Mr. Eric Boehnke reports

TRENCHANT ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Trenchant Capital Corp. intends to undertake a non-brokered private placement financing of up to $500,000, consisting of the issuance of convertible debenture units at a price of $1,000 per debenture unit. Each debenture unit comprises: (i) $1,000 principal amount unsecured convertible debenture; and (ii) 1,000 common share purchase warrants. Each warrant will entitle the holder thereof to acquire one common share in the capital of the company at a price of 26 cents per warrant share for a period of two years following closing. The principal amount of the debenture will have a maturity date one year following the issuance of the debentures and will accrue interest at a rate of 10 per cent per annum.

At the sole option of the subscriber, the principal amount and accrued interest thereon may be converted into common shares of the company at a conversion price determined by the closing market price of the shares on the Canadian Securities Exchange on the trading day prior to the date the company receives a notice of conversion from the subscriber, provided that the conversion price will not be less than 26 cents per share, and subject to the policies of the CSE. On the maturity date, at the sole option of the company, the principal amount and any accrued interest thereon may be converted into shares at the conversion price, subject to the policies of the CSE. Proceeds of the offering will be used for the company's initial investment in GNQ Insilico Inc., as described in the company's press release of Dec. 1, 2023, Jan. 4, 2024, March 6, 2024, and March 22, 2024, as well as for general working capital purposes.

All securities issued in connection with the offering will be subject to a statutory hold period expiring four months and one day after closing of the offering. Any participation by insiders in the offering will constitute a related party transaction under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

In addition, the company has completed the first tranche of its non-brokered private placement, pursuant to which it has issued an aggregate of 150,000 units at a price of 25 cents per unit for gross proceeds of $37,500. Each unit consists of one share and one warrant. Each warrant is exercisable into one additional share at a price of 50 cents per share for a period of two years from the closing date. Proceeds of the unit offering will also be used for the company's initial investment in GNQ Insilico Inc.

The securities issued in connection with the unit offering and the shares that may be issuable on exercise of the warrants are subject to a statutory hold period expiring four months and one day after closing of the unit offering.

We seek Safe Harbor.