Mr. Na Kyoungwon reports

SPACKMAN EQUITIES ISSUES CORRECTIVE DISCLOSURE AND ANNOUNCES TERMINATION OF ADVISORY AGREEMENT WITH CANARIABIO INC.

Spackman Equities Group Inc. is issuing this news release as corrective disclosure in connection with a continuous disclosure review conducted by staff of the Ontario Securities Commission. The company has included corrective disclosure in its audited annual financial statements and related management's discussion and analysis for the fiscal year ended Dec. 31, 2025.

As part of the OSC review, staff identified that the company's interim financial statements and related management's discussion and analysis for the first three quarters of fiscal 2025 did not include certain information related to the company's business, operations, risk factors and corporate governance, as described below. In particular, the fiscal 2025 interim filings did not disclose:

• Expanded disclosure regarding the company's business activities, organizational structure and operations, including SEGI Investment Ltd., foreign operations, and advisory services;
• Enhanced discussion of the company's use of proceeds, related-party transactions, forward-looking information and issuer-specific risk factors;
• Additional disclosure regarding the company's governance, oversight of its foreign subsidiaries, internal controls and corporate governance policies;
• Clarification and expansion of disclosure relating to the CanariaBio Inc. advisory agreement, the proposed reverse takeover transaction and other matters identified during the OSC's continuous disclosure review.

The company has provided corrective disclosure in the annual filings to address the matters described above.

In addition, in connection with the company's reverse takeover transaction with Crystal Planet Ltd., the company was to file financial statements for the fiscal year ended Dec. 31, 2023, and interim financial statements for the period ended Sept. 30, 2024, for CPL. Through inadvertence, the CPL financial statements had not been filed within the required time period as set out in National Instrument 51-102 (Continuous Disclosure Obligations). The company confirms that the CPL financial statements have since being filed on SEDAR+ and can be found on the company's SEDAR+ profile.

The company is also enhancing its disclosure controls and procedures, including its processes for preparing and reviewing interim financial reporting and related management's discussion and analysis, with a view to improving the completeness and timeliness of its continuous disclosure.

In addition, on May 22, 2026, the advisory agreement between the company and CanariaBio dated March 3, 2025, was terminated. Based on the effective date of the termination, the interim financial statements for the period ended March 31, 2026, and the related MD&A should have included it as a subsequent event.

As a result of having to provide such corrective disclosures, the company will be placed on the public list of refiling and errors in accordance with OSC staff notice 51-711 (Revised) (Refilings and Corrections of Errors) and will remain on the list for a period of three years from the date of refiling the corrective disclosure.

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 Equities Group 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 Equities Group trade on the TSX Venture Exchange under the symbol SQG.

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