of an entity representing its assets or securities of the Listco, or any combination thereof.

Spackman shall advise CanariaBio to comprehensively plan, manage, administer and supervise the overall process of the RTO and the concurrent financing.

According to the agreement, Spackman will be entitled to receive a certain percentage of the transaction value, in the form of newly issued shares of the Listco, issued in addition to and concurrently with, and at the same deemed price per Listco share as, the shares of the Listco that CanariaBio (or its shareholders) shall receive at the closing of the transaction.

In connection with the raising of capital for the concurrent financing, Spackman shall be entitled to receive a certain percentage of the gross proceeds of the funds introduced and arranged by Spackman.

Kay Na, director of Spackman, stated: "From our long experience with the TSX Venture Exchange, we believe that the TSX-V has evolved into one of the most attractive listing venues for small/medium-sized growth businesses in recent years, especially in terms of the efficient and transparent regulatory framework and its understanding of the needs of development-stage businesses. As one of SEGI's primary business growth engines going forward, we plan to lead the charge in becoming a conduit, as an investor or adviser or both, for a pipeline of small/medium-sized businesses from Korea to list on the TSX-V, opening an alternative capital pathway for promising Korean growth companies. In addition, through such listings, we seek to become a catalyst in bringing new market participation to the TSX-V from Korean retail and institutional investors, who are now able to invest into and trade Canadian stocks directly from Korea. We are convinced that the TSX-V will become a listing destination of choice for growth-stage businesses from various parts of the world in the coming years."

The company will update as and when there is any material change on the agreement or impact from the RTO or concurrent financing in accordance with the agreement, as and when appropriate and necessary.

About Spackman Equities Group Inc.

Spackman is an international investment firm that selectively invests into growth companies that possess proprietary know-how or technologies. Its objective is to originate opportunities to invest into businesses at attractive valuations, build a compelling portfolio of holdings, and deliver the collective value of its investments to its shareholders. Spackman invests into public equities, as well as privately held companies.

Spackman also advises its portfolio companies on merger and acquisition strategies, capital structuring, and strategic alternatives.

The common shares of Spackman trade on the TSX Venture Exchange under the symbol SQG.

We seek Safe Harbor.