Dr. Essam Hamza reports

TREATMENT.COM AI INC. CLOSES OVER-SUBSCRIBED NON-BROKERED PRIVATE PLACEMENT OF $2,908,200

Further to its news release dated Feb. 16, 2024, Treatment.com AI Inc. has closed a non-brokered private placement of 6,295,500 special warrants of the company at a price of 40 cents per special warrant, for aggregate gross proceeds of $2,518,200 and 975,000 units of the company at a price of 40 cents per unit, for aggregate gross proceeds of $390,000.

Each special warrant will automatically convert without payment of any additional consideration into one unit on the date that is the earlier of (i) the third business day after a) a receipt from the applicable securities regulatory authorities for a (final) short-form prospectus or b) the date of filing a prospectus supplement to a short-form base shelf prospectus qualifying the distribution of the units issuable upon the conversion of the special warrants, and (ii) four months and one day after the issue date of the special warrants.

Each unit comprises one common share of the company and one-half of one share purchase warrant of the company, with each warrant exercisable into one additional share at an exercise price of 60 cents for two years from the date of closing.

Dr. Essam Hamza, chief executive officer of the company, stated: "We are very encouraged with the overwhelming response to the financing and the subsequent oversubscription. This money will help our aggressive growth plans over the next year."

In connection with the offering, the company has paid finder's fees totalling $220,816 and issued an aggregate 552,040 non-transferable broker warrants to arm's-length parties. Each broker warrant entitles the holder to purchase one common share at an exercise price of 60 cents per broker share for a period of two years from the date of closing.

The company intends to use the proceeds raised from the offering for working capital purposes. Prior to the filing of a qualifying prospectus or a prospectus supplement, the special warrants and the securities issuable upon conversion of the special warrants are subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation. The units and broker warrants are subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation. The special warrants and warrants will not be listed on any stock exchange or over-the-counter market.

We seek Safe Harbor.